How Much More Do Electric Vehicle Owners Pay For Insurance?

More than a dozen factors affect the rates of your auto insurance policies, and the type of car you drive is one of the most impactful factors.

How Much More Does Electric Car Insurance Cost? 

Ever since the rise in popularity of electric cars, the rates of car insurance policies for almost all-electric car models have increased. This price difference can range anywhere from 15% to a whopping 50%. 

Premium Electric Cars

Premium electric cars that cost more will require you to spend more on auto insurance policies. The premium electric car range is dominated mainly by three or four brands. Tesla, BMW, Audi, and Porsche are the most prominent players in the premium electric car segment.  

Why Does Electric Car Insurance Cost More? 

When it comes to the make and model of the car, they have to consider the costs of repairs, spare parts, the risk of a car getting damaged, how easy it is for some parts of the vehicle to get damaged, how likely it is to get stolen, and a lot of other factors.  

Here are some of the reasons why auto insurers charge more to insure electric cars. 

Easily Totaled 

Gas cars are made up of hundreds of small parts. Multiple parts can be salvaged or repaired from the piston to the combustion pipe in case the car gets into an accident. But electric cars are usually one giant hunk. So the chances of an electric car getting totaled are much higher than a gas car. 


While the affordability of electric cars is increasing, being the cutting edge of fairly new technology, buying a gas car is still more affordable than an electric one. This price difference is also a significant factor in the increased insurance rates of electric vehicles.  

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