Drivers of electric vehicles might have to hand over a bigger wad of dough to buy their cars, but it could be worth it, if they get a good deal on insurance due to their status as EV owners. It could partly be due to the fact that often, EV drivers are more careful and tend to get in less accidents.

USA Today says insurance costs do vary widely depending on driver history, local crime and theft rates, but in general, EV owners should be able to expect a lower insurance premium.

“When you look at electric vehicle owners, you probably have a pretty careful bunch there,” said Jack Nerad, market analyst at Kelley Blue Book. “They’re probably pretty mature, and they’re not the young twentysomething male who gets into the most fights and has the most car accidents.”

Some insurers are even starting to compete to lure EV owners in with special policies, because having those customers will likely prove to be a smart business move.

From USA Today:

The average premium for a 2012 Volt owner who drives 15,000 miles annually is about $1,452 a year for the first five years, according to research site Edmunds.com’s True Cost to Own estimates. That compares with about $2,024 for a cheaper gas-engine 2012 Cadillac CTS, for example.

The extend-range Volt, which can go up to 35 miles on electric alone before a gasoline motor kicks in, starts at $39,995 with shipping; the CTS starts at $36,810.

There are circumstances where owning an electric car might actually prove to be more of an insurance burden, however — some insurers are wary of the fact that if an EV gets in an accident, it’s harder to fix than a normal car, and parts are more expensive.

Owners of costly electric cars save money on insurance [USA Today]

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