Several major auto insurers have announced expanded discount programs for electric vehicle owners effective this spring. The discounts range from 5 to 12 percent on comprehensive and collision coverage.
Industry analysts say the move reflects lower claim severity data for EVs, which tend to have advanced safety systems. However, repair costs for battery-related damage remain a concern for underwriters.
Drivers considering an EV purchase should factor in these new insurance savings alongside federal tax credits when calculating total ownership costs.
