The proportion of car insurance enquiries for electric vehicles (EVs) increased by more than two-thirds (69%) in 2020.
Data from millions of MoneySuperMarket car insurance enquiries shows that between July and December 2020, around five out of every 1000 enquiries were for EVs (0.54%), up from four (0.37%) between January and June.
In London, approximately nine out of every 1000 (0.86%) enquiries were for EVs, the highest proportion in the country. The capital is followed by the South East (0.72%) and Scotland (0.57%), with Wales and Northern Ireland having the lowest proportion of enquiries for electric vehicles (both 0.34%).
The average premiums for EVs in London were also over £200 higher than anywhere else in the country, suggesting residents may be opting for higher-end electric cars, which can be more costly to insure.
Proportion Of Enquiries For EV By Region
|Region||Proportion of enquiries for EVs, H1 2020||Proportion of enquiries for EVs, H2 2020||Change||Average Premium in H2 2020|
|Yorkshire & the Humber||0.28%||0.35%||26%||£616.06|
Overall EVs have the lowest average premiums, when compared with petrol and diesel cars. As of the second half of 2020, an EV cost £627.20 on average to insure – nearly £46 cheaper than petrol cars (£673.61) and nearly £60 cheaper than diesel (£682.82).
Comparing the volume of enquiries, the most popular EV is the Tesla Model-3, with an average premium of £867.95. Comparatively, the Nissan Leaf, which was the most popular EV until the start of 2019, has an average premium of £421.54.
Top Ten EVs With The Most Enquiries, Between July and December 2020
|H2 2020 rank by number of enquiries||Car||Average Premium Cost||Change in Rank from H1 2020|
|8||MG-Motor UK ZS||£419.62||0|
Find out more about home electric cars and car insurance here.