Marie Coronel is the proud daughter of Filipino parents. Marie grew up in South San Diego and graduated from Eastlake High School in Chula Vista.
SAN DIEGO — Electric vehicle drivers are paying 49% more for car insurance compared to drivers of gas-powered vehicles, according to recent data from Insurify, an AI-powered online insurance comparison platform.
EV drivers face an average insurance cost of $4,058 a year, compared to the average cost to insure a gas-powered car, which is about $2,732. This is due to higher repair costs and expensive parts such as battery packs and high-tech hardware. James Olaleye drives back and forth from San Diego to Los Angeles every week for his business, logging about 120 miles each way. He switched to an electric vehicle to save money at the gas station.
'I do use the truck a lot for work. I pick up vacuum-sealed bags, deliver sometimes to small businesses,' Olaleye said.
'I just go with the cyber truck because you know it's save me money over time,' Olaleye said. That was until he got his insurance premium. Olaleye said his insurance jumped to $600 a month.
'Most people they buy electric car. They don't even know about the insurance. I didn't know about it you know I thought it was going to be the same,' Olaleye said. Experts say there are ways to save if you have an EV.
Drivers can ask their insurance provider to bundle discounts, as many places will offer a discount for bundling auto insurance with home or renters insurance. Another option is to increase your deductible, which lowers the premium, and to shop around. Patty Villegas said she found an insurance carrier that increased her policy by just $35 a month.
She suggests doing research and crunching the numbers to see if buying an EV is worth it when factoring in charging costs and gas.
'I drive a lot. I'm a real estate appraiser so I'm always on the road. So I was spending between $200 to $33 per week in gas,' Villegas said.
'If I charge here it's free and then at home my bill ends up only $20 per month,' Villegas said. This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
Electric Vehicle Insurance Electric Vehicle Or Gas Ev Ev Insurance Ev Or Gas
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
5 Sci-Fi Books With 10/10 Plot Twists We’re Still Thinking About Years LaterComic Book Movies, News, & Digital Comic Books
Read more »
Suburban mom thanks fast-thinking stranger who saved her life on Christmas EveA south suburban Tinley Park woman and her unborn baby were saved on Christmas Eve when she suffered a medical emergency and a stranger came to her rescue.
Read more »
Teaching Critical Thinking to Protect Kids on Social MediaInstead of banning social media for young people, an expert suggests teaching critical thinking to help them navigate online dangers. Dr. Maree Davies, author of 'Teaching Critical Thinking to Teenagers,' explains how this skill can protect kids from misinformation and scams while also benefiting their future careers.
Read more »
Analysis: What Disney is thinking as it faces a First Amendment fight with TrumpLet’s imagine what it’s like to be Josh D’Amaro right now, as the FCC challenges ABC’s station licenses while President Trump calls on Disney to fire Jimmy Kimmel.
Read more »
When intelligence looks real, but the thinking isn't there.AI doesn't replace thinking. It replaces the feeling that thinking is necessary in the first place.
Read more »
Melania Trump adviser reveals what first lady was thinking as Secret Service rushed WHCA DinnerFox News Channel offers its audiences in-depth news reporting, along with opinion and analysis encompassing the principles of free people, free markets and diversity of thought, as an alternative to the left-of-center offerings of the news marketplace.
Read more »