Motoring News

Electric Evolution: Spike In EV Insurance Enquiries

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Written by Tim Barnes-Clay

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 
London 0.54% 0.86% 60% £875.66 
South East 0.50% 0.72% 45% £509.15 
Scotland 0.39% 0.57% 48% £423.13 
East 0.38% 0.56% 46% £563.36 
South West 0.40% 0.55% 38% £438.40 
East Midlands 0.30% 0.46% 51% £589.13 
North East 0.31% 0.42% 34% £556.02 
North West 0.29% 0.40% 39% £666.13 
West Midlands 0.26% 0.38% 45% £658.08 
Yorkshire & the Humber 0.28% 0.35% 26% £616.06 
Northern Ireland 0.25% 0.34% 38% £490.12 
Wales 0.27% 0.34% 26% £474.87 

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 
Tesla Model-3 £867.95 
Nissan Leaf £421.54 
Renault Zoe £484.09 +1 
Tesla Model-S £1,225.34 -1 
BMW I3 £474.88 
Kia Niro £445.70 +4 
Jaguar I-Pace £745.92 
MG-Motor UK ZS £419.62 
Volkswagen E-Golf £488.20 -3 
10 Porsche Taycan £1,121.12 +7 

Find out more about home electric cars and car insurance here.

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