Insurance costs Spark EV verses Chev Volt , surprise

[buickanddeere]

My insurance agent had a surprise response after looking up insurance rates for a Chevy Spark EV and a Chevy Volt .
The Spark EV was 11% more expensive for identical insurance than the larger Volt .According to my agent given the same crash . There will be a higher injury payout to the Spark occupants vs the Volt occupants. The Spark EV is also more likely to be written off as a loss instead of being repaired.
Wasn't what I was expecting until thinking the explaination through.

 

[SteveC5088]

I have Mercury Insurance, 6 month premiums are:
2013 Volt: 356
2014 Spark 267

Hmmmm... I see they list the Spark as Spark 2LT SED 4DR
Nothing about EV.

The Volt gets driven more miles per year, maybe twice the Spark.

 

[buickanddeere]

Possibly location may play a factor? I'm in a snow belt four months of the year along Lake Huron. Ice or snow covered roads are the norm.

 

[Sparkler]

Volt seats 4 only.

My Spark cost a bit more than the Volt due to higher coverage required by the leasing company...

 

[tigger19687]

I got a quote for Mass, 1 full year, full coverage about $920

 

[buickanddeere]

For the Volt or for the Spark EV ?

 

[tigger19687]

Sorry, for the Spark EV

 

[emv]

I got a quote for Mass, 1 full year, full coverage about $920

I know you can't compare rates across regions and ages and records but WOW! We're paying a little over 1K per year on the SparkEV and an '05 Prius. Full coverage with low deductibles on both, gap on the Spark. That's with Progressive and, in the past, Flo's been good to me.

 

[tigger19687]

It may be less, this was last year and this car is not sold in Mass.
I think it is with no deduct.
I will let you know what I pay when I get one.

Right now I pay about $700 for an 2006 F-350 Diesel & 2002 Suburban, both full coverage, low deduct

 

[tigger19687]

I just asked them again (my ins) and they said about $680 a year full coverage,

 

[buickanddeere]

Approx $1700 and $1900 extra per year for Mrs B&D & myself with a Volt or a Spark EV. 2$ million liability, $500 deductible collision & $500 deductible comprehensive. Only one minor speeding ticket for Mrs B&D.

 

[tigger19687]

Had to give them a VIN to get an exact.
$1000 deduct Coll/Comp = $609 a year
I have 2 other trucks on there, and a minor violation (inspection sticker) from 2012.

 

[FutureFolly]

Approx $1700 and $1900 extra per year for Mrs B&D & myself with a Volt or a Spark EV. 2$ million liability, $500 deductible collision & $500 deductible comprehensive. Only one minor speeding ticket for Mrs B&D.

That's definitely above average liability. Your wife would have to run over a lot of people to exceed that coverage.

 

[DarrenDonovan]

Approx $1700 and $1900 extra per year for Mrs B&D & myself with a Volt or a Spark EV. 2$ million liability, $500 deductible collision & $500 deductible comprehensive. Only one minor speeding ticket for Mrs B&D.

That's definitely above average liability. Your wife would have to run over a lot of people to exceed that coverage.

Wow!! :roll: $1700 and $1900, $2,000,000 liability? why pay for over-coverage? Are there lots of lawyers where you live or something? :mrgreen: