The most expensive and cheapest electric cars to insure in 2026

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More drivers are turning to electric vehicles as a green alternative to the gas-powered car. In 2024, global electric-car sales topped 17 million units, surpassing a 20% share of all new cars sold worldwide. 

Many drivers turn to electric vehicles for long-term savings, especially at the pump. Before factoring in fuel costs, it’s important to understand the insurance side of EV ownership.

Electric cars like Teslas and Nissan Leafs typically cost more to insure, averaging $3,174 per year, compared to $2,663 for all vehicles nationwide.

Fuel savings may help balance out that difference over time, but insurance is an ongoing expense. Knowing the true cost of coverage upfront helps set realistic expectations before driving an EV off the lot.

The most expensive and cheapest electric cars to insure

To compare insurance costs across electric vehicle models, we reviewed 2024 model-year rates from a dozen manufacturers using data for a 40-year-old driver in all states. These averages show which EVs cost the least — and the most — to insure.

Most expensive electric cars to insure by model

Certain models consistently stand out for having some of the highest insurance costs. These vehicles tend to combine advanced technology, complex construction, and expensive materials — all factors that drive up repair bills and, in turn, premiums. Here’s a closer look at the EVs that are typically the most expensive to insure and why they rank at the top of the list.

Here’s more about these cars.

Mercedes-AMG EQS

The Mercedes-AMG EQS is one of the costliest electric vehicles to insure, largely due to its complex electronics and high-end components. Its full-width MBUX Hyperscreen and integrated OLED displays increase repair difficulty, which drives premiums higher.

Audi e-tron GT

The Audi e-tron GT typically carries higher insurance costs because of its tightly integrated electrical systems and specialized parts. Built on the same platform as the Porsche Taycan, the car’s dual-motor setup and 800-volt architecture make repairs more involved and expensive than average.

BMW i7

The BMW i7 often ranks among the priciest EVs to insure. Its advanced technology, electric powertrain, and luxury materials contribute to higher repair costs. Even minor damage can require specialized parts or labor, which raises premiums.

Tesla Model S

The Tesla Model S is consistently one of the more expensive EVs to insure. Tesla’s unibody construction means the body and frame are a single structure, so damage to one area often requires replacing larger sections. Limited repair networks and proprietary parts also affect insurance pricing.

Porsche Taycan

The Porsche Taycan carries high insurance costs due to its performance-focused engineering and premium build quality. Repairs can be costly, and many components require specialized tools or technicians. Multiple variants — including the Turbo, Turbo S and 4S — share these higher repair-related expenses.

Least expensive electric cars to insure by model

Some electric vehicles come with lower insurance premiums thanks to simpler construction, modest repair costs, and mainstream parts availability. These models typically use less complex electrical systems and avoid the high-end materials found in luxury EVs. Here’s a look at the EVs that tend to be the most affordable to insure — and the practical reasons why their rates are lower.

Here’s more about these cars.

MINI Cooper Electric

The MINI Cooper Electric is generally cheaper to insure because of its smaller size, straightforward design, and lower-cost components. Compared to luxury EVs with complex electronics, repairs are less expensive, which helps keep premiums down.

Kia Niro EV

The Kia Niro EV tends to have lower insurance costs due to its simpler vehicle architecture and moderate repair pricing. Its parts and labor costs are typically lower than those of high-performance or premium electric models, making it a budget-friendly option to insure.

Hyundai Kona Electric

The Hyundai Kona Electric is a subcompact EV with a relatively simple repair profile. Its smaller footprint and mainstream parts availability contribute to more affordable insurance rates, which appeals to drivers looking for low ongoing ownership costs.

Volkswagen ID.4

The Volkswagen ID.4 often ranks among the more affordable EVs to insure. Its design and components fall into the mainstream cost range, and repairs tend to be less complex than those of higher-end electrics. Range varies by configuration, but repairability is consistent — a key factor behind its lower premiums.

Nissan Leaf

The Nissan Leaf remains one of the most economical EVs to insure thanks to its long production history, broad parts availability, and simpler electric drivetrain. Its average annual insurance cost is lower than many newer or more complex EVs, and in some states, premiums drop even further.

What companies offer electric car insurance?

Shopping around for the best electric vehicle insurance is your best bet to uncover savings. But not all companies provide coverage for electric vehicles. When you’re ready to start comparing EV insurance quotes, use the table below to compare insurers that offer electric vehicle coverage.

Factors that increase the cost of insuring electric vehicles

Electric vehicles often come with higher insurance premiums than gas-powered cars because they’re more expensive to build, repair, and replace. Vehicle value plays a major role in determining premiums, and many EVs start at a higher price point than comparable combustion-engine models.

Beyond the sticker price, EVs use specialized components — including large battery packs, electric motors, advanced sensors, and tightly integrated electronic systems. These parts are costlier to replace and often require specialized labor, which drives repair bills higher. Even minor damage can affect battery housings or electronic modules, increasing claim costs.

When insurers price coverage, they factor in both the likelihood of a claim and what it will cost to repair the vehicle. For EVs, those repair costs are typically higher, which leads to higher premiums.

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Simple ways to cut your EV insurance costs

Electric car insurance can be more expensive, but there are several ways to keep your premiums in check. One of the most effective strategies is simply choosing a model that costs less to insure. As the data shows, a mainstream EV like the MINI Cooper Electric can cost thousands less per year to insure than a high-end model like the Mercedes-AMG EQS. Beyond choosing the right vehicle, here are additional ways to lower your EV insurance costs:

• Bundle policies. Insuring multiple vehicles or combining your auto and home policies can earn you a multi-policy discount.
• Raise your deductible. Increasing a $250 or $500 deductible can reduce your monthly premium. Just make sure the deductible is still an amount you can reasonably pay out of pocket if you need to file a claim.
• Review your coverage annually. Insurance rates change frequently. Comparing quotes once a year can reveal meaningful savings, whether that means switching carriers or renegotiating with your current insurer.
• Ask about EV-friendly discounts. Some insurers offer discounts for electric or alternative-energy vehicles. Companies like Farmers and Travelers have offered these programs in the past, so it’s worth asking your agent whether you qualify.
• Take advantage of tax credits. Federal tax credits for new battery-electric and plug-in hybrid EVs can range from $2,500 to $7,500, depending on the vehicle. Many states also offer additional incentives that can reduce the overall cost of EV ownership.

How to get electric car insurance

Shopping for electric car insurance works much like insuring any other vehicle. Here’s a simple way to move through the process:

• Start by identifying insurers that offer competitive rates for electric vehicles.
• Get quotes online to compare prices and coverage options.
• Look into customer satisfaction scores and reviews to see how each company handles claims.
• Choose the carrier that offers the right balance of cost, coverage, and service.
• Provide your personal details and the vehicle information (including the VIN) to finalize your policy.
• Pay for the policy and download or wait for your insurance ID cards.

If you own a home and plan to install a Level 2 charger, check with your home insurance company to make sure the installation is covered and meets their safety requirements.

Is an electric vehicle worth the expense?

Electric cars are more expensive than the standard model. Many argue that the fuel savings aren’t worth it and you’ll be limited to a smaller driving range. It all depends on how much you drive and whether you’re sustainably minded. For some, the investment in EV is their way to reward innovation and cleaner technology.

For others who commute long distances, an EV is a no-brainer. The fuel savings are significant and the availability of charging stations is improving. There is no clear-cut answer to whether an electric vehicle is worth the added expense. It’s best to run the numbers (without forgetting to factor in EV insurance cost) and decide if going all-electric is worth it.

Nupur Gambhir

Managing Editor

 

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Nupur Gambhir is an insurance expert and managing editor of Insure.com. She specializes in life and health insurance content, and has experience as a marketing consultant.