What Car Insurance is Cheapest for Electric Cars in Seattle?

Establishing which company quotes the cheapest insurance rates for electric cars requires a little more effort in order to find the most economical policy. Each auto insurer has a unique formula for setting prices, so let’s take a look at the insurance companies with the most affordable rates in Seattle.

Cheap Insurance Rates for EV’s

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Cheapest Washington auto insurance companies
Rank Company Cost Per Year
1 Capital $784
2 Grange $822
3 Nationwide $952
4 PEMCO $974
5 Travelers $1,028
6 The Hartford $1,048
7 USAA $1,050
8 Mutual Enumclaw $1,054
9 Chubb $1,094
10 California Casualty $1,105
11 State Farm $1,141
12 Allied $1,142
13 Safeco $1,180
14 American Family $1,208
15 Amica $1,243
16 Liberty Mutual $1,309
17 Farmers $1,329
18 Progressive $1,510
19 National General $1,525
20 GEICO $1,673
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Capital may offer some of the lowest car insurance rates in Seattle at around $784 per year. Grange, Nationwide, PEMCO, and Travelers also qualify as some of the cheaper Seattle, WA auto insurance companies.

As shown in the table above, if you are a policyholder with PEMCO and switched to Grange, you could earn yearly savings of in the vicinity of $152. Insureds with Travelers may save as much as $206 a year, and The Hartford insureds might realize rate reductions of up to $226 a year.

Understand that those estimates are averages for all drivers and vehicles in Washington and and are not figured with a specific zip code for electric cars. So the auto insurance company that has the cheapest rates for you may not even be in the list above. That point stresses why you need to compare rates from as many companies as possible using your own specific driver information and vehicle.

The car, truck, or SUV requiring coverage is one of the biggest factors when consumers are trying to find cheaper auto insurance for electric cars. Vehicles with reasonable performance levels, a plethora of safety features, or low incidents of liability claims will cost significantly less to insure than fast, unsafe models. The information below ranks insurance premiums for a number of the more affordable automobiles to buy coverage for.

Cheapest Vehicles to Insure in Seattle, WA
Vehicle Estimated Cost for Full Coverage
Honda Accord LX 4-Dr Sedan $1,509
Ford Escape XLS 2WD $1,518
Honda CR-V LX 4WD $1,509
Jeep Wrangler Rubicon 4WD 2-Dr $1,696
Hyundai Elantra SE 4-Dr Sedan $1,881
Toyota Corolla XLE $1,887
Chevrolet Equinox LTZ AWD $1,914
GMC Sierra 2500HD SLE Crew Cab 4WD $1,923
Dodge Grand Caravan SE $1,942
Ford F-350 XL Crew Cab Turbo Diesel 2WD $1,984
Honda Odyssey LX $2,034
Kia Optima SX $2,045
Ford Fusion S 4-Dr Sedan $2,051
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Table data represents single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Washington minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, homeowner, and multi-policy. Premium costs do not factor in specific location which can modify coverage rates substantially.

Based upon these rates, we can presume that vehicles like the Honda Accord, Ford Escape, and Honda CR-V are some of the cheaper vehicles to insure for eco-friendly vehicles.

Cost difference between full coverage and liability

Reducing the cost of insurance is probably important to most drivers, and one easy way to pay lower rates for insurance for electric cars is to only pay for liability coverage. The chart below compares yearly insurance costs with full physical damage coverage compared to only buying liability only. The information is based on no accidents, no driving violations, $500 deductibles, drivers are not married, and no discounts are applied to the premium.

As an average for all age groups, full coverage costs an additional $1,394 per year over having just liability coverage. That is a big expense that brings up the question if buying full coverage is a good investment. There is no set guideline for phasing out comp and collision coverage, but there is a general guideline you can use. If the annual cost of your full coverage insurance is 10% or more of replacement cost minus your deductible, then you may need to consider dropping full coverage.

There are some situations where dropping physical damage coverage is not recommended. If you still owe a portion of the original loan, you have to keep full coverage in order to keep the loan. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should keep full coverage on your policy.

The illustration below shows how choosing a deductible can influence premium costs when quoting cheap insurance for electric cars. The premiums assume a married male driver, full physical damage coverage, and no additional discounts are factored in.

The data above shows that a 50-year-old driver could lower their policy premium by $204 a year by increasing from a $100 deductible up to a $500 deductible, or save $312 by switching to a $1,000 deductible. Younger drivers, such as the 20-year-old example, could potentially save as much as $682 every year by using a higher deductible.

When choosing a higher deductible, it will be important to have plenty of money set aside to cover the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.

Types of discounts on Seattle auto insurance

Cheaper Seattle, WA insurance for eco-friendly vehiclesAuto insurance companies that offer cheap quotes for electric cars may provide rate discounts that can reduce rates by as much as 40% or more if you meet certain criteria. Large insurance companies and a selection of discounts are:

The chart below illustrates the comparison of insurance prices with and without discounts. The price estimates are based on a male driver, no claims, a clean driving record, Washington state minimum liability limits, full physical damage coverage, and $500 deductibles.

The first bar for each age group shows insurance cost with no discounts. The second shows the rates with accident-free, defensive driving course, anti-theft, multiple vehicle, vehicle safety, and marriage discounts applied. In this example, the average savings per year on insurance for electric cars is 28% or $385.