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November 11, 2020

Best Auto Insurance for Electric Trucks

Car insurance can be a tricky topic to discuss, especially regarding those covering the relatively recent electric vehicles. Many people have differing opinions on the best one to get; adding electric trucks to the mix only intensifies the confusion.

The truth is that electric trucks are relatively new to the scene. Most insurance companies do not provide comprehensive cover for them, but those who do usually price electric vehicle insurance way higher than other conventional vehicles.

One of the reasons for this hike in insurance price is the cost of repairs, and the simple fact is that electric vehicles are worth more. No matter what electric truck choice you make, comparison shopping is the best way to find a great deal on insurance.

Insurance for trucks and other electric cars is similar to typical car insurance in that they cover standard coverages (collision, comprehensive, personal harm, etc.). Companies like Tesla have their own insurance units set up to cater to their vehicles. Technically, buying insurance from the same company you purchased a car is usually advisable. Other insurance companies like Geico, Allstate, USAA, Liberty Mutual, and other notable insurers also provide electric vehicle insurance.

The Ford Ranger

Renowned among country people for its ruggedness and strength, The Ford Ranger always gets the job done, be it climbing mountains or passing through rough terrains. As a result of this, the Ford Ranger is liable to incur more scratches than other models, hence the need for insurance. The all-electric Ford Ranger is based on the popular conventional Ford Ranger and is made unique by its electric powertrain, which is powered by a lead-acid battery and possesses a horsepower of 90 or more. The Ford Ranger EV is built for speed while maintaining elegance. Many insurers offer the standard coverage they provide for conventional diesel vehicles, but Allstate insurance takes it a notch up by offering optional additional services for charging stations.

Basic Insurance Premium: $1,884

Monthly Financing: $157

Tesla CyberTruck

https://www.tesla.com/en_gb/cybertruck

Continuing with Tesla’s long history of producing aesthetically pleasing cars, the Cybertruck looks cool and embodies a sci-fi fantasy brought to life. Built with an exterior that Tesla owner Elon Musk describes as almost impenetrable, the glasses consist of Tesla armor glass. It also comes with an advanced autopilot system and with an acceleration of 0-60 mph in 4.5 seconds. The Tesla Cybertruck is a sports car in a truck’s body. Retailing at just $39000, the Cybertruck is ridiculously cheap. Luckily Tesla has a business insurance arm that covers its electric trucks and cars. The Tesla insurance Comprehensive coverage for the Cyber truck is expected to cost $400 a month or $4,800 a year, which is slightly on the high side, but we believe it’s worth the hype.

Basic Insurance Premium: $4,800

Monthly Financing: $400

Atlist XT

https://www.startengine.com/atlis-motor-vehicles

While not being popular, the Artist XT pickup truck comes in with a retail price of $45,000 and possesses a 4-wheel drive with independent traction motors powering each wheel. It has a swift charging curve (reputed to go to full charge in less than 20 minutes) and with speeds reaching 120 mph and with an extra-large trunk that does beat out that of the Cybertruck by inches, the XT architecture allows adaptation to many conditions. A cool feature of the XT is the replacement of conventional side mirrors with HD cameras that feed into a central screen.

Basic Insurance Premium: $3000(rumored)

Monthly Financing: $290

The Ford F-150

The Ford all-electric F-150 reputed to be the fastest F-150 yet and with a dubious claim of towing up to 1 million pounds of train cars. With accelerations reaching 0-60 mph in 5 seconds. The Ford F-150 is undoubtedly a truck to watch out for. As with other Ford trucks and pickups, the F-150 has the advantage of ruggedness and cost-effectiveness. Designed with a battery that can be instantly converted into an inverter, this is a truck for the future.

Basic Insurance Premium: $1,884

Monthly Financing: $157

Tesla Semi Truck

https://www.tesla.com/semi

This truck is a battery-powered all-electric marvel, with a full charge 500mile range. There are two versions of the tesla semi with base prices, starting from $150k to $180k. The Tesla Semi can accelerate from 0-60 mph in just 20 seconds, placing it at the forefront of the electric truck-super car race. Elon Musk reveals that it will consist of Tesla Autopilot, which provides semi-autonomous control on highways. Four model-3 powers it derived electric motors. Additionally, it comes with a famously uncluttered interior and with the seat placed in the middle.

Basic Insurance Premium: $6,860

Monthly Financing: $560

Daimler eCascadia

https://www.trucks.com/2018/06/06/daimler-unveils-electric-freightliner-cascadia/

Based on the successful Cascadia truck, which has been reputed to be the most successful heavy-duty long haul truck in the whole of northern America, the eCascadia is set to take the world by storm. It offers a battery that reaches 550 kWh and can support a range of up to 250 miles, built for local distribution and deliveries. It provides the advantage of large quantity transportation with no negative impact on the environment. The insurance might be a little on the high side, but we believe it is worth the hype.

Basic Insurance Premium: $2,356

Monthly Financing: $ 205

BYD 8TT

https://insideevs.com/news/379356/byd-8tt-electric-semi-hauls-cargo/

Not as popular as its American cousins, the BYD Corporation is the world’s largest electric vehicle maker in terms of volume of vehicles sold. The new all-electric BYD comes with a top speed of 65 mph and a 435 kWh battery capacity. It also takes 3 hours on AC to charge, which is significantly longer than others’ charge time. The BYD is based in Shenzhen, China, which might prove a minor setback to it, but it has also been extending into the North American market.

Basic Insurance Premium: $2300

Monthly Financing: $207

Rivian R1T Truck

https://www.cnet.com/roadshow/news/rivian-r1t-electric-pickup-truck/

A bit larger than the Ford F150, the Rivian R1T is a midsize truck that comes with three battery options (105-,135-,180-kWh versions,) offering a range of 230-400 miles. It comprises of regenerative braking, five different ride heights, and tires that significantly reduce the stress in driving through uphill and rough areas. The base price for the latest model is $69,000. Also worthy of mention is that the R1T has the capacity to fit five regular-sized passengers, and tests revealed that it has a top speed of 125 mph. Features an acceleration that can go from 0-60 mph in just 5 seconds. It also has an aesthetically pleasing interior with smart stitching and natural wood trim.

Basic Insurance Premium: $3,533

Monthly Financing: $334

Volvo VNR Electric

https://www.trucks.com/2019/09/13/volvo-unveils-vnr-electric-truck/

Patterned after the conventional Volvo VNR trucks, the VNR electric truck shares much of its frame, cab, and running gear with regular VNR trucks. It features a side by side dual-motor powertrain, which is responsible for feeding into its two-speed automated transmission. Its motors possess a spin of up to 10,000 rpm, which is way higher than regular VNR tucks (2,000 rpm). When put in a regenerative braking mode, the motors possess up to 259kW of power. This truck comes with a rear air suspension, air brakes, and an electric air suppressor. Volvo overdid Tesla by far when it comes to battery capacity as it possesses up to 100 kWh of battery capacity where the Tesla Model S has a 100 kWh capacity. Most insurers offer coverage for regular Volvo trucks, and this won’t be an exception.

After asking for quotes, we will provide you with the average prices for insurance of the all-electric VNR.

Basic Insurance Premium: $2,724

Monthly Financing: $227

Frequently Asked Question (FAQ):

How do I know the best insurance for my truck?

Buying insurance IS USUALLY a straightforward thing. You can request quotes online via their company websites or contact a local agent to make inquiries.

Can I buy insurance for a truck in preorder?

No, you have to wait until after purchasing to buy insurance cover for it, or you can buy it on the spot while purchasing.

Do these cover charging installations for the truck?

Some Companies like Tesla and Allstate insurance offer this service (especially Tesla and Allstate Insurance). Alternatively, you could ask your local insurance agent if they do.

RESOURCES

  1. https://www.greenbiz.com/article/8-electric-truck-and-van-companies-watch-2020
  2. https://hiconsumption.com/best-electric-pickup-trucks/
  3. https://www.insure.com/press-room/most-least-expensive-pickup-trucks-to-insure-2020
  4. https://www.finder.com/car-insurance/tesla-cybertruck-insurance-rates
  5. https://www.finder.com/car-insurance/

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