Electric Auto Insurance Review for 2025
Free Auto Insurance Comparison
Enter your ZIP code below to compare auto insurance rates.
Secured with SHA-256 Encryption
Schimri Yoyo
Licensed Agent & Financial Advisor
Schimri Yoyo is a financial advisor with active insurance licenses in seven states and over 20 years of professional experience. During his career, he has held roles at Foresters Financial, Strayer University, Minnesota Life, Securian Financial Services, Delaware Valley Advisors, Bridgemark Wealth Management, and Fidelity. Schimri is an educator eager to assist individuals and families in ach...
Licensed Agent & Financial Advisor
UPDATED: Nov 27, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We partner with top insurance providers. This doesn’t influence our content. Our opinions are our own.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
Electric Insurance Review
Electric insurance has high ratings with both the Better Business Bureau and A.M. Best. The company has maintained these high ratings consistently over the past few years. This means that they are financially stable enough to pay out claims, as well as sound in the customer service department. There were only 28 complaints filed against Electric by customers since 2013, and 4 of them only in the last 12 months.
| Metric | Value |
| AM Best Financial Rating (2016) | A (Excellent) |
| Better Business Bureau Rating (2016) | A+ |
Electric Insurance Discounts
Compared to some companies, Electric offers a good variety of discounts to their auto insurance customers. However, for legal reasons, the company is hesitant to publish the exact savings you can expect online. But some drivers in certain areas may be eligible for:
| Discount | % Savings* |
| New Vehicle Discount | Up to 7% |
| Paid in Full Discount | 5% |
| New Customer Discount | Up to 15% |
| Electric & Hybrid Vehicle Discount | 10% |
(*ElectricInsurance.com 2016)
Additionally, Electric offers the following discounts – at varying rates – for most drivers in the US:
- Employer and affinity group discounts
- General Electric Employee Discounts
- Accident-free discount
- Antilock brake discount
- Anti-theft devices discount
- Driver training credit
- Good student credit
- Low-annual mileage discount
- Multi-policy discount
- Married status discount
- Mature driver accident prevention course discount
- Multi-Policy Discount
- Passive restraint discount
Electric Auto Insurance Options
With an Electric automotive insurance policy, you can legally insure your vehicle with mandatory state minimum coverage, as well as some standard (but optional) forms of coverage:
- Liability (Bodily Injury and Property Damage)
- Uninsured Motorist (Bodily Injury and Property Damage)
- Underinsured Motorist (Bodily Injury and Property Damage)
- Personal Injury Protection
- Medical Payments
- Comprehensive
- Collision
- Rental Reimbursement
- Towing & Labor
- Loan/Lease Gap Coverage
Electric also offers complimentary insurance products to go along with their typical auto policies. These products include Personal Excess Liability (for GE employees only) and Umbrella Insurance. The PEL coverage protects GE employees in the event that a potential lawsuit causes them to pay more than what their insurance can cover in damages. Umbrella insurance provides similar coverage, but it is available for everyone (not just GE employees) and it can cover other property, like homeowner’s insurance.
Comparing Electric Insurance Quotes
Electric so far appears to have decent customer service, strong financials, and offers a good variety of different coverage options for customers to choose from. However, it really all comes down to how affordable they are. Take a look at some average quotes from Electric for popular driver demographics:
Like many companies, they offer some fairly competitive rates for adult drivers over the age of 25. Those rates become even more affordable for married couples who own property and can easily qualify for bundling discounts. For higher-risk drivers, like young drivers with less experience behind the wheel, the rates can get pretty expensive.
Pros and Cons of Electric Insurance
| Pro | Con |
| Insurance policies geared toward drivers of new cars | Less features or coverage options for older vehicles |
| Lots of Discounts available, especially for hybrid/electric models | Some customers found Electric’s billing, collection, and communications practices confusing and difficult to navigate |
For drivers with older vehicles, higher-risk drivers, and motorists who aren’t employees of GE, Electric insurance might not be able to offer them as much as some other major auto insurance providers might. On the other hand, they do have good deals and attractive incentives for drivers with newer vehicles, preferred-risk drivers, and General Electric employees. But the best way to know for sure whether Electric is the insurance company for you is to compare quotes today.
Company Headquarters75 Sam Fonzo Drive
Beverly, MA 01915
www.electricinsurance.com
1-800-342-5342