It’s no surprise that small cars are among the cheapest to insure, with the Fiat 500 Electric La Prima topping the table with an average annual premium of just £518.
The Fiat 500 has been a consistent popular choice for city drivers for its affordability, compact size and decent reliability, and the electric range is no exception.
Coming a close second for cheap EV car insurance is the Nissan Leaf Tekna. The Nissan Leaf has kept a consistent spot in our top 10 cheapest to insure lists thanks to its affordability and reliability, and in 2024 it was the Tekna model that earned it's place among the cheapest to insure.
Make and model | Average annual premium |
|---|---|
1. | £518 |
2. | £522 |
3. | £528 |
4. | £533 |
5. | £535 |
6. | £548 |
7. | £553 |
8. | £557 |
9. | £558 |
10. | £565 |
Generally, insurance is more expensive for an electric car than for a petrol or diesel because insurers don’t have as much data on repair, replacement, and write-off costs for EVs as they do for petrol and diesel cars.
A 2023 study by Thatcham Research, the motor insurers’ automotive research centre, found that EV claims are about 25% more expensive than their petrol and diesel equivalent and repair times are about 14% longer. However, as the number of EVs increases and drivers keep them for longer, this is improving.
Total losses or write-offs are one of the most considerable elements of spend during post-accident electric vehicle claims, which results in higher insurance premiums.
At the end of 2024, the average monthly premium price of an electric car was £66.04 and the average annual price was £725.78.
Naturally, the most expensive electric cars to insure are the premium models which fall into higher car insurance groups.
The number one most expensive electric car to insure is Porsche Taycan. The Taycan has snagged a place in the top 10 most expensive to insure for some time and this time it's taken the top two spots. This is partly due to the vehicle's high value and its insurance group, Group 50, which is the highest group there is.
So, if you fancy taking a Porsche Taycan for a spin, you might be paying between £1,370 and £1,568 a year to insure it.
Make and model | Average annual premium |
|---|---|
1. | £1,568 |
2. | £1,370 |
3. | £1,308 |
4. | £1,260 |
5. | £1,246 |
6. | £1,238 |
7. | £1,174 |
8. | £1,55 |
9. | £1,143 |
10. | £1,131 |
It's important to remember that insurance is just one element of the total cost of owning an electric car. You also need to consider the cost of electric car charging and having a wallbox fitted at home, and the cost of using public electric car chargers, as well as service, maintenance and repair costs, and breakdown cover.
You can compare electric car insurance quotes to check the specific model you’re considering buying or leasing.
When comparing electric car insurance quotes, be aware that not all providers offer the same cover. Some providers may offer add-on coverage for your battery, charging cable, home charger, and adaptors.
Certain policies may also include public liability cover in case someone trips over your charging cable and gets hurt.
Aside from comparing quotes and looking at average prices, it’s worth checking what insurance group your electric car is in.
Generally, the lower the group, the cheaper your premium will be. You can do this using our car insurance group checker tool.
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*Consumer intelligence data collected between 01/01/2024 and 31/12/24 from car insurance policies taken out via the MoneySuperMarket site with a minimum of 100 sales per vehicle
**Based on 1 visit per month - average ticket value £15.07 (March 24)
