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It’s no secret that electric vehicles cost a bit more to insure. It’s important to keep in mind despite this, you will save money regularly on oil changes, gas, and maintenance that regular cars require but electric don’t. That being said, there are certain things you can do to offset the higher premiums of these environmentally friendly travel vessels. There are now many rebates at local and federal levels to incentivize the purchase of an electric or hybrid vehicle. The IRS now offers a $7,500 tax incentive for new electric vehicle purchases for personal or business use. Let’s take a look at the requirements.