Wondering how much it costs to insure an electric vehicle? You can generally expect higher costs compared to a gas-powered car, due to higher value and increased repair costs. This is a greater risk for your insurance company, which leads to a green premium for early adopters. Don’t worry, though. The money you save on fuel and maintenance can help offset these costs.
While it may be true that the more expensive EVs may have higher insurance costs, this isn’t the case with lower and moderately priced EVs. In fact, it’s not uncommon for EV drivers with excellent driving records to gravitate towards the more affordable models, where they can enjoy lower insurance premiums (in addition to the usual perks of electric vehicles).
