Will electric vehicles (EVs) be cheap to insure? While we won't have a definitive answer to this question until the silent rides hit the roads en masse, reports pouring in, based on some key assumptions, indicate that battery-powered autos, the Nissan Leaf in particular, should be less costly to insure than equivalent internal combustion engine vehicles. Here's a rundown of the reasons why UK-based finance company Credit Plus thinks that the Leaf's insurance rates will hurt the ol' pocketbook a little less than ICE vehicles do:
- Warranty: Nissan offers an eight-year, 100,000-mile warranty on many of the Leaf's vital electrical components. Lengthy warranties mean that more costs are usually covered by the automaker and less risk is assumed by the insurer.
- Accident rates: The Leaf, with its 100-mile range, is expected to be driven less than a conventional vehicle. Less time spent on the road means that the likelihood of being involved in an accident drops off significantly.
- Driving style: In an effort to conserve battery energy, it's thought that many EV drivers will be less aggressive with the accelerator pedal and pilot the vehicle in a more relaxed manner.
- Uniqueness: The electric vehicle will draw in a unique buyer, one that is educated in autos and cares about the vehicle that he or she drives.