The cost of insurance should be part of your calculations when you buy or lease a vehicle. With the number of EV models – and their price range – growing, consider these least expensive 2023 electric vehicles to insure.
The list includes a couple of upscale sedans and SUVs and one pick-up truck.
According to industry reports, the number of currently available and soon-to-launch EV models has doubled from 27 in 2021 to 53 in 2023, with more models in the pipeline.
The top ten list was researched by Mercury Insurance, a leading auto insurer in California and provider of auto insurance in ten other states, and offers a discount on EVs in ten of the 11 states where it offers personal auto insurance.
The list of 2023 electric vehicles, beginning with the most affordable make and model to insure is:
- Kia Soul EV
- Nissan Leaf
- Ford F-150 Lightning
- Hyundai IONIQ 5
- Volvo C40 Recharge
- Volvo XC40 Recharge
- Mazda MX-30
- Chevrolet Bolt EV
- Volkswagen ID.4
- (a tie at 10th) Audi Q4 E-Tron, Ford Mustang Mach-E, Kia EV6, Mercedes EQB and Polestar 2
“EVs are growing on consumers and many are considering one as their next vehicle,” said Mercury Insurance Director of Product Management R&D Chong Gao. “One of the most important aspects of ownership that needs to be considered is the cost of insuring an EV. This cost can make up a significant portion of owning one and Mercury provides an EV discount in most of the states it operates in.”
About Mercury Insurance
The company is a multiple-line insurance carrier predominantly offering personal auto, homeowners and renters insurance through a network of independent agents in Arizona, California, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas and Virginia, as well as auto insurance in Florida.
Mercury writes other lines of insurance in various states, including commercial, business owners and business auto, landlord, home-sharing, ride-hailing and mechanical protection insurance.
It has been in business since 1962. For more information visit www.MercuryInsurance.com