Revealed – the most affordable new electric vehicles to insure

Revealed – the most affordable new electric vehicles to insure | Insurance Business America

Motor & Fleet

Revealed – the most affordable new electric vehicles to insure

List hot on the heels of similar ranking for sedans

Motor & Fleet

By
Terry Gangcuangco

Mercury Insurance has released a list of the most affordable new electric vehicles to insure this year, in response to the increasing popularity of EVs, particularly in California.

With several factors influencing the cost of insuring a vehicle – including the frequency of claims for similar models, repair expenses, and safety records – Mercury’s research and development team focused on EVs from the 2024 model year that are currently available in dealerships.

Below is the list of the 10 most affordable new EVs to insure, starting with the least expensive:

Nissan Leaf
Ford F-150 Lightning
Kia Niro
Hyundai IONIQ (all models)
Volvo C40/XC40 Recharge
Chevrolet Equinox EV
Fiat 500e
Subaru Solterra/Toyota BZ4X/Fisker Ocean Sport
Volkswagen ID.4
Genesis G80

Chong Gao, director of product management R&D at Mercury, stated: “One of the most important aspects when researching your ideal EV is to consider the total cost of ownership, in which insurance plays an important part.

“We realize that for many customers this may be their first time considering an EV, and it helps to have as much information as possible.”

Chevrolet Spark
VW Golf
Hyundai Accent
Toyota Prius Prime
Mitsubishi Mirage
Volvo S90
Mazda 3
Nissan Versa
Hyundai Venue
Kia K5

At the time, the product management R&D director said: “Plenty of vehicles are known to have lower repair costs, which means they could also cost less to insure. Mercury has put together this list to help savvy consumers know where the best savings can be found.”

In June, a similar list for trucks and sport utility vehicles was published.

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