The Dangers

The horror stories of electric cars spontaneously bursting into flames and burning down houses with people asleep inside kept me from investigating them further. A customer asked me the other day—hence the reason for this article—which was cheaper, a regular gas car or an electric. I didn’t know the answer. We then searched online for vehicle identification numbers of various electric, hybrid, and plug-in hybrid models to compare their prices.

Complete this Quote Request Form and provide us with as many Vehicle Identification Numbers as you need to see how much each one might lower or raise your rates.

The Challenge

The car manufacturers make it challenging to compare models within a single brand. I expected every car manufacturer to have one model made in all four platforms. Boy, was I wrong. Maybe one car company made a gas and hybrid option, but not all four.

For this customer, the price varied from $700 to $1,500 for six months, depending on the model and the insurance company. We noticed that the power platform didn’t matter. The electric vehicles varied from $800 to $1,500. The hybrids (non-plug-in) were comparable in price to the plug-in models, possibly a little lower. Gas or diesel cars varied widely in terms of safety features. Some were as low as $600, others $1,500. Your insurance costs might be higher or lower depending on your driving record and credit history.

Conclusion

What did we conclude? Shop around. Before you buy, give your agent a list of VINs to research and determine which one will be the most cost-effective for you. Don’t settle on the first one the salesperson shows you. We were both amazed at how significantly the prices varied across all four platforms. Of course, the car's price, the number of seats, and the country of origin all influenced the insurance cost. Perhaps the insurance companies factor in the availability of parts. Most of the vehicles we quoted were priced between $30,000 and $50,000.

Final note

I now know that there are numerous safe options available along the spectrum of vehicle power plants. The dangerous, exploding electric cars are rare, and enough time has passed for manufacturers to resolve most issues. My research persuaded me toward the plug-in hybrid. That way, if your battery runs out of charge, your vehicle can run on fuel until it gets recharged by the energy produced by the car, or you can plug it in. Some PHEVs claim they can travel as far as 700 miles on a single charge and fill of a 12-gallon gasoline tank with 70% less toxic emissions. I reached this conclusion because I do little city driving. My driving includes longer road trips. My 15-gallon tank can barely go 380 miles on the freeway. A hybrid might be a better option for you if you frequently drive in heavy city traffic. These indeed are exciting times.