Electric vehicles can cost more to insure than comparable gas cars — but shopping around narrows the gap dramatically. Here's what drives EV premiums and how to compare quotes properly.
Four factors explain most of the difference between EV and gas-car premiums — and between one insurer's quote and the next.
EV premiums are often 10–25% higher than an equivalent gas car, mainly because of higher purchase prices and repair costs. But the spread between insurers is even larger, so a driver who compares quotes frequently pays less for an EV than a non-shopper pays for a gas car.
The battery pack is the most expensive component of an EV. Check that your policy covers battery damage from collisions and, ideally, charging-related incidents — and confirm how a leased or separately warranted battery is treated before you sign.
EVs often need manufacturer-certified repair shops, specialized diagnostics and post-accident battery inspections, which raises claim costs. Insurers that run certified EV repair networks typically settle claims faster and price EV policies more competitively.
Get at least three quotes with identical coverage levels and deductibles. Ask specifically about battery cover, charging equipment cover, and any low-mileage or EV-specific discounts. Re-shop your policy every renewal — EV pricing is changing quickly as insurers gather more claims data.
See personalized quotes from insurers who understand electric vehicles. It takes a few minutes and could save hundreds per year.
Information correct as of the latest update. We aim to keep our data accurate and up to date, but specifications, pricing and availability can change. Please verify details with the manufacturer before making a purchase.
Affiliate Disclosure: EcoFriendlyMotors.com may earn a commission if you click links to our partners and make a purchase. This comes at no additional cost to you and helps support our work.