Electric Car Insurance Costs
How much does it cost to insure an electric car?
An important consideration when purchasing any new vehicle is insurance. After the introduction of electric cars, insurance costs were at a premium due to several factors. Electric cars were relatively niche in the automotive industry, so skilled repair specialists were not entirely common, and the cost and availability of spare parts were almost exclusive, which increased the cost of insuring an EV. However, as the EV market expanded, the cost of insuring an electric vehicle began to decrease. Insurance prices continued to drop with the government's impending ban on petrol and diesel vehicles by 2030. Manufacturers have since increased production of electric vehicles to provide consumers with more choice, further reducing electric car insurance costs. EV insurance prices typically remain higher than conventional vehicles but have dropped considerably since their introduction and appear to be continuing down this pathway. Another extremely important consideration when purchasing an EV is that you won’t have to pay road tax on EVs that cost less than £40,000.
Some of the cheapest electric cars to insure, such as the Nissan Leaf, Smart EQ ForFour, and the Renault Zoe, amongst many more, can be found at Peter Vardy.