More than one out of five U.S. drivers aspire to purchase an electric vehicle (EV) when the time comes for a new car, according to Forbes. At least some of those drivers, however, may pause on that decision once they learn that electric vehicles tend to be more expensive to insure than traditional cars and trucks. Bankrate.com says the reason for higher electric-vehicle premiums is that these coveted, sustainable automobiles are often more expensive to build and repair than traditional vehicles. So the sweet spot for many drivers may be an electric vehicle that's also affordable to insure. "Many consumers are drawn to EVs due to their concern for the environment and their desire to cut down on their carbon footprint," Chong Gao, director of Product Management R&D for Mercury Insurance said in a recent press release. "Lower operating costs and the convenience to charge their car at home, work, or while running errands were also cited as benefits." With vehicle popularity and insurance affordability in mind, Mercury Insurance recently compiled a list of the model-year 2022 electric vehicles that tend to be the most affordable to insure. The slideshow above illustrates these affordable-to-insure EVs, according to Mercury Insurance, which is one insurance carrier that offers a discount for electric vehicles. See also: |
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Elana Ashanti Jefferson
Elana Ashanti Jefferson serves as ALM's PropertyCasualty360 Group Chief Editor. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].
