Is full coverage worth it for a new electric vehicle?
Yes, full coverage is worth it for a new electric vehicle. New EVs lose value fast and face high repair costs. Full coverage protects your investment better than basic liability.
Here's what you need to know:
- EVs depreciate at an average of $7,088 per year for medium sedans, far higher than gas cars at $3,462 (Source: AAA 2025 Your Driving Costs study).
- Repairs for EV batteries and tech parts often top $7,600 for engines alone (Source: Endurance Warranty internal claims data, 2026).
- Theft risk stays high for new EVs. Full coverage pays to replace your car if stolen.
Full Coverage vs. Liability: Key Differences
Full coverage includes liability plus comprehensive and collision. Liability only covers damage you cause to others. For a new EV, liability leaves you paying for your own car's repairs out of pocket.
| Coverage Type | What It Covers | Best For New EVs? |
|---|---|---|
| Liability | Damage to others | No. Leaves your EV unprotected |
| Full Coverage | Your car + others (theft, collision, weather) | Yes. Covers high EV repair costs |
Average annual insurance runs $1,700 nationwide (Source: Synchrony 2026 survey, N=thousands of drivers). In zip 84101, expect similar or slightly higher due to urban risks. "New EVs need full protection because they lose 52% value in five years," says the Sidekick Research Team, based on analysis of 1,800 verified EV records.
Why EVs Make Full Coverage a Smart Choice
New electric vehicles cost more to fix. Batteries demand special care. A typical crash repair hits $4,700 or more for major parts (Source: Endurance Warranty, 2026). Gas cars average lower. Plus, EVs draw thieves for their tech and batteries.
Nationwide, car ownership costs $11,577 per year (Source: AAA 2025 study). Insurance makes up a big chunk at nearly 20% in high-cost states. Skip full coverage, and one accident wipes out your savings.
Sidekick owner data shows drivers with full coverage save stress after claims. They avoid $10,000+ out-of-pocket hits.
When Might It Not Be Worth It?
If your EV pays off and has low value, drop to liability. But for new ones? Stick with full. Most lose over $20,000 in three years.
Action Steps to Decide
- Get quotes for both coverage types in 84101.
- Check your EV's depreciation rate.
- Use Sidekick to track total ownership costs and optimize insurance.
- Review every year as your EV ages.
Full coverage costs extra, about $800-1,200 more yearly. But it beats paying full repair bills on a $40,000+ EV. Protect what you drive.