Our latest piece of research has revealed that the VW e-Up! is the cheapest electric vehicle to insure in the UK.
The research conducted by our team was compiled to create an ‘EV Chooser Tool’ to help car buyers find their ideal EV and highlight the cheapest electric vehicles to insure.
While the VW e-Up! topped the list of cheapest EVs to insure, it was closely followed by the SEAT Mii electric and the Vauxhall Corsa-E.
Tesla models featured prominently at the more costly end of the spectrum, with the Model X found to be the most expensive EV to insure, ahead of the Model S.
Our new research also revealed that premiums for young drivers were particularly expensive, meaning that, despite embracing green technology, they could be priced out of environmentally friendly options.
When comparing 16 popular EVs currently available with an equivalent petrol or hybrid variant, our data showed insurance premiums for a 22-year-old were 20% higher for EVs compared to just 10% for a 35-year-old.
Jessica Potts, Head of Marketing at BookMyGarage.com commented: “With demand for EVs soaring, it’s clear that as a nation we are prepared to make the switch to more sustainable vehicles.”
Electric vehicles reached record sales figures in the UK in January according to the SMMT, with Battery Electric Vehicles (BEVs) seizing 6.9% of the market share, compared to just 2.7% during the same period in 2020.
“The transition will take time, though. The fact is electric vehicles remain the pricier option, and for the younger generation in the market for an EV, substantial insurance premiums on top of a high purchase price are often more than enough to put them off,” Potts added.
Last month, the government announced it was cutting the plug-in grant from £3,000 to £2,500, and capping eligible vehicles at £35,000, a decision which was criticised by the SMMT.
While the cut to the EV grant is a blow, our new tool can at least help buyers choose an affordable electric car.
We also now offer customers the ability to book MOTs for their electric vehicles through the standard BookMyGarage.com interface, helping to further cut the cost of ownership.
We have helped more than four million motorists compare instant prices to book MOT, service and repair procedures through our network of over 9,000 franchise and independent UK garages.