While green vehicles – electric vehicles, hybrids and plug-in hybrids – are typically more expensive to insure than their gas-powered counterparts, the premium bump may not be as much as you think.
However, high-end sport EVs and hybrids can be very expensive to insure – a high sticker price, expensive repair costs and a big battery under the hood almost always result in pricey insurance.
- EVs and hybrids are usually more expensive to insure than gas-powered vehicles because they typically have higher sticker prices, more expensive repairs and an expensive battery.
- Insurance premiums can vary dramatically for electric vehicles and hybrids. Shopping regularly for car insurance will ensure you are not overpaying for coverage.
- It is still possible to get major tax rebates when purchasing a green vehicle – depending on which one you want – which can help offset your insurance cost.
- What are the most expensive hybrids to insure?
- What’s the most expensive car insurance for an electric vehicle?
- Priciest car insurance for green vs. gas-powered vehicles
- What are the most expensive companies for green vehicles?
- Why do green vehicles cost more to insure?
- FAQ: The most expensive EVs and hybrids to insure
- Final thoughts on car insurance for EVs and hybrids
- Resources & Methodology
What are the most expensive hybrids to insure?
Hybrids and EVs tend to be more expensive to insure than gasoline-powered vehicles. The cost to insure a hybrid will vary dramatically depending on the vehicle and your risk factors. Insurers consider a variety of factors including the sticker price of the car, safety features, repair costs and the type of vehicle.
Sports cars are always more expensive to insure – they tend to have large motors, high top speeds and are often driven by more risk-prone drivers. The five most expensive hybrids to insure comprise high-end sports cars with Audi in the three top spots.
Here are the top five most expensive hybrids to insure:
- Audi RS6 Avant Quattro: $3,922
- Porsche Panamera: $3,855
- Acura NSX Type S: $3,626
- Audi RS7 Quattro: $3,534
- Audi S7 2.9T Quattro: $3,237
The most expensive to insure hybrid, the Audi RS6 Avant Quattro, has a sticker price that starts at $117,000 and is available with a V8 that will crank out 591 horsepower and can go from 0 to 60 mph in 3.3 seconds. All of that power and the high sticker price leads to expensive insurance.
Insurers are on the hook to replace your vehicle if a covered peril destroys it, so a high sticker price will always push up your insurance costs. And since a hybrid has both a gas engine and an electric motor, the vehicle and repair costs tend to be higher than a gas-powered vehicle.
| Make Model (group) | Avg. Annual Premium |
|---|---|
| Audi RS6 Avant Quattro | $3,922 |
| Porsche Panamera | $3,855 |
| Acura NSX Type S | $3,626 |
| Audi RS7 Quattro | $3,534 |
| Audi S7 2.9T Quattro | $3,237 |
| Lexus LC500h | $3,106 |
| Lexus LS 500H | $3,015 |
| Audi S6 2.9 TFSI Quattro | $2,903 |
| Jeep Wagoneer Series | $2,896 |
| Mercedes GLE53 AMG 4MATIC | $2,852 |
| Mercedes CLS450 | $2,825 |
| Volvo V60 T8 Polestar R-Design | $2,795 |
| Mercedes E53 4MATIC AMG | $2,793 |
| Audi A7 3.0T Quattro | $2,790 |
| Audi A7 2.0T Quattro Prestige | $2,739 |
| Audi A6 Allroad Quattro | $2,571 |
| Mercedes GLE580 4MATIC | $2,533 |
| Audi A6 3.0T Quattro | $2,518 |
| Volvo S90 B6 | $2,480 |
| Porsche Cayenne E-Hybrid | $2,472 |
Learn more about how much electric car insurance cost
What’s the most expensive car insurance for an electric vehicle?
Electric cars are even more expensive to insure than hybrids, with the most expensive on our list costing $4,150 a year for car insurance. Like hybrids, the most expensive electric vehicles to insure tend to be sports cars with big engines, high sticker prices and very high top speeds.
“Car insurance is more expensive for EVs because EV vehicles cost more than gas-powered vehicles and have higher repair and replacement costs for damaged parts. Hybrid vehicles have the same issue. Due to the vehicle being more expensive to repair, the insurance will inevitably be more,” says Nadia Bical, vice president at Bical Auto Mall in New York.
The Audi RS E-Tron GT starts at $143,445 has 590 horses under the hood, will hit 60 mph in 2.9 seconds and flies through a quarter mile in 11.0 seconds flat, hitting 127 mph. Its restricted top speed is 156 mph, and all of these factors lead to very expensive car insurance.
Tesla is a pricey choice of vehicle as it landed in three of the top five spots for the most-expensive EVs to insure. The Porsche Taycan Turbo S which shares a motor and transmission with the Audi RS E-Tron GT rounds out the top five.
Here are the top five most expensive electric vehicles to insure, according to 2022 data:
- Audi RS: $4,150
- Tesla Model S Plaid: $4,115
- Porsche Taycan Turbo S: $4,028
- Tesla Model S Long Range: $3,503
- Tesla Model X Plaid: $3,385
| Make Model (group) | Avg. Annual Premium |
|---|---|
| Audi RS | $4,150 |
| Tesla Model S Plaid | $4,115 |
| Porsche Taycan Turbo S | $4,028 |
| Tesla Model S Long Range | $3,503 |
| Tesla Model X Plaid | $3,385 |
| Porsche Taycan Turbo | $3,336 |
| Porsche Taycan | $3,319 |
| Porsche Taycan 4S | $3,319 |
| Tesla Model X Long Range | $3,182 |
| Porsche Taycan 4 Cross Turismo | $2,920 |
| Porsche Taycan GTS Sport Turismo | $2,920 |
| Volvo XC40 Pure Electric | $2,785 |
| Tesla Model 3 | $2,454 |
| Tesla Model Y | $2,377 |
| Jaguar I-Pace HSE | $2,340 |
| Toyota Mirai XLE | $2,175 |
| Audi E-tron | $2,024 |
| Ford Mustang | $1,965 |
| Mazda MX-30 | $1,961 |
| Hyundai Nexo | $1,904 |
Check out our detailed guide on what you need to know about insuring an electric car
Priciest car insurance for green vs. gas-powered vehicles
Usually, an electric car or a hybrid will be more expensive to insure than a gas-powered version – but not always. EVs and hybrids usually have higher insurance rates because they come with a higher sticker price – they are more expensive to repair and, particularly with electric vehicles, the big expensive battery under the hood pushes up rates.
The premium difference will vary depending on the vehicle and personal risk factors.
Below is an example that highlights the rate differences between an EV and its gas-powered counterpart:
- Gasoline-powered Ford F-150: $1,671
- Electric Ford F-150: $1,792
Hybrid vs. a gas-powered vehicle
- Gasoline-powered Ford Escape: $1,453
- Hybrid Ford Escape: $1,487
| Make Model (group) | Gasoline | Hybrid |
|---|---|---|
| Porsche Panamera | $3,864 | $3,855 |
| Jeep Wagoneer Series | $2,885 | $2,896 |
| Land Rover Range Rover Sport | $2,720 | $2,384 |
| Audi A6 2.0T | $2,308 | $2,294 |
| Audi A5 2.0T Quattro | $2,226 | $2,248 |
| Mitsubishi Outlander | $1,697 | $1,890 |
| Toyota Avalon | $1,857 | $1,864 |
| Hyundai Sonata | $1,847 | $1,859 |
| Ford Explorer | $1,691 | $1,771 |
| Hyundai Tucson | $1,511 | $1,770 |
| Dodge Ram 1500 | $1,762 | $1,764 |
| Hyundai Elantra | $1,750 | $1,756 |
| Toyota Camry | $1,710 | $1,712 |
| Kia Sorento | $1,629 | $1,689 |
| Hyundai Santa Fe | $1,579 | $1,667 |
| Honda Accord | $1,652 | $1,665 |
| Toyota Highlander | $1,597 | $1,660 |
| Chrysler Pacifica | $1,555 | $1,648 |
| Toyota RAV4 | $1,504 | $1,577 |
| Ford Escape | $1,453 | $1,487 |
| Honda CR-V | $1,398 | $1,449 |
| Jeep Wrangler | $1,503 | $1,442 |
Read more about what are the hidden costs of owning an electric car
What are the most expensive companies for green vehicles?
Like gas-powered cars, the cheapest insurance company for a green vehicle will vary depending on the vehicle and various other factors. Insurance companies use proprietary algorithms to set rates, so premium quotes will vary depending on personal risk factors and the exact vehicle.
When we ran the numbers on hundreds of green vehicles, our data showed huge differences in premium quotes for the same vehicle.
Take a look at the differences in premiums for the EVs and hybrids on our list with the most-expensive insurance:
EVs:
| Make Model (group) | Company | Avg. Annual Premium |
|---|---|---|
| Audi E-Tron | Allstate | $3,105 |
| Audi E-Tron | Geico | $1,949 |
| Audi E-Tron | Farmers | $2,115 |
| Audi E-Tron | Nationwide | $1,715 |
| Audi E-Tron | Progressive | $1,654 |
| Audi E-Tron | State Farm | $1,591 |
Hybrids:
| Make Model (group) | Company | Avg. Annual Premium |
|---|---|---|
| Audi RS6 Avant Quattro | Allstate | $6,231 |
| Audi RS6 Avant Quattro | Geico | $4,582 |
| Audi RS6 Avant Quattro | Farmers | $3,162 |
| Audi RS6 Avant Quattro | Nationwide | $5,487 |
| Audi RS6 Avant Quattro | Progressive | $1,553 |
| Audi RS6 Avant Quattro | State Farm | $2,353 |
The numbers highlight how dramatically the premiums can vary between insurers. The Audi E-Tron’s most expensive premium (Allstate) is 95% more than the lowest premium (State Farm).
Interestingly, the difference in premiums for a hybrid is even more dramatic than the EV. The most expensive policy (Allstate) is 301% more than the lowest premium (Progressive).
The staggering difference in premiums clearly shows that shopping your coverage regularly is one of the best ways to lower your insurance costs – do it once a year, get quotes from at least five insurers and make sure you are comparing apples to apples when it comes to coverage levels and deductibles.
Why do green vehicles cost more to insure?
In most cases, it’s more expensive to insure an electric or hybrid car than a similar conventional vehicle. Electric vehicles and hybrids are more expensive to insure for various reasons.
“In many cases, electric vehicles are more expensive to purchase and repair than their gas-powered counterparts. These high repair costs are reflected in insurance premiums for the car. Ultimately, it would cost the insurance company more to replace or repair an electric vehicle and that difference can get passed on to the consumer, resulting in higher rates, says Ian Lang, senior car advice editor with Bumper.com
Here are a few different factors that push up the cost of insuring an electric vehicle or hybrid:
- Big battery: The big battery under the hood pushes up the insurance cost because it is very expensive to replace if the car is in an accident. Even a minor accident can damage the battery, and if it needs to be replaced, it can cost more than $15,000 so insurers charge a higher premium to cover that risk.
- Technology: EVs and hybrids are usually loaded with technology, high-end electronics and advanced safety features which are always expensive to repair. High repair costs will almost always push up the cost of insurance.
- Sticker price: Electric vehicles and hybrids tend to have a higher purchase price than gas-powered vehicles, which results in a higher insurance premium. Your insurer will have to cover the cost of replacing your vehicle if a covered peril destroys it, so the higher the purchase price, the higher your premium.
FAQ: The most expensive EVs and hybrids to insure
Do electric vehicles cost more to insure?
While it varies by vehicle, it will usually cost more to insure an electric vehicle when compared to similar gas-powered vehicles. This is because EVs have expensive batteries, are loaded with technology and have a high sticker price, all factors that lead to pricey car insurance.
How can I find affordable car insurance for my electric vehicle?
Finding the most affordable insurance for an electric vehicle is no different than shopping for a gas-powered car.
Here are a few tips to find an affordable policy:
- Shop around: Insurers rate risk differently which can result in dramatic differences in premium quotes. Shop your coverage yearly and get quotes from at least five insurers. Always compare apples to apples when it comes to coverage levels and deductibles.
- Discounts: Insurance companies offer tons of discounts so ask your agent to do a discount review to ensure that all available discounts are being applied to your policy.
- Increase your deductible: If you can afford to double your deductible, you should see significant savings. Always choose a deductible you can easily afford if you have to make a claim.
Can I get a tax credit if I buy an EV?
Yes, in many cases there are both federal and state tax credits for drivers who purchase an EV. The credit can vary by the state you live in and the electric vehicle you buy. Tax credits can be significant – the federal credit is currently $7,500 so make sure you get every credit you are qualified to receive.
Check the Alternative Fuels Data Center for information regarding state and federal tax credits for EVs, hybrids and other alternative fuel vehicles.
Which EV is the most expensive to insure?
EVs are typically more expensive to insure than gas-powered vehicles and even hybrids. The big battery under the hood is one major factor that pushes up the cost of insurance. The batteries that power EVs are extremely expensive, they can easily run $15,000 to replace and insurers have to factor this cost into their premium.
In addition, EVs often require specialized technicians to repair them which pushes up the cost of repairs and that leads to higher insurance premiums.
When it comes to costly insurance premiums, the Audi RS grabbed the top spot. This electric beauty costs $4,150 a year to insure. Tesla grabbed second place with the Model S Plaid, which costs $4,115 to insure.
The rest of the top five comprises the Porsche Taycan Turbo and two other Teslas.
What are the benefits of buying an EV or hybrid?
Electric vehicles and hybrids offer a variety of benefits. In addition to helping the environment, green vehicles come with fewer maintenance requirements and in most cases are cheaper to operate than gas-powered vehicles.
“Electric vehicles and hybrid cars have very few moving parts and don’t require as much maintenance as gasoline-powered vehicles, saving consumers’ time with oil changes, fuel filters and more. Also, electric vehicles are much better for the environment, as they have no gasoline and produce no tailpipe emissions,” says Bical.
Final thoughts on car insurance for EVs and hybrids
Green vehicles are becoming more common on the road as consumers switch to EVs and hybrids. Even though green vehicles can be more expensive to insure, some customers are willing to offset their carbon emissions for a slightly higher insurance cost.
However, when it comes to high-end sports EVs and hybrids (just like their gas-powered counterparts) you can expect pricey premiums. Big engines, massive top speeds and expensive repair costs all lead to premiums that are higher than average.
Make sure to shop your coverage regularly – there can be dramatic differences in premium quotes with some insurers charging more than double that of their competitors for green vehicles.
Resources & Methodology
Sources:
- EERE. “Alternative Fuels Data Center.” Accessed January 2023
- Bumper. “Know your car’s estimated value.” Accessed January 2023
Methodology:
CarInsurance.com commissioned Quadrant Information Services to pull rates in 2022 for a 40-year-old single male driver with full coverage (100/300/50 and a $500 deductible), a good driving record.
