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Electra Meccanica Solo Insurance Cost


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Electra Meccanica Solo Insurance Cost

The Electra Meccanica Solo is a three-wheeled, all-electric commuter vehicle meant to decrease the environmental effect of congested regions. Insurance prices for new vehicle types may be difficult to forecast, and the Solo presents a unique problem because jurisdictions such as California categorize the vehicle like a motorbike, but Florida permits manufacturers to label it a car.

Small automobiles, such as the Smart car, have an annual insurance cost of approximately $600, while three-wheeled bikes have an annual cost of just under $900. However, because the Solo is electric, smaller than the Smart car, and from a completely new company, annual charges might vary from $650 to $1,000. With a starting price of $18,500, you may expect an annual insurance cost-to-base-price ratio of 3.5 to 5%, making the Solo reasonably inexpensive to insure.

How do I compare insurance for Solo?

Electra Meccanica Solo Insurance Cost - Meccanica Logo

The insurance you obtain for your Electra Meccanica Solo may be affected by whether your Solo is categorized as a vehicle or a motorcycle in your state. Regardless, the following factors are likely to influence your insurance rates:

  • Body type. The Solo provides a new body type that does not have an equivalent model on the market. Smaller cars, on the other hand, often have lower insurance costs.
  • Fuel. This electric vehicle was meant to be a commuter automobile, with a range of just 100 miles between charges. It has a 220V battery, which implies a cheaper annual fuel expense but somewhat higher insurance rates due to the electric engine.
  • Theft rates. There is no published theft data at this time, and the firm makes no mention of anti theft measures in the Solo’s technical specifications. This isn’t to say there won’t be any when it comes out, but if you want to get an anti-theft discount, inquire what’s available before you buy.
  • Maintenance. The Solo, according to the firm, has 99 percent less components than a combustion engine, which may make maintenance easier. However, electric vehicles frequently include technical components that need the services of a professional.
  • Coverage. The Solo claims to satisfy worldwide safety requirements and has voluntarily submitted the vehicle to crash testing, although it has not been subjected to the rigorous testing required of other passenger vehicles, and no airbags are included in the specifications. As a result, you should consider purchasing additional medical coverage as well as roadside help in case you run out of charge and are unable to return home.
  • Insurer options. With no comparable model on the market, it’s difficult to predict what restrictions you’ll face in your quest for insurance, but insurers that cover electric vehicles and bikes are likely to provide a policy for the Solo.
  • Warranty. The Solo has a two-year overall guarantee and a separate five-year battery pack warranty.

Does the Electra Meccanica Solo qualify for discounts?

Because the Solo is still in the reservation stage, it’s difficult to determine which features will be present on the fully launched version, but you may be eligible for a discount for driving an electric vehicle. Discounts are also available depending on whether the Solo is categorized as an enclosed motorbike or a vehicle in your state.

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How reliable is the Electra Meccanica Solo?

Although a car fresh to the market may appear to be a danger, Solo has been testing prototype vehicles since 2018.

  • Safety. The Solo has earned a US Federal Motor Vehicle Safety Standard certification from the National Highway Traffic Safety Administration and is currently undergoing testing to demonstrate conformity with worldwide safety standards. However, the car’s present lack of airbags prevents it from satisfying Canadian national safety regulations. The manufacturer is now attempting to get an exemption.
  • Reliability. This model’s reliability data is not yet available. However, original model test drivers have complained about a lack of power steering and power brakes, which might leave them vulnerable on the road.
  • Recalls. The single recall on record was for an incorrect compliance label, which was rectified in 2018.

Bottom line

The Electra Meccanica Solo can save you money on insurance premiums, but how much is simply a guess for the time being. While there aren’t many models to compare this three-wheel commuter against, it’s always worth it to search around for the lowest deal on the coverage you require.

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