Electric Auto Insurance Review for 2023

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Chris Tepedino

Insurance Feature Writer

Chris Tepedino is a feature writer that has written extensively about auto insurance for numerous websites. He has a college degree in communication from the University of Tennessee and has experience reporting, researching investigative pieces, and crafting detailed, data-driven features. His works have been featured on CB Blog Nation, Flow Words, Healing Law, WIBW Kansas, and Cinncinati.com. ...

Insurance Feature Writer

Rachael Brennan

Licensed Insurance Agent

Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

Licensed Insurance Agent

UPDATED: Jun 20, 2022

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Back in the 1960’s, General Electric (GE) found itself in need of providing its employees with affordable and reliable insurance products. Instead of going through a different corporation, they pooled their resources and provided it in-house. And this endeavor has proven very successful over the past 50 years. Today, they offer insurance to everyone (not just their employees) in all 50 states. Besides automotive insurance, they also offer home insurance, renter’s insurance, umbrella insurance, and more.

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:

Electric Auto Insurance QuotesLegend: Electric Young Driver < 25Single Adult, RenterMarried Couple, Homeowners 153045607590105120135150165$170$78$73

Young Driver < 25
Single Adult, Renter
Married Couple, Homeowners





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 Headquarters
75 Sam Fonzo Drive
Beverly, MA 01915

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