Electric vehicle snapshot
Every quarter, Compare the Market compiles its Electric Vehicle Snapshot, which uses interactive tools to look at the UK's most popular electric vehicles, as well as the cost of insurance, depending on your age and where you live. Find out more in this quarter’s report.
Every quarter, Compare the Market compiles its Electric Vehicle Snapshot, which uses interactive tools to look at the UK's most popular electric vehicles, as well as the cost of insurance, depending on your age and where you live. Find out more in this quarter’s report.
Julie Daniels
Motor insurance expert
“While the cost of car insurance for electric vehicles can be broadly the same as a regular car at an average of £732, premiums appear to be increasing this year with a rise of £26 over the past three months. Beyond the environmental benefits, the economics of an electric car clearly show that there are significant savings to be made, given the limited investment that is required to fuel the car.
“However, the market for electric cars is still relatively small which indicates that issues remain which are holding people back from making the switch to a greener option. Given how comparatively new electric vehicles are, there remains to be less choice and they can often be more expensive. In addition, ‘range anxiety’ still weighs on many people. As the technology improves and cars become cheaper, we will almost certainly see greater adoption across the UK. Potential customers can be reassured that the insurance costs won’t break the bank but it remains the case that switching can significantly improve the cost of cover. The cheapest policies can be £125 less than the average demonstrating the value of shopping around for the best deal.”
