New data has revealed which electric cars are cheapest for drivers to insure as more and more motorists decide to give up their petrol and diesel vehicles.
Car insurance prices have fluctuated enormously in recent years as drivers struggle with high costs and huge quotes, often in excess of £1,000.
According to recent data, the average cost of car insurance is £882, while in London it is £1,404. Younger drivers bear the brunt of the costs: for an average 18-year-old, the sum insured for a year is almost £3,000.
However, new research has found that drivers of ten popular electric vehicles could cut their costs by hundreds of pounds a year – potentially as much as £343.
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The Renault Twizy is the cheapest electric vehicle to insure
P.A.
Electric cars are becoming increasingly popular as prices fall, more chargers are installed in public spaces and confidence in the performance of batteries grows.
The Renault Twizy has been named the cheapest electric car to insure, costing just £343. The four-wheeler is available from Auto Trader from just £4,000.
Although the two-door electric vehicle does not look like a conventional car, with its range of around 90 kilometers and a top speed of 80 km/h, it is often used for inner-city traffic.
In second place is the unconventional Reva G-Wiz compact electric car, which costs just over £400 to get started. The cars, made in India, had a range of around 50 miles and remain one of the most famous models in the world.
David Cameron with a Reva G-Wiz EV
P.A.
Other major brands also allow drivers to save on expensive car insurance costs, including the highly rated Smart Fortwo, the popular Citroen Ami and a British classic, the Mini EV.
Clare Egan, head of motor at Admiral Insurance, acknowledged that the vast majority of electric car drivers would face higher running costs with the introduction of electric vehicle road tax next year.
For this reason, she stressed the importance of saving wherever possible, especially on car insurance, which has been one of the biggest cost factors for drivers in recent years.
She added: “We also understand that the cost of insuring an electric car is a big consideration. Our list of the 10 cheapest electric cars to insure is dominated by smaller models and city cars, but remember that your premium is not just about the car, it’s about you too.”
With the Citroen Ami, drivers could save hundreds of pounds on their car insurance
CITROËN
The 10 cheapest electric cars to insure
1. Renault Twizy – £343
2. Reva G-Wiz – £409
3. Smart Fortwo – £448
4. Citroën Ami – £471
5. Skoda Citigo – £498
6. Mini Electric Car – £515
7. Volkswagen Up! – £535
8. Abarth 500E – £556
9. Seat Mii – £561
10. Smart No. 1 – £563
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The Smart #1 electric vehicle is one of the cheapest electric vehicles to insure
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Car insurance policies depend on a variety of factors that can result in different prices depending on the policyholder. Average mileage, the driver’s location, and where they park their car can affect how much a driver pays for their insurance coverage.
Egan continued, saying: “We’re seeing more electric vehicles on our roads and more choice for every budget. We want to help drivers make the switch to electric by providing them with useful information to help them decide which electric vehicle is right for them.”
Compared to the average car insurance for an electric vehicle with Admiral (£879.78), drivers could save hundreds or potentially thousands of pounds.
