The words “economical” and “auto insurance” probably shouldn’t be used in the same sentence, in particular when you are trying to find the cheapest car insurance for electric cars. Because of the high cost, let’s start off by going over some of the things that help determine auto insurance rates, and find some ways to take a little off your next policy.
Shopping around for low-priced insurance is challenging, and deciding which companies quote the cheapest car insurance rates for electric cars will require a bit more work.
Each company uses their own calculation for determining rates, so we’ll take a look at the car insurance companies with the most affordable rates in Phoenix.
Find the Cheapest Car Insurance for EV’s
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $836 |
| 2 | Auto-Owners | $915 |
| 3 | Safeco | $923 |
| 4 | Travelers | $1,075 |
| 5 | Progressive | $1,118 |
| 6 | USAA | $1,124 |
| 7 | GEICO | $1,166 |
| 8 | Ameriprise Group | $1,184 |
| 9 | Allied | $1,209 |
| 10 | CSAA | $1,225 |
| 11 | Farm Bureau Mutual | $1,259 |
| 12 | Safe Auto | $1,297 |
| 13 | Unitrin | $1,317 |
| 14 | State Farm | $1,323 |
| 15 | Farmers | $1,337 |
| 16 | Titan | $1,433 |
| 17 | American Family | $1,435 |
| 18 | Amica | $1,473 |
| 19 | MetLife | $1,521 |
| 20 | California Casualty | $1,552 |
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The Hartford quotes some of the most affordable car insurance rates in Phoenix at around $836 per year. Auto-Owners, Safeco, Travelers, and Progressive would also be considered some of the lowest-priced Phoenix, AZ car insurance companies.
In this example, if you are a policyholder with Safeco and switched to The Hartford, you could earn a yearly price reduction of in the vicinity of $87. Policyholders with Travelers may save as much as $239 a year, and Progressive policyholders might cut rates by $282 a year.
Be aware that those policy rates are averaged for all drivers and vehicles and do not factor in a specific vehicle garaging location for electric cars. So the car insurance company that can offer the best rates for your situation may not even be in the top 28 companies in the list above. That points out the importance of why you need to compare rates from as many companies as possible using your own specific driver and vehicle information.
For eco-friendly vehicles, one of the more important components that determine the amount you pay for auto insurance is where you live. Regions with more people or even just more weather-related claims tend to pay more, whereas areas with lower vehicle theft rates and fewer weather claims get the luxury of paying less.
The illustration below rates the most expensive cities in Arizona for electric cars to purchase auto insurance in. Phoenix is ranked at #1 having an annual price of $1,268 for the average insured, which is around $106 monthly.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Phoenix | $1,268 |
| 2 | Glendale | $1,226 |
| 3 | San Tan Valley | $1,196 |
| 4 | Avondale | $1,174 |
| 5 | Buckeye | $1,156 |
| 6 | Gilbert | $1,142 |
| 7 | Scottsdale | $1,129 |
| 8 | Peoria | $1,126 |
| 9 | Tempe | $1,118 |
| 10 | Mesa | $1,113 |
| 11 | Goodyear | $1,098 |
| 12 | Tucson | $1,094 |
| 13 | Chandler | $1,093 |
| 14 | Maricopa | $1,085 |
| 15 | Oro Valley | $1,062 |
| 16 | Surprise | $1,058 |
| 17 | Catalina Foothills | $1,050 |
| 18 | Casa Grande | $1,047 |
| 19 | Casas Adobes | $1,040 |
| 20 | Yuma | $963 |
| 21 | Flagstaff | $960 |
| 22 | Prescott | $942 |
| 23 | Sierra Vista | $890 |
| 24 | Bullhead City | $878 |
| 25 | Lake Havasu City | $844 |
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Table data uses estimated as the specific area where the vehicle is garaged can alter rates substantially.
The vehicle you are trying to insure is a significant factor when comparing quotes for economical coverage for electric cars. Vehicles with lots of horsepower, a lack of safety features, or an increased likelihood of liability claims will cost quite a bit more to insure than more modest models. The list below illustrates car insurance premiums for a selection of the cheaper automobiles to buy insurance for.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape Limited 2WD | $1,716 |
| Toyota Prius | $1,857 |
| Toyota Tacoma 4WD | $1,878 |
| Ford Explorer XLT 4WD | $1,888 |
| Honda CR-V EX-L 4WD | $1,963 |
| Chevrolet Silverado LS Regular Cab 2WD | $1,989 |
| Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr | $2,057 |
| Chevrolet Impala LTZ | $2,083 |
| Hyundai Elantra GLS 4-Dr Sedan | $2,092 |
| Jeep Grand Cherokee SRT-8 4WD | $2,122 |
| Nissan Altima 3.5 SR 4-Dr Sedan | $2,127 |
| GMC Sierra 3500HD SLE Crew Cab 2WD | $2,160 |
| Ford F-350 XL Crew Cab King Ranch 2WD | $2,165 |
| Get a Custom Quote Go | |
Table data represents single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Arizona minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, claim-free, and safe-driver. Rates do not factor in specific location which can impact coverage prices considerably.
Based upon these rates, models like the Ford Escape, Toyota Prius, Toyota Tacoma, Ford Explorer, and Honda CR-V are likely to be a few of the more affordable vehicles to insure for eco-friendly vehicles.
Rate increases following a ticket or accident
One of the best ways to score low car insurance premiums in Phoenix for eco-friendly vehicles is to drive cautiously and not receive tickets or have accidents. The example below shows how violations and at-fault claims can affect yearly insurance costs for different age categories. The premium estimates are based on a married male driver, comprehensive and collision coverage, $100 deductibles, and no discounts are factored in.
The data above shows the average cost of an auto insurance policy in Arizona per year with no accidents or violations is $1,963. Factor in two speeding tickets and the average cost swells to $2,719, an increase of $756 each year. Next add two accidents along with the two speeding tickets and the 12-month cost of car insurance for electric cars jumps again to an average of $5,425. That’s an increase of $3,462, or $289 per month, just for not paying attention while driving!
Phoenix car insurance company ratings
Choosing the highest-rated car insurance company can be challenging considering how many companies there are to choose from in Phoenix. The company ratings below may help you analyze which companies to look at comparing prices from. The ratings below are only comprised of large nationwide companies, so companies that only write business in Arizona or surrounding areas will not be included in this list.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 98 | 100 | 100 | 94% | A++ | 98.6 |
| American Family | 98 | 89 | 100 | 86% | A | 95.4 |
| State Farm | 88 | 93 | 96 | 90% | A++ | 92.4 |
| The Hartford | 94 | 92 | 90 | 89% | A+ | 91.7 |
| AAA Insurance | 88 | 89 | 95 | 91% | A | 91.2 |
| GEICO | 84 | 93 | 93 | 89% | A++ | 90.3 |
| The General | 89 | 91 | 89 | 88% | A- | 90 |
| Titan Insurance | 90 | 87 | 91 | 95% | A+ | 89.6 |
| Progressive | 84 | 91 | 93 | 87% | A+ | 89.5 |
| Mercury Insurance | 88 | 91 | 90 | 85% | A+ | 89.4 |
| Allstate | 85 | 90 | 92 | 88% | A+ | 89.3 |
| Nationwide | 87 | 88 | 84 | 90% | A+ | 88.7 |
| Liberty Mutual | 84 | 87 | 93 | 88% | A | 88.5 |
| 21st Century | 85 | 86 | 87 | 88% | A | 86.7 |
| Esurance | 85 | 80 | 95 | 87% | A+ | 85.9 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
The illustration below demonstrates how deductible levels can affect insurance prices when searching for cheap insurance for electric cars. The rate quotes are based on a married female driver, full coverage, and no discounts are applied to the premium.
As shown above, a 30-year-old driver could save $236 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $358 by using a $1,000 deductible. Youthful drivers, like the Age 20 chart data, could lower their rates up to $508 each year by choosing a higher deductible. When increasing deductibles, it will be required to have spare funds to be able to cover the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.