All Insurance Questions

[Takinamulligan]

Hello,

I'm curious about EV insurance in California, especially for leases. What are people experiencing regarding cost compared to an ICE policy? Has anyone had a claim and how did that go?

I have to carry a second ICE vehicle so I have to keep that into consideration. There doesn't seem to be much of a discount for two cars, one driver. I realize they insure for a parked vehicle and the possibility of another driver but no discount (over insuring the ICE as the primary vehicle) seems a little extreme.

Any insights on the subject are appreciated.

 

[reeler]

The insurance is based more on the cost of the vehicle. That means it can be more for the RAV4 EV because of the high MSRP. Other than that, I have found no issues getting insurance my Leaf that I had in CA.

 

[adjackson3]

I just paid my insurance bill for my 2012 RAV4 EV. I am using State Farm since they cover my Solectria Force EV and my ICE. My annual premium is $336. I'm in Berkeley.

What are other folks paying with other companies.

 

[AvLegends]

I just paid my insurance bill for my 2012 RAV4 EV. My annual premium is $336.

If you are getting full coverage on the Rav4 EV for $336/year that's a pretty good price. I have a spotless driving record and pay USAA around $680/year. Are you sure that 336 isn't for 6 months? If not I might give State Farm a call.

 

[adjackson3]

You are absolutely correct. The bill does not clearly indicate 6 months but if I count the number of months of the policy period (Sept 26-March 26) it is clearly 6 months. That is annoying. Anyway, I'm glad our rates are in the same ball park. Thanks for the response.

 

[cossie1600]

i got raped for $1380 a year

 

[miimura]

I'm paying $1,068/yr with $500 Collision Deductible and $100 Comprehensive Deductible.

 

[mhkp]

$390 for 6 months. State Farm

 

[Braxus]

Mine's $472 for 6/mo. Farmers. Guess I better look at State Farm for my next quote.

 

[Syrinx]

The cost will vary with each insurer, and also depending on your record, experience, and what coverage level and deductible you opt for. I have State Farm, and they are quoting me $461 per 6 months with the following coverage:

Bodily Injury and Property Damage 100,000/300,000/100,000
Comp and Collision, $250 deductible
Emergency Roadside
Car Rental
Uninsured Driver 50,000/100,000

 

[eplantz]

The cost will vary with each insurer, and also depending on your record, experience, and what coverage level and deductible you opt for.

And where you live. Urban and close-in suburban locations cost more.

 

[Syrinx]

The cost will vary with each insurer, and also depending on your record, experience, and what coverage level and deductible you opt for.

And where you live. Urban and close-in suburban locations cost more.

Everywhere but California, where this is not allowed by law to be a top factor in deciding price. It may affect it some still though.

 

[occ]

My record is spotless. Since I consider myself an impeccable driver (0 claims/accidents in 27 yrs of driving) I opted for the most savings (ie highest deductible, lowest coverage, no rental, etc), OC subburbs, and good driver, multiple cars, multiple policies, renewal discounts: $361/6mo. Also, the car listed is a Toyota Rav4 (does not say Rav4EV - I asked but they said it was the same). I'm insured with Travelers.

 

[miimura]

My agent requested a copy of the bill of sale, presumably to establish the purchase price. This is normally not needed for more common vehicles. I don't see how an insurer can charge the same as a gasser RAV4. The replacement cost is so much higher.

California is not a no-fault state, so you pay a separate optional premium for collision, which is used when you are at fault for the damage to your own vehicle. If I were to drop collision coverage completely, it would drop by about $500 out of $1,068/yr. My older car which is worth less than 1/10th of the RAV is only about $125/yr for collision.

 

[yblaser]

My record is spotless. Since I consider myself an impeccable driver (0 claims/accidents in 27 yrs of driving) I opted for the most savings (ie highest deductible, lowest coverage, no rental, etc), OC subburbs, and good driver, multiple cars, multiple policies, renewal discounts: $361/6mo. Also, the car listed is a Toyota Rav4 (does not say Rav4EV - I asked but they said it was the same). I'm insured with Travelers.

I have a similar record and discounts and am paying just slightly less than you through USAA for the RAV4. I agree that paying for a lower deductible or rental car is just not worth it. It's kind of like gambling, the house always wins in the end or the insurance company in this case. On the other hand for liability insurance I feel most people are under insured. If you are in an accident and even partially liable the costs can add up quickly and end up bankrupting you or wiping out your savings. I've opted for $1M liability insurance and the increase in cost is not that large. I've even considered adding umbrella insurance as well.

 

[miimura]

My record is spotless. Since I consider myself an impeccable driver (0 claims/accidents in 27 yrs of driving) I opted for the most savings (ie highest deductible, lowest coverage, no rental, etc), OC subburbs, and good driver, multiple cars, multiple policies, renewal discounts: $361/6mo. Also, the car listed is a Toyota Rav4 (does not say Rav4EV - I asked but they said it was the same). I'm insured with Travelers.

I have a similar record and discounts and am paying just slightly less than you through USAA for the RAV4. I agree that paying for a lower deductible or rental car is just not worth it. It's kind of like gambling, the house always wins in the end or the insurance company in this case. On the other hand for liability insurance I feel most people are under insured. If you are in an accident and even partially liable the costs can add up quickly and end up bankrupting you or wiping out your savings. I've opted for $1M liability insurance and the increase in cost is not that large. I've even considered adding umbrella insurance as well.

$1M Liability is a good idea, but you're better off with it on an Umbrella policy than having it only on your auto policy. It will cover more situations, but there are guidelines for the minimums on the underlying policies. A good insurance agent will know how to do this right at the minimum additional cost.

 

[fusiondynamics]

I'm paying about $850 for the year full coverage. I know it depends on your age, number of cars...
I'm in the SF bay area.

 

[miimura]

There's a bunch of responses in this earlier thread.

 

[tjka4231]

I'm paying $750 a year with $250 deductibles for comprehensive and collison through the insurance company with Costco.

 

[mark_rivers19]

GEICO pampers me with the best rate ( my previous co was Allstate)
(it's kinda funny, back in the NorthEast, my Allstate was lower than GEICO.)

anyway, i have 3 cars insured with GEICO ( Lexus RX350, Honda Civic, Toyota RAV4 EV) and i'm paying $1,074/ 6 months for all 3.

Coverage goes:

Bodily Injury Limit : $300,000/300,000
Property Damage : $100,000
Uninsured motorist: $300,000/300,000
&Underinsured motorist

Rental car insurance : not carried ( since i have 3 anyway)
mechanical breakdown coverage : not carried also since i have AAA
Emergency Roadside Assistance : not carried also since i have AAA

Deductible is $500.00 ( Comprehensive and Collision)

so basically the breakdown is as follows:

1.2013 Lexus RX 350 : $ 393.80 / 6 months
2. 2013 Toyota RAV4EV: $ 329.50 / 6 months
3. 2013 Honda Civic 4dr : $ 351.60 / 6months

i don't think it's the price of the car ONLY, since he honda Civic which cost much less has a higher premium than the RAV4EV. i know insurance Co goes accident data.
i have a perfect driving record. No tickets not even a parking one. i hope it stays that way.
( and my wife has the same record as well)