Establishing which companies have the most affordable car insurance rates for electric cars will require more time in order to find coverage that fits your budget. Each auto insurer uses their own formula to determine rates, so we’ll take a look at the car insurance companies that tend to have lower prices in Pennsylvania.
Find the Best Cheap Insurance for EV’s
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | General Casualty | $748 |
| 2 | Travelers | $803 |
| 3 | USAA | $809 |
| 4 | Penn National | $816 |
| 5 | Erie | $816 |
| 6 | Auto-Owners | $973 |
| 7 | Amica | $1,022 |
| 8 | Atlantic States | $1,036 |
| 9 | Donegal Mutual | $1,058 |
| 10 | GEICO | $1,145 |
| 11 | State Farm | $1,162 |
| 12 | Allied | $1,190 |
| 13 | State Auto | $1,229 |
| 14 | California Casualty | $1,234 |
| 15 | Encompass | $1,398 |
| 16 | Progressive | $1,414 |
| 17 | Nationwide | $1,433 |
| 18 | Harleysville | $1,452 |
| 19 | Mutual Benefit Group | $1,454 |
| 20 | Chubb | $1,551 |
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General Casualty offers some of the cheapest car insurance rates in Philadelphia at around $748 a year. This is $909 less than the average rate paid by Pennsylvania drivers of $1,657. Travelers, USAA, Penn National, and Erie also qualify as some of the cheapest Philadelphia, PA car insurance companies.
In the above example, if you have coverage with Penn National and switched to General Casualty, you might achieve an annual savings of in the neighborhood of $68. Insureds with Erie might save as much as $68 a year, and Auto-Owners insureds might reduce prices by as much as $225 a year.
These premiums are averaged for all drivers and vehicles in Pennsylvania and and are not calculated with a specific vehicle garaging location for electric cars. So the auto insurance company that fits your situation best may not even be in the top 30 companies shown above. That affirms the importance of why you need to get car insurance quotes using your own specific driver and vehicle information.
One of the more important components that are used to help calculate the cost of insurance is where you call home. Areas with high crime rates or more dense population tend to pay more, whereas areas with less congestion can boast about having cheaper rates.
The following table rates the most expensive places in Pennsylvania for electric cars to buy an auto insurance policy in. Philadelphia ranks #1 with the annual price of $2,057 for the average policyholder, which is around $171 each month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Philadelphia | $2,057 |
| 2 | Drexel Hill | $1,549 |
| 3 | Levittown | $1,421 |
| 4 | Chester | $1,393 |
| 5 | Norristown | $1,281 |
| 6 | Allentown | $1,141 |
| 7 | Erie | $1,115 |
| 8 | Easton | $1,091 |
| 9 | Pittsburgh | $1,085 |
| 10 | Scranton | $1,081 |
| 11 | Hazleton | $1,078 |
| 12 | Reading | $1,077 |
| 13 | Bethlehem | $1,077 |
| 14 | Plum | $1,057 |
| 15 | Municipality of Monr | $1,049 |
| 16 | Wilkes-Barre | $1,047 |
| 17 | New Castle | $1,046 |
| 18 | Harrisburg | $1,025 |
| 19 | Altoona | $1,002 |
| 20 | Bethel Park | $989 |
| 21 | Williamsport | $986 |
| 22 | Lancaster | $975 |
| 23 | York | $944 |
| 24 | Lebanon | $922 |
| 25 | State College | $878 |
| Quote Best Rates Go | ||
Premium costs are approximated as the specific garaging location can influence prices considerably.
The diagram below shows how choosing a deductible can change premium costs when getting quotes for cheap insurance for electric cars. The rates are based on a single male driver, full coverage, and no discounts are taken into consideration.
In the chart above, a 50-year-old driver could reduce rates by $368 a year by increasing from a $100 deductible to a $500 deductible, or save $552 by selecting a $1,000 deductible. Younger drivers, such as the 20-year-old example, could possibly save as much as $1,222 or even more by choosing larger deductibles on their policy.
When choosing a higher deductible, it will be necessary to have spare funds to enable you to pay the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.
Best car insurance company in Philadelphia
Selecting the best auto insurance provider can be a challenge considering how many companies there are in Pennsylvania. The information shown next can help you choose which auto insurers to look at when trying to find the cheapest insurance for electric cars.
The rankings below only include companies that write coverage in many states, so smaller regional companies are not included in these rankings. If you wish to compare rates from these and other top-rated companies, simply click here.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| The General | 96 | 100 | 92 | 91% | A- | 95 |
| Titan Insurance | 87 | 96 | 94 | 93% | A+ | 92.9 |
| The Hartford | 88 | 96 | 91 | 93% | A+ | 92.6 |
| Progressive | 84 | 94 | 99 | 90% | A+ | 92.4 |
| Travelers | 84 | 93 | 100 | 87% | A++ | 92.3 |
| State Farm | 84 | 93 | 95 | 87% | A++ | 91 |
| Farmers Insurance | 87 | 92 | 90 | 85% | A | 90.6 |
| Erie Insurance | 79 | 93 | 90 | 87% | A+ | 88.6 |
| Safeco Insurance | 85 | 91 | 87 | 86% | A | 88.4 |
| USAA | 71 | 93 | 98 | 87% | A++ | 88 |
| GEICO | 73 | 93 | 95 | 85% | A++ | 87.1 |
| 21st Century | 85 | 85 | 91 | 89% | A | 86.9 |
| Liberty Mutual | 72 | 91 | 97 | 83% | A | 86.4 |
| AAA Insurance | 85 | 85 | 88 | 86% | A | 85.8 |
| Nationwide | 71 | 90 | 93 | 83% | A+ | 84.9 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Full coverage versus liability only rates
Lowering the price of car insurance is probably important to most vehicle owners, and one easy way to pay less for insurance for electric cars is to only buy liability insurance. The chart below shows the difference between insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Pennsylvania. The premium estimates are based on no violations or claims, $1,000 deductibles, single status, and no discounts are taken into consideration.
If we average the cost for ages 20 through 70, physical damage insurance costs $1,844 per year more than just insuring for liability. Many of you may wonder when is it a good idea to stop buying full coverage. There isn’t a written rule for dropping physical damage insurance, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is about 10% or more of any settlement you would receive from your insurance company, the it may be a good time to stop paying for full coverage.
For example, let’s pretend your vehicle’s replacement value is $7,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $6,000 after the policy deductible has been paid. If it’s costing in excess of $600 a year to have full coverage, then it’s probably a good time to buy liability coverage only.
There are a few situations where buying only liability insurance is not a good idea. If you have an outstanding loan on your vehicle, you are required to maintain full coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should not drop full coverage.
How to find low-cost auto insurance for electric cars
The list below details some of the better money-saving ideas that can help you get low-cost auto insurance.
- Bundle car and home insurance and save money
- Save money by insuring older vehicles for liability only
- Avoid price increases by not filing claims
- Vehicles with good safety ratings have lower liability rates
- Do not get traffic tickets
- Drive attentively and avoid accidents
- Compare rates regularly and switch companies to save money
The last idea is incredibly significant, as we noted in this write-up. Auto insurance prices in Philadelphia can be changed at any time, so drivers shouldn’t hesitate to buy from a different company if a cheaper rate is available.
Having a favorite company is fine, but it’s not a good idea if that dedication is costing a wad of cash every year. In just a few minutes you could compare rates to find cheaper car insurance for electric cars.