Insuring an electric car used to be significantly more expensive than insuring a petrol or diesel vehicle - but times are changing. According to comparethemarket.com, the average annual premium for an electric car in 2021 was only £33 more expensive than the average premium for a conventional combustion engine car1.
All insurance companies offer policies for electric vehicles however as volumes increase prices are becoming more competitive and will probably become even more affordable in the future. As with other types of car, insurance premiums are more expensive for models in higher insurance groups with parts that are expensive to replace or repair.
The usual factors also affect the cost of insuring an EV. Younger drivers and those with a history of making claims are likely to spend more on their premiums, just as they would for a petrol or diesel car.