Three Ways to Use Auto Insurance to Control Inflation Costs

/Icon%20of%20the%202022%20Gold%20Stevie%20Award%20for%20Customer%20Service

Customer Service

/Icon%20of%20the%202021%20Gold%20Stevie%20Award%20for%20Customer%20Service

Customer Service

Choose Coverage

 

Inflation is the highest it has been in 40 years. The cost of a used car jumped 37% in 2021.

New vehicles? If you can even get one, paying the MSRP (Manufacturers Suggested Retail Price) may actually be your best bet.

You’d be in a tough place if you had to have major repairs to your vehicle or needed a new one anytime in the foreseeable future.

This is how we can help

Our auto policies not only lock in your rate for 12 months, they can also protect you from inflationary costs.

Three more ways to save5

  • Up to 15% new customer “Plan Ahead” auto discount
  • Drivers can save up to 15% by passing a simple, online driver training course.6 
  • Multi-policy discounts of up to 10% off your auto insurance rate and up to 25% off your current home rate

Contact us

Our Risk Coaches™ are licensed insurance professionals can help you get the money-saving auto coverage you need. Call us at 800.539.8658 Monday through Friday, from 8:00 a.m. to 8:00 p.m. ET.

 

Disclosures

Accident Forgiveness Provisions

Ouch! Your auto insurance rates can go up by more than 50% after an accident – and you’ll still have to pay your deductible! Keep that money, and up to $500 of your deductible, in your wallet with a policy that includes our Accident Forgiveness provision.1 Learn more.

New vehicles covered for their replacement cost

If your new or newer vehicle is totaled, or stolen and not recovered, this coverage pays to replace it with a vehicle of the same model and features – and we don’t apply depreciation that lowers your payment. Learn more.1

Bundle Plus Advantage - More Than Just Discounts

When you add both auto and home (or condo or renters) insurance to your current Electric Insurance account, we’ll apply three savings features: an auto policy discount, a home policy discount, and a waiver of your auto deductible if both your vehicle and home are damaged/destroyed by the same cause of loss (e.g., fire, tornado, hailstorm). Learn more.

This easy, online course could save you hundreds

Take advantage of a simple, online driver training course through our partner Improv Traffic School and get premium credits that last up to three years.5 Any driver on your policy who meets the age requirements can participate and save.5

  • Reduced cost for Electric Insurance Customers – fees range from $12.50 to $21.50 based on your state.

  • 100% pass guarantee

  • Improv notifies us when you pass the exam – no action needed on your part.

  • 4% - 15% premium credit/discount – applied retroactively to the day you pass your exam.2

  • The credit/discounts last for three years in most participating states.

 

Credit availability & participant eligibility2

We’re able to offer this program in 20 states and the District of Columbia; age requirements and the amount and duration of the premium credit varies according to state requirements.

Get Started

If you’d like to explore the course, visit Improv’s Defensive Driving and Insurance Reduction Course. If you have questions about the course’s availability in your state or any specific requirements, please contact one of our Risk Coaches™. They’re glad to help you see if you can benefit from the course. Call us at 800.227.2757, Monday through Friday, from 8:00 a.m. to 7:00 p.m. ET.

Disclosures

This page offers a brief description of insurance coverage and/or related services offered by Electric Insurance Company and is provided for informational purposes only. For exact coverage provisions, availability, terms, limitations, and exclusions, please contact Electric Insurance Company at 800.342.5342. In the event there are discrepancies between this information and the policy, the terms of the policy apply.

1. Average countrywide car insurance savings as reported by Electric Insurance Company customers through July 31, 2023. Potential savings vary.

2. Applies to accident losses related to Collision, Comprehensive/Other Than Collision, and Uninsured Motorists Property Damage coverages only; waives up to $500 of the related deductible per policy period; waives one eligible accident in a policy period; any one eligible accident in a policy period will not affect the policy’s rates at renewal. Once used, eligibility for the surcharge waiver resets in 36 months.

3. Terms and conditions apply; availability varies by state.

4. Applies to incidents that damage both the covered auto and home; terms and conditions apply; subject to eligibility.

5. Product, service, program, credit, and discount availability and limits vary by state. The information provided on this site is provided for informational purposes only and is not a full explanation of products, services, or coverage.

6. The amount of time the discount applies varies by state. The discount applies for three years in AL, CA, CO, DC, FL, GA, KS, MN, NJ, NY, OR, PA, SC, TN, TX, UT, and VA. It applies for two years in CT, DE, NV and WA. Eligibility requirements apply: drivers in AL, CA, CO, DC, FL, ID, MI, NE, NV, OR, PA, TN, UT, VA, and WA must be age 55+; drivers in CT must be age 60+; and drivers in SC must be age 25+; no age restrictions apply in DE, GA, KS, NJ, NY, and TX; all drivers must be assigned as the principal driver of a specified vehicle on the policy.

7. Based on a 2021 Electric Insurance Company customer claims survey, where 99% of respondents stated they would renew their policy.
call-now 800.539.8658