How the Digital Age of Information Helps You Save Money

Making money and saving money has been made easy over the last couple of decades. Even though the cost of buying things continues to rise for the family, there are many ways to offset these increases, including using the internet to find the best deals. While you may need a little extra time in your schedule to the research, the time that you use is often well spent. In fact, to give you a little encouragement in doing so, here are just a few fundamental benefits of using the internet to find information that you need.

Knowledge on How to Make Good Investment Decisions

The average person can learn how to stretch their earnings by making smart investment decisions they have learned online. Even when people do not have thousands of dollars to invest in the stock market, they can still build a diverse dinar intel investment portfolio with the amounts that they have available. For instance, if you have an interest in growing your earnings by investing in penny stocks, you can find sites online that can assist you in achieving your financial goals. Some of these sites will help you to determine how little or how high you need to go to get started. You will learn what fees you may be required to pay along with what is considered to be reasonable or too much.

As you acquire more and more information and you begin to grow what you have invested, there are also sites that can help you to move to the next steps. For instance, you will have a chance to learn how to diversify your investments into stocks, bonds, mutual funds, certificates of deposits, real estate and a host of other investment opportunities that can help you to increase your financial wealth.

Good Info on Your Vehicle’s Fuel Cost

Sometimes people use a lot of fuel in their cars because they just don’t know how to avoid burning it up while they are on the road driving or simply filling it up when it is time. Thankfully, with so much valuable information online, there are a wide variety of tips and recommendations that can be used to minimize the cost of even owning a vehicle today. This information can help to save on the cost greatly on a weekly to annual basis when they are applied on a day to day basis. Based on info from consumers and experts in the fuel industry, just a few changes can a big difference in what you are paying out of pocket for the fuel for your car. Typically, one of the first things that you should know is don’t wait to fill your car and do not stop just anywhere to buy your gas. You should buy your fuel strategically, here are two great cost savings tips.

Don’t stop at gas stations that are located near the highway. You may know this rule from your own experience if you have noticed the differences in the price of gas in your neighborhood. Usually, because tourists need gas quickly when they are traveling to and from one city to another, they usually make pitstops for gas at those stations that are closer to their exit. In fact, they will not wander around farther into the cities that they travel through to buy their gas. Because of this, gas stations near the highways can charge quite a bit more for each gallon that they sell. For instance, due to the higher demand and less accessibility for the gas that they need, some places may charge as much thirty cents more per gallon or more.

Slow down and drive steady 

Driving fast to get to the place that you need to go may save you a little time, but it will also increase the amount of fuel that your car consumes. To avoid paying for a heavy foot on the gas syndrome, you should change your driving practices. For instance, rather than leaving late, you should leave early enough to take it easy so that you can drive at reasonable speed within the law and at a smooth pace.

The digital age of information is beneficial for many different reasons. With so much info available on the internet today, this data can easily become overwhelming. However, as you learn how to dive in to get what you need, you can use what you have found to save money and increase your wealth as you go.

You Can Save Money in Many Ways

The prices of commodities keep on increasing and we must be managing our resources responsibly. Food, clothing, and fuel are some of the basic needs that every person needs. We need to determine ways to save money because it can help us manage our finances. The more resources we conserve, the fewer expenses will be generated. Here are some of the strategies that everyone should follow especially if they wanted to save their resources.

Tips on buying stocks

When buying stocks, make sure that it will give you profit. Most of the time, people are carried away by the sudden price increase of a stock. Suddenly the price drops leaving them in limbo. You need to hunt for companies that give the best dividend stocks because it can help you establish your wealth. Lastly, do some research before buying a stock. Many people thought that the stock market is a simple way of earning money, but what they never realized is that the stock market requires a lot of skills. People who want to enter the stock market should have basic knowledge of how the stock prices move. When you master trading at the stock market, you will be surprised by the amount of money that you can earn.

Tips on saving fuel

Fuel is one of the most important resources that people need. However, many do not realize that they end up wasting fuel, especially if they are not following these tips:

  • When driving, make sure that your vehicle is not running against the wind. Your vehicle needs to become aerodynamic to prevent the generation of additional force when facing the winds.
  • Slowing down can also help you save more fuel. For example, if you are running at a speed of 80 mph and suddenly you slow down to 70 mph, you will be able to save at least twenty-five percent of your fuel.
  • The vehicle should also undergo regular maintenance to save more money. It includes changing the oil more often and checking the pressure on the tires.
  • Finally, you need to drive carefully because reckless driving can waste your fuel and you need to watch out for your vehicle’s fuel economy.

Tips on saving money when purchasing groceries

To save money on your groceries, you need to make sure that you create a list before going to the store to buy what you need. Avoid additional purchases, especially if it is not on your grocery list. Another thing that you should remember is to store your food effectively by freezing it or storing it in the fridge. This is important, especially when you want to make the most of your money. Lastly, you need to stick to your meal plan. It would help you save more money if you are following a strict plan for the week. You can also try being creative and learn how to mix and match the ingredients.

Tips on saving money when buying clothes

Clothes are not as important as food and fuel, but it is still a basic necessity. If you want to buy new clothes, you should think if you need it. Think twice before making any purchases because most of the time the clothes you buy end up inside the closet.

If you have old clothes that are only sitting inside your closet, try to sell them. Run a garage sale and try to sell to the public. If you need to buy clothes, try searching for coupons online. You can also hunt for the specific clothes that you are looking for through online retailers like eBay and Amazon.

Saving a lot of money can help us, especially during emergencies. Bank savings are the most preferred choices by the majority of the population, but because of the fees that are imposed by the bank, people tend to look for alternatives. Opening an account at the stock market and saving resources is becoming a better alternative for a lot of people. While it may require small sacrifices in the beginning, saving money by managing your resources responsibly would become beneficial in the long run. You should always look for the positive side of the situation and do everything that you can to save a lot of money.

7 Simple and Small Ways to Save on Gas

While gas prices fluctuate most of the time, they seem to be on the rise. When there’s an increased demand for gasoline, such as the holiday season, that’s when the prices go up. The current gas prices in California, New York, and Texas are all different. California is the highest at $4.99, with New York at $2.98 and Texas at $2.61.

Utah car accident reports today are on the rise as well. People are out driving each day and accidents do happen. It’s important for drivers to learn how to drive safely and efficiently so they’re not negatively impacting the environment. When they are driving efficiently, they are also saving gas. 

If you’re a driver, you know how expensive gas is. But you have to drive to get to places. Finding the cheapest gas stations isn’t easy, but it’s possible when done effectively. There are several ways that you can save money at the pump. Here are seven tips that can help you save money on gas so you can reduce your environmental footprint.

Get Your Vehicle Serviced

One of the best ways to save money on gas is to get your vehicle serviced on a regular basis. Maintaining the health of your vehicle can greatly improve its fuel economy. One thing you’ll need to do is replace old or dirty filters as soon as possible. Then you should use the right motor oil.

Using the wrong motor oil makes your engine work harder and costs you more gas money. Make sure your tire pressure is always at the same level as recommended by your car’s manufacturer. You also should make sure that your tires are properly aligned. Regular service and maintenance can go a long way with saving money on gas.

Use the A/C Wisely

You may want to crank up the A/C on the hottest days of the month, but it’ll cost you more money on gas. If you end up driving fast, then driving fast with the windows open can cause drag and decrease fuel economy. If you use the A/C when you’re using the highway or freeway, you’re less likely to save money on gas. Depending on the vehicle, your A/C will turn on when you defrost your windshield. Using a less powerful setting can help you avoid wasting energy.

Find Cheap Gas Stations

When you’re looking for the cheapest gas station, you should stay away from wealthy neighborhoods. Use an app that can help you find the cheapest gas stations in your local area or in the suburbs. Some popular apps include AAA TripTik Mobile, GasBuddy, and Waze to help you find cheaper prices within your area. If you don’t want to use so much gas, wait until your tank is empty to fill it up.

Getting gas more than once a week is not a good idea for your vehicle. It could cause damage to your engine. It’s best to fill it up when you have a quarter tank of gas.

Drive More Efficiently

Not only should you monitor your speed, but you should also pay attention to your surroundings. Shut off the engine if your car has been idle in traffic or in a parking lot for a long period of time. Avoid driving over potholes and making sudden stops. Both of these tips can help you save money on gas.

Depending on the type of vehicle you own, you should use cruise control if you plan to drive for an extended amount of time. This allows you to less gas. In addition, you can save your money for an electric car, hybrid, or another type of fuel-efficient vehicle. Investing in a smart car will make better sense if you want better gas mileage.

Travel Lightly

Driving around with heavy cargo is enough to drag your vehicle down. Clean out your trunk every so often and remove anything that you don’t need. Getting rid of excess weight in your vehicle will allow you to increase your vehicle’s fuel economy.

Earn Rewards for Getting Gas

If you’re someone who drives a lot for work or for personal reasons, then you should apply for a credit card that provides rewards or points for getting gas. Depending on the credit card, you could earn up to 5% that you can use towards gas.

Saving on gas takes a little creativity. By changing the way you drive and taking care of your car, you can save hundreds on gasoline. If you want to determine the best times to get gas, then you should take advantage of it. The best times to get gas is usually early in the morning or late at night before closing time.

Why Americans Swear By Used Car Parts

One thing that all Americans have in common is the love for their vehicles. Even back when cars first came out into the light in 1885, Americans were going crazy for their new form of transportation along with how the motor worked, the different styles they could choose from, and just simply how the car sounded starting up for the very first time. In today’s society, almost everything revolves around transportation. Fortunately for our car-loving American citizens, the love for cars has taught them how to properly care for every part in the vehicle. From the type of gas put into it, yearly inspections, and proper maintenance, every car owner knows what it takes to keep their vehicle up and running with just a little love and knowledge of automotive science.

Breakdown Problems

Due to the high need for transportation, when a vehicle breaks down it becomes a very large problem. When someone’s car is out of commission, it means no work, no grocery store trips, and no rides during emergency situations. In order to avoid this happening, it is always ideal to find used auto parts in case this incident was to occur. By knowing where to find a used car parts company, a car owner can contact them directly as soon as a part becomes broken and the problem can be resolved almost instantly.

Tips For Searching For The Best Used Car Parts

As there are many used car part stores in larger cities, it is important to shop around and find the most suitable pricing for what you are looking for. Even if there is a particular store that is easy to access, sometimes it is financially easier to skip a few towns over to save money on the parts needed to get a vehicle up and running properly. Another important aspect to consider when shopping for used parts is how old the item really is and what they are asking as far as price goes. No one wants to spend a bunch of money on a part that will not make it through the week.

Benefits of Purchasing Used Car Parts

  • Availability. When purchasing new car parts, there is a higher chance of the parts store not having the correct part compared to success rate of finding the correct one in a used parts store.
  • Price. The most obvious benefit to shopping for used car parts is the price. No one can go wrong purchasing the same part for half the price with just a little wear and tear.
  • Refurbished items. Almost all used car part stores offer refurbished parts which means the part was restored for optimal use. These are almost always the better option as buying just a used part can leave you wondering how long it will actually last.
  • Shopping online. Today, car owners have the luxury of purchasing their used car parts online and they are delivered right to their front door.

There is no better feeling in the world for an American than when a used car part is installed into their vehicle and it fires up perfectly. Sometimes used parts can be hard to find. You might have to go to a few companies before you find what you need.  When you do get your part and it runs correctly, it is the best luck someone could have. Once a vehicle is running after a used part is installed, it is always important to take it for a few test runs to make sure it doesn’t break or cause any problems in another area of the vehicle. Once the car is deemed as safe, there are no more missed shifts at work or worries of not being able to make it to the store for food for the family. Even though everyone wants new products and parts for their vehicle, sometimes it cannot always be done and used car parts will have to become a part of their lives. Once they are purchased for the first time, all the benefits from used parts will keep them coming back for more.

Taking Care Of The Cars We Love

Our cars take care of us, we should do the same for our cars. Many hard-working people build a car so when it rolls off of the assembly line it is balanced in fluids and specifications. As we drive the car, the balance slowly is thrown off by wear and tear. This is why the dealers want you to bring the car in for all the routine maintenance to keep the balance of the car. Getting the oil changed is just the beginning of caring for your car. You are smart about everything else, be smart of taking care of your car.

Smart Car Maintenance

The engine in the car is one of the most expensive parts to fix. By taking excellent care of your engine, you can keep your car running to over 200,000 miles. There are no guarantees, but history shows that when a person takes care of their car, their car lasts. The first thing you always want to do is change your oil and oil filter every 5000 miles, or 3000 miles, depending on who you talk to. Keeping necessary parts lubricated is also important. You can find out about the perfect oil for your car at CITGO Lubricants. There are some parts on your car you can replace yourself and others need to be done by a mechanic. Spark plugs, windshield wipers, air filters, and tires are items that need to be checked and replaced when needed.

Keep Meticulous Records

Start right now with good record keeping for your car even if you haven’t kept a record in the past. There is no time like the present. You can make columns to record what you had done to the car, how much it cost, and most important when you had the maintenance done. If you have a new car, your owners manual usually helps with this. It is not enough to rely on the dealer to give you receipts. You should keep a detailed record yourself. It is really useful. This way if you can get something completed for less money than the dealer, you can have a record of it. A ledger helps you have a handle on your own car.

More Smart Car Maintenance

Keeping your car clean inside and out is always smart. If you just take a little time every week to have your car ready for the next week, it will make keeping it clean easier. Be careful where you clean your new car as not all car washes are the same. A hand car wash and dry is the best. The heavy machinery can sometimes buff off the wax that protects your car. Follow the instructions in your owners manual. Belts, brake pads, and radiator fluid are more areas that you want to keep up to date on your car.

Doing Things Yourself

There is some maintenance you can do yourself on some cars. The newer cars tend to be more difficult to maintain on your own. You can always check your own tire pressure and keep it balanced. You can fill your own wiper fluid. The more you know your car, the more you may be able to maintain on your own. If you are in doubt, then it is better to have a professional mechanic work on your car. If you can make friends with a mechanic that will not overcharge you or lie to you, it is the best thing. No matter whether you do your maintenance or you get it done, make sure you record everything you do on your car. If you go to sell your car, your maintenance record will help you get a better price because you can prove you have maintained the car.

Being smart about the maintenance of your car creates a feeling of freedom. Knowing that your car is in good proper order really helps in feeling confident in driving your car around. Keeping good maintenance on your car will also most likely lead to the least chance of getting stranded on the side of the road. Start your car maintenance records today.

The Most Fuel Efficient Luxury Vehicles 2019

The vast majority of car owners have become more environmentally and economically-minded when buying cars over the past few years; this has also extended into the luxury vehicle market, including both cars and SUVs. Because of that, car manufacturers have been putting more and more effort into ensuring that their cars get as much mileage out of a full tank as possible. However, that doesn’t mean that all luxury vehicles are getting the same amount of mileage out of a tank.

On the contrary, there’s quite a spectrum of fuel economies across manufacturers, and even across makes. Because of that, there are quite a few luxury vehicles that stand out as being the most fuel efficient. This means that if you’re in the market for a luxury vehicle but its fuel economy matters, then there are certain vehicles to look out for.

Lexus RX 350

The 2018 Lexus RX range was one of the biggest sellers in Lexus’ range, and it’s no surprise why. On top of being one of the most fuel-efficient SUVs on the market, the Lexus RX range offers a whole load of different features that radiate luxury. In terms of its fuel efficiency, a four-wheel-drive version of the Lexus RX 350 will get you an EPA-estimated 20 mpg in the city and 27 mpg on the highway. However, a two-wheel-drive Lexus RX 350 will get you about 1 mpg less than its counterpart. With that, it’s one of the most fuel efficient vehicles on the market, not just SUVs. Many Lexus dealers in Alabama will tell you as much.

BMW X5 xDrive40e

BMW has a variety of powertrain options for its X5 range, although it’s the hybrid xDrive40e that ends up getting the best mile per gallon. As it’s a plug-in hybrid, it’s able to get that much further with each gallon; as a result, the EPS estimates that it gets 56mpge combined fuel economy. In terms of a high-end luxury SUV, there’s almost nothing that rivals it. In terms of out-and-out luxury, the BMW X5 comes equipped with the likes of 14-way power-adjustable front seats and synthetic leather upholstery as standard.

Lexus ES

Lexus has a history of making sure that their cars get as much mileage as possible out of the tank, regardless of whether it’s a luxury car or SUV. However, the 2019 Lexus ES range proved to be exceptional, even for their standards. In the EPA’s recent report, it gives mileage estimates of 43 mpg city, 45 mpg highway and 44 mpg (5.47 l/100 km) combined for the 2019 Lexus ES 300h. This made it the most fuel-efficient luxury car not to have a plug. The range doesn’t compromise on luxury either and includes all the features that enthusiasts have come to expect from a Lexus.

BMW i3

The 2019 BMW i3 was named one of the better electric cars to be released on the market this year. This is because it outperformed many of its fully-electric competitors when it comes to fuel economy. EPA estimates suggest the BMW i3 can get 81 miles on a single charge while returning a combined city and highway 124 miles per gallon equivalent. It should be noted, however, that these tests were done without the use of BMW’s range extender, which has been noted to significantly improve gas mileage. This is a gasoline engine designed to give the model a little bit more of a kick in its mileage. Because of that, it could be speculated that the BMW i3 could have a lot better of a fuel economy than the EPA ruling may suggest.

Tesla Model 3

Tesla has always designed their cars to be as environmentally friendly as possible; this also meant giving their models as much mileage per charge as possible. Because of that, the Tesla Model 3 boasts a combined city/hwy of 130mpge. On the highway, these means 123mpge while it gets an estimated 136mpge in the city. Tesla has also been improving the luxury of their cars over the past few years, with several of their most recent models breaking into the luxury car market. As such, the Tesla Model 3 earns itself a place as the most fuel economic luxury vehicle currently on the market.

However, car manufacturers are constantly looking to improve their cars’ fuel economy, so these should improve on a yearly basis. After all, the only way forward is to make them as fuel efficient as possible.

3 Tips For Starting Your Diecast Car Collection

As you undertake efforts to reduce your expenses at the gas pump, it’s only natural that you will find other ways to invest that money. For many auto enthusiasts, this extra cash goes directly toward building their diecast car collection. But what if you’re new to collecting and unsure how to begin? The following tips will get you started on the right track.

1.    Determine Your Collecting Preferences

Many new collectors find it best when they narrow the scope of the type of models they wish to collect. Maybe you want to exclusively collect diecast cars of your favorite brand. Or perhaps you prefer to collect models that evoke a particular time period, such as the 1930s or 1970s.

Limiting your collection to a particular size can also be helpful as you get started. Some of the most popular scales are 1:12 (which are large, extremely detailed models) and the much smaller 1:87 (which is used with H0 model trains).

2.    Know Your Maintenance Needs

Diecast models don’t require too much maintenance, but if you want them to stand the test of time, there are still a few things you need to do. Start by ensuring that your models are stored in a dry area that is kept at room temperature. This will prevent potential environmental damage caused by moisture or extreme temperatures.

In addition to proper storage, you should take the time to dust your models regularly. This helps prevent gradual damage to the paint. Of course, it also helps to keep your models out of reach of children. Far too many collectors have seen their prized possessions damaged by a child who thought they were toys.

3.    Display

There’s not much point in collecting diecast models if you’re going to keep them in a box in the attic. To truly enjoy your collection, you need to find the right place to display it. Prefabricated display cases can provide much-needed protection to your cars. Such cases should be placed in a well-lit area that helps your collection stand out.

Of course, not every collector wants to keep their models behind a glass case. Many incorporate their cars as part of a model train set, creating a unique and fully customizable display method.

Conclusion

While these principles are good for beginners, what is ultimately most important is that you find personal enjoyment and satisfaction in building your collection. Whether you limit your collection to just a few cars or eventually purchase hundreds of models, these long-lasting collectibles will be sure to provide lasting enjoyment for years to come.

Tips for Successful Road Trips

Do you have a road trip on your bucket list? The options for destinations are truly only limited by your imagination. Whether you’re travelling solo, with friends or family, a little advanced planning will ensure your road trip is a huge success filled with memories to last a life time. Follow these recommendations from the professional road warriors to ensure your trip goes as smoothly as possible.

Decide if you’re driving straight to your final destination, staying for a few days or a week, or if you intend to make multiple stops overnight along the way. Once your dates, destination and budget have been secured, it’s time to ensure your transportation is set. If your intent is to drive your own vehicle, take this opportunity to have all inspections completed. Check the tire pressure and tread, windshield wipers and oil and fluid levels. If you’re not confident your vehicle can make a long road trip without encountering major problems, consider taking advantage of the awesome deals offered by Groupon coupons and snag a Dollar Rental Car coupon. A deal on a new vehicle will certainly provide peace of mind for your road trip.  It’s also substantially cheaper than securing plane tickets for the group or entire family.

Research online or with your local car and driving association the best routes for your trip. Sight-seeing options across the country abound. Determine the maximum amount of time you’re prepared to drive each day. Know that driving safety experts recommended driving no more than two hours for one stretch. Plan stops at least every two hours to stretch and take a short walk. If there are multiple drivers in the car, this is also the opportunity to switch drivers.

Finally, begin to research your lodging options along your designated route. From luxury hotels to shared rooms, the options are nearly limitless. Book your accommodations well in advance of your trip. Making the assumption that hotels along your route will have vacancies upon your arrival is risky and could put a damper on our road trip. Be sure to take plenty of pictures along the way as this is sure to be a road trip full of wonderful memories that can be enjoyed for decades to come.

5 Fixes That Can Improve the Gas Mileage on Your Car

With fuel prices rising all the time, there has been no better time to carefully evaluate what can truly be done about how much we end up spending on gas or diesel. Mileage per tank has really gone up over the years thanks to engineering improvements. However, no one feels “neutral” about the numbers that come up next to the dollar sign at the pump.

Looking for a way to keep some extra cash in your pocket and make improve your gas mileage?

Regular Maintenance

Keeping your engine running in optimal condition is one easy and important step to getting the most bang for your buck when it comes to your fuel bill. When everything is clean, there’s no clogging, and your oxygenator is running as it should, the fuel will burn more efficiently and cleaner than if you let gunk accumulate under the hood of your car.

Minimize But Expand When Needed

It’s common sense that the smaller and lighter your car is, the less fuel it burns. However, there’s only so small you can go when you have your daily tasks to attend to, whether that’s for your job as an electrician or your role as the chaperone for the school field trip. The key is to get a size that works for your lifestyle most of the time, and for times when you need more, just get an addition. Nothing can beat the convenience of a fibreglass truck box for your vehicle when you have a lot of equipment that you need to tote around (fibreglass is the lightest utility material you can find). Otherwise, a hitch and a trailer could be something worth investing in instead of getting a larger vehicle.

Drive Smartly

We all have somewhere to be. However, slowing down to speed limits can also mean saving some gas money. Staying around and under 55 mph can get you further on your tank, as the fuel economy of most cars drops off after 60 mph. You might not save much time, but you will save some nickels for your next road trip! If you want more specifics on the best speeds to travel at for maximum fuel efficiency research your car make and model.

Decrease Air Drag

You might think that these are just small details, but even something like a roof rack can majorly increase the drag on your vehicle, sabotaging your fuel economy. If there’s anything attached to your car that could be increasing the drag on it, you will want to take it off for longer trips or for long swaths of time that you aren’t using it for. The same goes for weight- if there are some heavy objects just “hanging out” in your vehicle, think about how you are paying for that extra weight in fuel. It’s a real thing.

Tires at Right Pressure

Not only is keeping your tires at the right pressure important to the safety of your vehicle, but it improves your gas mileage. It’s also a great idea that will make your tires last longer than when they are underinflated. Make it a point to check the pressure on a weekly basis and refill as necessary. It doesn’t take much time or effort as there are pumps usually available at gas stations, and it can mean a lot to your safety and your wallet.

Regular maintenance and care can go a long way on how much you spend on your vehicle fuel on a weekly or monthly basis. Start with these 5 tips and let us know how it went!

Auto Insurance Considerations for Electric Vehicles

There are many reasons to buy an electric car.  From the environmental reasons to saving money at the gas tank, electric cars are becoming an increasingly popular option on the market. One thing that people might not think about prior to buying an electric car, however, is how much insurance on such a vehicle will cost.  While there isn’t a complete consensus out there, some evidence might suggest that electric cars are more expensive to insure than their non-electric counterparts.  On the other hand, some suggest that it’s still depends on the specifics of the individual car —what’s the engine size? Is it considered a fast and therefore, a more “reckless” vehicle? How high is the price tag? Is it a more expensive vehicle?

Is insurance higher for electric cars in general?  Here are some reasons why it could be:

1) Higher repair costs 

If a vehicle is more expensive to repair, then your auto insurance coverage is going to be more expensive. A BMW with expensive parts is going to have a higher insurance premium than a Honda Civic that uses cheaper parts.  Most electric vehicles will tend to fall closer to the part costs of a BMW than a Honda Civic, so insurance premiums will likely be higher.

2) Higher price tag

Electric cars tend to be more expensive in general than their non-electric counterparts.  For example, a new 2017 Fiat 500 might cost you around $15,000, while the electric version of the car, the 2017 Fiat 500e, is going to cost you twice that around $30,000.  So, insuring the electric version of this car is going to cost you more than the non-electric version, simply because the price tag is doubled.  As the price tags of electric cars drop, so will the cost of insurance.

3) Smaller cars tend to be more damaged in accidents than larger cars 

Of course, not every electric vehicle is a small car, but a lot of them are.  For these cars, an insurance company might consider the size as more “risky” when it comes to the cost of repairs after an accident.  In their minds, a small electric car might get a lot more banged up and thus require more money in repairs than a larger vehicle.  This is certainly not a blanket factor for all-electric cars, particularly now that we’re seeing a lot of larger electric models coming to the market.

Overall, are electric cars more expensive to insure than non-electric cars? While the evidence might suggest that it is, it still simply boils down to the individual cars.  As long as electric vehicles cost more to buy and to repair than non-electric vehicles, they are going to cost more to insure.  Of course, with electric vehicles, you’ll see a lot of savings at the gas tank and other financial and environmental benefits, so the higher insurance rates might not be problematic and might “pay for itself” with these other extra savings.

Just shop around all of the insurance companies and be sure to check out the discounts they offer to find the coverage that is right for your electric vehicle.

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