Young woman charging her electric car in the city

Most Affordable Electric Vehicles to Insure

Electric vehicles (EV) have been rising in popularity with auto consumers in the last few years. Studies have shown that 71% of U.S. drivers would consider buying an EV in the future, with more than 30% indicating interest in an EV for their next vehicle purchase1.

Electric vehicles offer several advantages over conventional internal combustion engine vehicles. There are a variety of charging options meaning you can “fuel” your vehicle up without having to inconvenience your daily routine. In fact, EV owners who charge at home overnight can expect to travel at least 100 miles, according to the U.S. Department of Energy2.

“Electric vehicles are very attractive to consumers from styling to performance,” said Mercury Insurance Director of Product Management R&D Chong Gao. “EVs have very responsive torque and can be charged at home, at work, or while you’re out running errands.”

EV owners may also benefit from programs offered by their utility providers, like lower rates during certain hours, EV-only electrical rate plans, and itemized costs for home charging usage. Additionally, electric vehicles tend to require less maintenance than a gas-powered vehicle as there are fewer moving parts that need replacing and you never have to take it in for oil changes.

“One factor that consumers will have to consider when purchasing an electric vehicle is the cost to insure it, and Mercury offers a discount on EVs in 10 of the eleven states we offer personal auto insurance,” said Gao.

Mercury Insurance was named the cheapest insurance provider for electric vehicles in California by NerdWallet3.

Photo collage of affordable electric vehicles to insure

To compile this list, Mercury’s research and development team examined 2021 model year EVs that are available at car dealerships today4.

Here is the top-ten list of 2021 green vehicles/EVs, beginning with the most affordable make and model to insure.

  1. Hyundai Santa Fe
  2. Kia Soul EV
  3. Nissan Leaf
  4. Hyundai Ioniq
  5. BMW i3
  6. VW ID4
  7. Chevrolet Bolt EV
  8. Honda Clarity
  9. Volvo XC40 Recharge
  10. Ford Mustang Mach-E

Mercury’s research and development team also examined 2016 to 2019 model year EVs — to compile this list5.

Here is the top-ten list for used green and EVs, beginning with the most affordable make and model to insure.

  1. 2016–17 Chevrolet Spark EV
  2. 2016–19 Fiat 500 Electric
  3. 2016–19 Kia Soul EV
  4. 2016–19 Nissan Leaf
  5. 2016–19 VW E-Golf
  6. 2016–19 Smart Fortwo
  7. 2016–18 Ford Focus
  8. 2017–19 Hyundai Ioniq
  9. 2016–19 BMW i3
  10. 2016–17 Mitsubishi I MIEV

Mercury offers affordable car insurance without sacrificing quality support and service. Talk with an agent today to help you find cheap car insurance.


1 https://www.consumerreports.org/hybrids-evs/cr-survey-shows-strong-interest-in-evs/

2 https://www.fueleconomy.gov/feg/topten.jsp

3 https://www.nerdwallet.com/article/insurance/car-insurance-quotes-electric-cars

4 Mercury Insurance developed the new EV list based on full coverage premium (BI, PD, COMP, COLL, MP, UMBI and UMPD) for a hypothetical driver with average factors for each rating element. 

5 Mercury Insurance developed the used EV list based on full coverage premium (BI, PD, COMP, COLL, MP, UMBI and UMPD) for a hypothetical driver with average factors for each rating element.