Is the cost of electric car insurance more expensive?

Because they are more sustainable than traditional gasoline-powered vehicles, electric cars are growing in popularity. Many people wonder if electric cars are more costly than gasoline-powered vehicles. We will be discussing the various factors that affect the cost of insuring an electric car and also providing insight into why they might be more expensive.

Factors that influence the cost of insuring an electric car

There are many factors that insurance companies consider when determining the cost to insure a vehicle. These factors include the making and model of the vehicle, safety features, age, driving record/location, and annual mileage. Several other factors are important when it comes to electric cars.

  • Costs for battery replacement: Electric cars are powered by their batteries. These batteries can be very expensive to replace in the case of theft or damage. This factor is taken into account by insurance companies when determining how much insurance costs.
  • Repair costs: The design of electric cars is different than that of traditional vehicles. This means that repairs can be more costly because of specialized parts and labor.
  • Theft risks: Because electric cars are new and highly expensive, they can be a target for thieves. In order to cover theft risks, insurance premiums can be higher.

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Is electric car insurance more expensive?

This is a complex question that depends on several factors, such as the make/model of the electric vehicle. However, electric cars generally aren’t more expensive to insure than gasoline-powered cars. Nerd Wallet has found that an average car insurance policy for an electric vehicle costs only 2% less than one for a gas-powered car. This is due to the fact that electric cars often come with advanced safety features like automatic emergency braking or lane departure warning. These features can help lower the risk of injuries and accidents.

Some states offer tax credits or incentives to electric car owners. This could help lower your insurance costs. California offers a Clean Vehicle Rebate Program. This program provides rebates of up $2,000 on the purchase and lease of new electric vehicles.

Tips to Reduce Electric Car Insurance

  • There are many ways to reduce your insurance costs when you buy an electric car.
  • Compare insurance quotes across multiple companies to determine the best price or coverage.
  • You can enjoy discounts: There are many insurance providers that offer discounts for electric vehicle owners. Low-mileage discounts are also available, as well as green car discounts.
  • Be sure to choose a safe, reliable model.


Electric cars are not necessarily more costly to insure than gas cars. There are many factors that influence the cost of insurance, including the make, model, and safety features of your car and your driving history. These tips will help you reduce the cost to insure your electric car. You’ll also enjoy the environmental benefits of using an eco-friendly vehicle.

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