Electric car can cost nearly 50% more to insure than a petrol equivalent
APRIL 10, 2023
tags: Electric Cars
By Paul Homewood
h/t Dave Ward
An electric car could cost nearly 50 per cent more to insure than a petrol equivalent in another blow to the UK’s climate ambitions.
Drivers can expect to spend around £650 per year on insurance costs for the most sought-after models compared to about £435 for a petrol vehicle, claims car-selling website Cinch.
It noted a key reason behind the higher cost was that fewer garages around the UK were equipped to repair electric cars even though the cost of fixing them was usually lower due to having fewer moving parts.
Cinch also warned electric cars were due to become subject to road tax in two years, potentially pushing up costs even further.
Road tax and the spectre of higher insurance costs are likely to be a drag on the UK’s climate plans as the Government tries to get more people to switch to electric cars.
Electric car can cost nearly 50% more to insure than a petrol equivalent
