Expect to pay more to insure your EV
Description
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
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United States
