The words “affordable” and “insurance” probably shouldn’t be used together, specifically when you are trying to find the best car insurance for electric cars. To help control this cost, let’s lead off by showing you some of the factors that have an effect on insurance rates, and find some ways to reduce the price of the next policy you buy.
Figuring out which companies have the best insurance rates for electric cars will take a little more effort than just quoting one company’s rates.
Each company uses their own formula to determine premium rates, so we’ll go over the most budget-friendly insurance companies in Lincoln, NE.
Cheapest Insurance Rates for EV’s
|Rank||Company||Cost Per Year|
|5||Farm Bureau Mutual||$980|
|7||Farmers Mutual of Nebraska||$1,009|
|Find Cheaper Rates Go|
Safeco may have some of the cheapest car insurance rates in Lincoln at around $780 a year. This is $536 less than the average premium paid by Nebraska drivers of $1,316. The Hartford, Auto-Owners, Allied, and Farm Bureau Mutual would also be considered some of the more affordable Lincoln, NE insurance companies.
In the above example, if you buy coverage from The Hartford and switched to Safeco, you could see a yearly price reduction of about $85. Customers with Auto-Owners might save as much as $116 a year, and Allied customers might lower prices by $169 a year.
Understand that those prices are averages across all drivers and vehicles in Nebraska and do not take into consideration a specific location for electric cars. So the insurer that fits your needs best may not even be in the top 24 companies in the list above. That emphasizes why you need to compare as many prices as possible using your own personalized driver profile and vehicle information.
The type of vehicle requiring insurance is one of the main factors that determines if you can find the most affordable insurance for electric cars. Vehicles with high performance engines, poor passenger safety features, or an increased likelihood of liability claims will cost much more to insure than more economical and safe models.
The list below illustrates car insurance premiums for some of the most economical automobiles to insure.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Ford Escape XLT 2WD||$788|
|Honda CR-V EX-L 2WD||$806|
|Ford F-150 FX2 Super Cab 2WD||$884|
|Dodge Grand Caravan SE||$891|
|Hyundai Elantra GLS Touring Station Wagon||$888|
|Volkswagen Jetta S 2.5 Station Wagon||$962|
|Ford Explorer XLT 4WD||$964|
|Jeep Wrangler Sahara 4WD 2-Dr||$973|
|Chevrolet Impala LTZ||$984|
|Ford Edge Limited AWD||$992|
|Jeep Grand Cherokee SRT-8 4WD||$1,000|
|Nissan Rogue SL 2WD||$1,005|
|GMC Sierra 3500HD SLT Extended Cab 2WD||$1,018|
|Chevrolet Silverado 3500HD LT Crew Cab 2WD||$1,023|
|Toyota Tacoma 2WD||$1,028|
|Honda Civic EX-L 4-Dr Sedan||$1,034|
|Chevrolet Malibu LT||$1,040|
|Ford Focus SES 2-Dr Coupe||$1,050|
|Honda Accord LX-S 2-Dr Coupe||$1,059|
|Toyota RAV4 Limited 4WD||$1,052|
|Chevrolet Equinox LS 2WD||$1,061|
|GMC Sierra SLE Crew Cab 2WD||$1,052|
|Start a Quote Go|
Table data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nebraska minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-vehicle, and multi-policy. Price estimates do not factor in your specific Lincoln, NE location which can impact prices greatly.
Looking at the data, we can conclude that makes and models like the Ford Escape, Honda CR-V, and Ford F-150 are a few of the most affordable vehicles to insure for eco-friendly vehicles.
Buying coverage from the best company is difficult considering how many companies are available to choose from in Lincoln. The ranking information listed below can help you decide which coverage providers to look at when comparing auto insurance rates for electric cars. These ratings are for companies that insure vehicles across America, so companies that have a smaller presence are not taken into consideration for these rankings.
Top 10 Large Car Insurance Companies in Lincoln Ranked by A.M. Best Rating
- USAA – A++
- Travelers – A++
- State Farm – A++
- GEICO – A++
- Nationwide – A+
- Esurance – A+
- The Hartford – A+
- Progressive – A+
- Allstate – A+
- The General – A-
Top 10 Large Car Insurance Companies in Lincoln Ranked by Customer Satisfaction
- USAA – 92%
- American Family – 88%
- State Farm – 88%
- Nationwide – 88%
- 21st Century – 88%
- The Hartford – 87%
- Progressive – 87%
- AAA Insurance – 87%
- Farmers Insurance – 87%
- Liberty Mutual – 87%
Safe drivers pay less for insurance
The ideal way to get the best insurance rates in Nebraska for eco-friendly vehicles is to drive safe and avoid accidents and keep your driving record clean. The information below shows how speeding tickets and accident claims drive up insurance costs for different insured age categories. The costs are based on a married female driver, full coverage, $100 deductibles, and no discounts are applied.
The data above shows the average cost of a car insurance policy per year with a clean driving record and no accidents is $1,330. Receive two speeding tickets and the average cost increases to $1,891, an increase of $561 each year. Now include two accidents along with the two speeding tickets and the annual cost of insurance for electric cars increases to an average of $3,885. That’s an increase of $2,555, or $213 per month, just for not keeping your driving record clean!
How much more does full coverage cost?
Saving on insurance should be important to the majority of people, and one of the best ways to pay less for insurance for electric cars is to buy only liability coverage. The example below compares auto insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The price estimates are based on no claims or driving citations, $250 deductibles, marital status is single, and no discounts are factored in.
As an average for all age groups, full coverage on your policy costs an extra $1,579 per year more than carrying just liability coverage. A very common question is if paying for full coverage is worth it. There is no exact formula of when to phase out full coverage on your policy, but there is a general guideline. If the yearly cost of comp and collision coverage is more than around 10% of replacement cost minus your deductible, then you may need to consider dropping full coverage.
For example, let’s assume your vehicle’s settlement value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $3,000 after you pay the deductible. If you are paying more than $300 annually to have full coverage, then it might be time to buy liability only.
How to find low-cost auto insurance for electric cars
Lowering your rates is not difficult, and here are some of the better thrifty solutions that can help drivers locate cheap coverage.
- Do not pay for comprehensive and collision coverage on older vehicles
- The safer your car, the less it costs to insure
- At-fault accidents can raise rates significantly
- Drivers with good credit often pay less
- Save money by bundling your home and auto policies
- Compare prices as often as possible
The final tip is remarkably crucial, as was pointed out in this write-up. Insurance rates can be modified anytime, so don’t be hesitant to buy a policy from a new company if a better rate can be found. Brand loyalty is great, but it’s not a great idea if that inflexibility results in costing you hundreds every year. It only takes a couple minutes to compare prices to find cheaper auto insurance for electric cars in Lincoln.
The professional agents shown below are a good start to provide answers to your questions and help you determine which auto insurance policy would work best for you, since many people would rather have some professional guidance when shopping for the best coverage for electric cars. It can be complicated to find the cheapest rate yourself, so getting advice from a licensed agent can add peace of mind knowing your coverage gives you adequate coverage when you need it most. To find a Lincoln insurance agent close to you, click the button at the bottom.
- Gale Breed – State Farm Insurance Agent
8421 Amber Hill Ct #1 – Lincoln, NE 68526 – (402) 483-2802
- State Farm: Shawn Kreifels
570 Fallbrook Blvd #111 – Lincoln, NE 68521 – (402) 435-2250
- Cornhusker Insurance Agency
6100 Apples Way #110 – Lincoln, NE 68516 – (402) 436-2423
- Ogden Insurance Agency, Inc.
8531 Lexington Ave #102a – Lincoln, NE 68505 – (402) 466-5655