GoCompare car insurance data shows Electric Vehicles are now cheaper to insure than petrol or diesel cars.
The average cost of insuring an electric car in July 2021 was £484, compared with £489 for a petrol vehicle and £534 for a diesel car.
The average cost of insuring electric vehicles has also seen a steady decrease since 2019 – with a £65 drop in average costs from the first six months of 2020 of £515.83, to the same time in 2021 which saw an average cost of £450.83.
|Ryan Fulthorpe, of GoCompare car insurance, said, “As the popularity of the EV increases, it’s great to see the insurance costs coming down alongside this. Insurance companies are now getting used to evaluating the risks associated with these cars and so we have seen a slow but steady decline in premiums for EVs over the past two and a half years.|
“In July 2021, it was cheaper to insure an EV than a petrol or diesel car, which shows that it is now seriously worth motorists considering the overall costs of driving an EV when it comes to buying a new car. As the infrastructure to support EVs grows and the prevalence of charging points and the general motoring network increases around it, we will see more EVs on the road and so it will be interesting to see how insurers react to that change with their offerings and pricing.”
|When it comes to the most popular manufacturers of EVs, the Tesla is still topping the charts. The top five makes and models of EVs being insured by GoCompare customers are:|