• Expect to pay more to insure your EV

  • Nov 3 2024
  • Length: 1 min
  • Podcast

Expect to pay more to insure your EV

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  • Summary

  • A recent study by Compare the Market of 12 insurers have found the top five
    best-selling electric vehicles are 43 per cent more expensive to insure over
    similar sized combustion engine models. The comparison site found that many
    EV motorists were paying higher premiums which obviously offset their benefits
    of lower running costs. Hybrid vehicles have also been found to carry a premium
    compared to their petrol-only equivalents. Taking the top five best-selling EV’s
    and 12 car insurance providers you could be paying between $98 and $1,788
    more to insure your electric car. Electric vehicles are generally more expensive to
    insure due to the battery pack which creates more complexity for repairers – in
    some cases the battery pack frame is a structural member of the car making it
    more than likely the insurer will right the car off. I’m David Berthon

    See omnystudio.com/listener for privacy information.
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