Electric car insurance costs are higher than for non-electric vehicles. On average, the cost of electric car insurance is $206 per month (or $2,468 per year). That’s $44 more per month than the cost to insure a gas-powered car.
Besides cost, insurance coverage for electric cars is no different than for a gas-powered vehicle. You can get EV insurance from the same companies as the owner of a gas-powered car. We found that MAPFRE is the cheapest company for electric car insurance. Larger companies like USAA and State Farm also have cheap quotes for electric vehicles.
What is the cost of electric car insurance?
The cost of car insurance for electric cars is $206 per month, though the average premium depends on the model. Our quote comparison for the cost of electric car insurance for some of the most popular EVs found that the Nissan Leaf is the cheapest model to insure at $170 per month.
The cost of insurance for electric cars also depends on your company. For example, electric car insurance costs $111 per month with MAPFRE — 46% cheaper than average. On the other hand, with Hanover the cost to insure an EV is 129% more expensive than average.
Since the cost of electric car insurance can depend so heavily on the company, it’s important to compare quotes from multiple companies to be sure you’re getting the best rates for your EV.
Rank | Company | Monthly cost |
|---|---|---|
1 | MAPFRE | $111 |
2 | USAA | $114 |
3 | $122 | |
4 | Auto-Owners Insurance | $125 |
5 | $125 | |
6 | $132 | |
7 | COUNTRY Financial | $144 |
8 | $148 | |
9 | $148 | |
10 | Farm Bureau | $149 |
11 | $159 | |
12 | $166 | |
13 | Average cost | $206 |
14 | Kemper | $209 |
15 | $213 | |
16 | $225 | |
17 | $227 | |
18 | Shelter Insurance | $235 |
19 | CSAA | $248 |
20 | $264 | |
21 | Auto Club Group | $292 |
22 | The Hartford | $296 |
23 | Sentry Insurance | $308 |
24 | National General | $348 |
25 | Hanover | $472 |
Monthly cost of full-coverage car insurance for electric vehicles.
Electric car insurance cost vs. other vehicles
We compared the cost of car insurance for 24 popular car models to find out how the cost of insuring an electric car compares with the cost of coverage for gas-powered vehicles. On average, insurance for an electric car is $44 per month more expensive than the cost of insuring a gas-powered car.
Out of 24 vehicles, the top two most expensive to insure — Tesla's Model Y and Model 3 — are electric. The Chevy Bolt and Nissan Leaf also placed in the top 10 most expensive cars to insure.
Rank | Vehicle | Average annual premium |
|---|---|---|
1 | Tesla Model Y | $248 |
2 | Tesla Model 3 | $231 |
3 | Honda Accord | $177 |
4 | Ram 1500 | $176 |
5 | Toyota Corolla | $174 |
6 | Toyota Camry | $174 |
7 | Chevrolet Bolt | $174 |
8 | Honda Civic | $174 |
9 | Nissan Leaf | $170 |
10 | Toyota RAV4 | $167 |
11 | Chevrolet Silverado | $164 |
12 | Nissan Rogue | $162 |
13 | Subaru Forester | $161 |
14 | Ford Explorer | $160 |
15 | Jeep Grand Cherokee | $160 |
16 | Toyota Highlander | $157 |
17 | Jeep Wrangler | $156 |
18 | Ford Escape | $155 |
19 | Chevrolet Equinox | $153 |
20 | Subaru Outback | $152 |
21 | Toyota Tacoma | $152 |
22 | GMC Sierra | $151 |
23 | Honda CR-V | $148 |
24 | Ford F-150 | $146 |
Monthly cost of full-coverage car insurance, sorted from most expensive to cheapest to insure.
Why is insurance higher for electric cars?
There are a couple of reasons why it’s more expensive to get insurance for an electric car. Insurance for EVs costs more because electric cars tend to be more expensive to replace than gas-powered models. This is especially true of high-end electric cars, such as Teslas.
Electric cars also cost more to insure because they have more specialized features than a regular car does. These features cost more to manufacture — and more to repair. When insurance companies determine their rates, they take into account the cost it would take to repair a car after a crash.
Best car insurance for electric vehicles: Travelers
Best company for insuring electric cars
Travelers is affordable and has a discount that hybrid and electric vehicle owners can use to lower their rates.
Read our full Travelers car insurance review
Travelers is the best insurance company for electric cars. On average, coverage from Travelers costs $132 per month (or $1,579 per year). While it’s slightly more expensive than a few of its competitors, Travelers has electric vehicle insurance that’s still 36% cheaper than average.
Electric car owners can lower their premiums even more with the hybrid/electric car discount that Travelers offers. On top of that discount, Travelers also allows drivers to save by:
Signing up for electronic payments
Avoiding accidents and tickets for at least three years
Completing a training course
Requesting a quote before their existing policy expires
Owning a home
We also recommend Travelers as the best car insurance for electric vehicles because of its options for additional insurance. Drivers can add new car replacement, roadside assistance, gap coverage for a vehicle paid for with a loan, and accident forgiveness to a regular policy.
Cheapest electric car insurance in every state
MAPFRE is the most affordable company for electric car insurance overall, but it’s not the cheapest company in any one state. Instead USAA is the cheapest electric car insurance company in 20 states, which makes it most often the company with the lowest rates.
For drivers who aren’t in the military, State Farm, Auto-Owners, American National, and GEICO are all cheap companies for electric car insurance. In 31 states, coverage from the company with the cheapest electric car insurance rates costs less than $100 per month.
State | Cheapest company | Monthly cost |
|---|---|---|
USAA | $114 | |
USAA | $107 | |
Auto-Owners | $100 | |
USAA | $107 | |
Wawanesa | $134 | |
American National | $87 | |
GEICO | $83 | |
State Farm | $114 | |
USAA | $123 | |
State Farm | $148 | |
Auto-Owners | $119 | |
State Farm | $96 | |
American National | $52 | |
Pekin | $63 | |
USAA | $81 | |
Pekin | $80 | |
USAA | $104 | |
GEICO | $133 | |
USAA | $151 | |
Auto-Owners | $62 | |
USAA | $86 | |
Norfolk and Dedham | $111 | |
GEICO | $120 | |
Farm Bureau | $89 | |
USAA | $95 | |
USAA | $84 | |
USAA | $94 | |
Auto-Owners | $118 | |
GEICO | $83 | |
Auto-Owners | $72 | |
Palisades | $132 | |
USAA | $101 | |
American Family | $99 | |
Kemper | $76 | |
USAA | $85 | |
USAA | $81 | |
USAA | $107 | |
State Farm | $85 | |
Erie | $93 | |
State Farm | $113 | |
American National | $64 | |
Kemper | $104 | |
State Farm | $86 | |
Farm Bureau | $116 | |
USAA | $95 | |
State Farm | $77 | |
USAA | $83 | |
USAA | $95 | |
USAA | $98 | |
USAA | $78 | |
American National | $64 |
Monthly cost of full-coverage car insurance for electric vehicles.
→ Learn the best way to find EV charging stations near you
Electric car insurance costs by state
The average cost of insuring an electric vehicle is $206 per month, but cost also depends on the state you live in — among other factors that affect rates. We found that the cost of car insurance for an electric vehicle can vary by as much as $2,502 per year depending on where you live.
On average, the most expensive state for electric car insurance is Florida. In Florida, coverage costs drivers $313 per month, but can get as high as $782 per month. The cheapest state for insurance on an electric car is North Carolina, where rates are $105 per month.
We also found that the difference in electric car insurance costs and premiums for gas-powered vehicles varies by the state. In North Carolina, the difference is the smallest (just $11 per month). The difference is largest in Mississippi, where it costs $79 more per month to insure an electric car.
State | Monthly cost | Difference from non-EVs |
|---|---|---|
Alabama | $195 | $33 |
Alaska | $162 | $39 |
Arizona | $182 | $34 |
Arkansas | $223 | $55 |
California | $217 | $46 |
Colorado | $210 | $46 |
Connecticut | $224 | $62 |
Delaware | $219 | $39 |
District of Columbia | $224 | $62 |
Florida | $313 | $78 |
Georgia | $181 | $24 |
Hawaii | $121 | $21 |
Idaho | $122 | $19 |
Illinois | $158 | $32 |
Indiana | $147 | $28 |
Iowa | $145 | $32 |
Kansas | $203 | $45 |
Kentucky | $247 | $47 |
Louisiana | $295 | $62 |
Maine | $130 | $23 |
Maryland | $209 | $41 |
Massachusetts | $174 | $31 |
Michigan | $264 | $51 |
Minnesota | $160 | $28 |
Mississippi | $240 | $79 |
Missouri | $202 | $47 |
Montana | $194 | $43 |
Nebraska | $218 | $45 |
Nevada | $235 | $42 |
New Hampshire | $150 | $37 |
New Jersey | $226 | $33 |
New Mexico | $172 | $31 |
New York | $223 | $27 |
North Carolina | $105 | $11 |
North Dakota | $167 | $31 |
Ohio | $119 | $22 |
Oklahoma | $208 | $36 |
Oregon | $151 | $25 |
Pennsylvania | $193 | $37 |
Rhode Island | $224 | $51 |
South Carolina | $210 | $36 |
South Dakota | $184 | $34 |
Tennessee | $162 | $38 |
Texas | $196 | $30 |
Utah | $172 | $33 |
Vermont | $141 | $32 |
Virginia | $193 | $68 |
Washington | $180 | $34 |
West Virginia | $199 | $44 |
Wisconsin | $132 | $24 |
Wyoming | $170 | $29 |
Car insurance for Teslas
While you can get auto coverage for a Tesla from any of the major insurance companies, the brand also offers its own insurance that claims can offer drivers lower rates than competitors. Tesla partners with insurance companies to offer its own coverage in the following states:
Arizona
California
Colorado
Illinois
Ohio
Oregon
Texas
Virginia
If you sign up for Tesla car insurance, your driving behavior is recorded by your vehicle. The system updates your monthly premium based on the distance you keep from other cars, your braking, speed, turning, and use of the car’s autopilot.
→ Read more about how car insurance for a Tesla works
How to save money on car insurance for electric vehicles
Although the cost of electric car insurance can be expensive, it’s still possible to get affordable coverage. In addition to comparing quotes to get the lowest rate, take the following steps to reduce car insurance costs for EVs:
Search for discounts: Almost every company offers drivers a few discounts that lead to cheaper car insurance. When you’re comparing companies, pay attention to which ones offer discounts that you’re most likely to qualify for.
Bundle two forms of coverage: You could lower your cost of insurance for an electric car by insuring the vehicle with the company you already use for your home or renters insurance.
Sign up for usage-based discounts: One of the best ways to save money on car insurance is by enrolling in your insurer’s usage-based discount program. As long as you’re a careful driver, you could see much lower rates after you complete the monitoring period.
Consider a per-mile insurance plan: If your EV isn’t your primary vehicle or you don’t often have to drive it, you could benefit from per-mile insurance. Under these plans, which are offered by Liberty Mutual, Allstate, and Nationwide, you’re charged by the mile instead of a set amount each month.
Increase your deductible: Because electric cars are costly to repair, you may be able to afford to raise your deductible — the amount you pay out of pocket on a comprehensive or collision claim.
How to get car insurance for electric vehicles
There’s no special insurance requirement for electric cars. Instead, the process of getting car insurance for an electric vehicle is the same as it is for a conventional, gas-powered car. To get electric car insurance, you should:
Decide how much coverage you need
Shop for coverage
Compare quotes to find the best rates
Pick a company and select a start date
Cancel your old policy
→ Read more about how to shop for insurance and get covered
Frequently Asked Questions
Are electric cars more expensive to insure?
Yes, electric cars are more expensive to insure. This is because EVs cost more to repair and replace than a traditional, gas-powered car.
Are electric cars more expensive to maintain?
It depends. Electric car repairs are more expensive, but there are fewer parts than a gas-powered car to repair. For example, an EV doesn’t need new spark plugs, timing belts, or oil changes. Over time, the cost of increased electricity use also stays cheaper than the cost of getting gas.
What is the best insurance company for electric cars?
Travelers has the best insurance for electric cars. On average, the company’s cost of electric car insurance is 36% less than average. It also has a range of coverage options and discounts that drivers can use to lower their rates even more — including one for hybrid and electric cars.
Methodology
Policygenius found the cost of insurance for an electric car by analyzing rates provided by Quadrant Information Services. We calculated the average premium for drivers living in every ZIP code in all 50 states plus Washington, D.C. The rates we used were for full-coverage insurance, and had the following limits:
Bodily injury liability: 50/100
Property damage liability: $50,000
Uninsured/underinsured motorist: 50/100
Comprehensive: $500 deductible
Collision: $500 deductible
In some cases, additional coverages were added where required by state or insurer. Rates for overall average rate, rates by ZIP code, and cheapest companies determined using averages for single drivers ages 30, 35, and 45. Our sample vehicle was a 2017 Toyota Camry LE driven 10,000 miles/year.
Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.
