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Buying an electric car? You may save on fuel, but will you save on auto insurance?

Tesla recently revealed its Model 3, an affordable luxury electric car meant for the masses. Car enthusiasts waited for hours last week outside the Eden Prairie Tesla dealership for a chance to own the highly anticipated Model 3. Potential buyers could put $1,000 down for a coveted spot on the waiting list for a car that isn't expected to begin production until late 2017. For many, the Model 3 provides a rare chance to drive a Tesla, known as the premium electric car brand. With a starting price of $35,000 before government incentives, the Tesla Model 3 is less than half the cost of previous models.

When you're thinking about buying an electric vehicle, there are a lot of things to consider, from charging locations to the financial ramifications live saving on fuel. But what about car insurance? Is buying insurance for an electric vehicle different from insuring other cars?

The good news: auto insurance for an electric car works just like insurance for a car that runs on gasoline or diesel. However, there are additional coverages you may also want to consider, like installing vehicle charging stations and how that may affect your homeowners insurance.

Give us a call before you sign on the dotted line. At Lakeside Insurance Brokers, our independent agents can help you understand the types of coverages available and provide additional information to help you choose the best insurance for your situation.

And if you end up buying a Tesla Model 3, can we get a ride?