Electric vehicle owners are paying an average of 22% more for auto insurance compared to similar gas-powered models, and the gap is widening in 2026.
Why EVs Cost More to Insure
The primary driver is repair costs. EV battery packs can cost $15,000-25,000 to replace, and even minor fender benders can damage expensive sensors and cameras used in advanced driver assistance systems.
Additionally, fewer mechanics are certified to work on EVs, leading to longer repair times and higher labor costs.
Most and Least Expensive EVs to Insure
- Most expensive: Tesla Model S Plaid ($3,800/year average)
- Most expensive: BMW iX M60 ($3,600/year average)
- Least expensive: Chevrolet Equinox EV ($1,900/year average)
- Least expensive: Nissan Leaf ($1,750/year average)
How to Save on EV Insurance
Tesla offers its own insurance in 12 states with rates 20-30% lower than competitors. Bundling home and auto, increasing deductibles, and using telematics programs can also significantly reduce EV insurance costs.
