Insurance is one of the most expensive elements of owning a car and new figures have shown that electric models continue to be more expensive on average than petrol or diesel cars.
New data from Admiral Insurance shows that, across the UK, the average car insurance premium was £807.92 in March 2023 but for electric cars it was £963.57. This is partly because EVs are generally newer and more expensive than other models and partly because they can cost more to repair due to the need for specialist technicians.
However, the figures also show that there is plenty of variety in the EV market, with many models costing far less than the national average to cover. Here, according to Admiral’s Insurance Price Index are the 10 cheapest EVs to insure in 2023.
However, the figures also show that there is plenty of variety in the EV market, with many models costing far less than the national average to cover. Here, according to Admiral’s Insurance Price Index are the 10 cheapest EVs to insure in 2023.
5. MG4 - £590
The MG 4 builds on the impressive starting point of the ZS and moves the game on substantially. A hatchback rival to the ID.3, it costs £8,000 less but offers similar performance, specification and range. Impressive in its own right, the low purchase price and insurance costs simply make it more attractive.
6. Nissan Leaf - £643
The Leaf was the first truly mainstream electric car and since 2011 has attracted many drivers to electric motoring. A sensible family hatchback with a decent range, relatively low starting price and running costs, it was an easy way for families to switch to an EV, although the last couple of years have seen it surpassed by the likes of the ID.3 and MG4.
7. Kia Niro - £661
The Niro is another great option for families looking to go electric, especially when you consider its low insurance costs. It has recently been relaunched with a bold new look and slightly improved battery but both generations of this crossover offer plenty of space, high levels of equipment and more than 270 miles of range on a single charge.
8. BMW i3 - £670
BMW’s futuristic electric car isn’t quite as practical as some of the others on this list and its 193 range is relatively short by today’s standards but its mix of eye-catching design and interesting materials make it an attractive choice for buyers looking for something from the left field.
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