Why Electric Car Insurance is Cheaper

Is electric car insurance cheaper?

Buying a car is always a big expense. This is even more the case for an electric vehicle. According to a report by France Strategy, the additional cost of an electric car compared to its thermal engine equivalent is €16,000. [1].

However, this figure does not take into account aid, such as the ecological bonus, the conversion bonus or aid for the installation of a charging station. These devices allow the household to limit this additional cost. Subsequently, a segment B electric vehicle is less expensive for a household. Savings are around €1,200 per year taking into account maintenance and energy costs. For’assurance auto also, the balance sheet is very advantageous.

Thermal car insurance vs electric car insurance: the numbers

The insurance comparator lelynx.fr conducted a study on the cost of car cover depending on fuel. The price of insurance for an electric vehicle is well below that of a model with a combustion engine. On third-party coverage, in 2023, the average annual cost of the premium for a diesel is €544.99 and €522.69 for a petrol car. With electric, the price is €420.32.

With intermediate insurance, the difference decreases, but the electric keeps the advantage. A vehicle with zero CO2 emissions thus costs, on average, €601.06 per year. The cost rises to €602.95 for a petrol and €608.67 for a diesel. Electric cars are recent models, so owners tend to opt for all-risk cover. Here again, the choice of a vehicle running on electricity pays off. When the average annual insurance premium for a diesel is €762.77 and €766.95 for a petrol. For an electric car, this is €702.07.

Why are electric cars cheaper to insure?

The calculation of the cost of insurance takes into account several risk factors. Among them is the number of accidents involving each type of engine. However, electric vehicles have fewer accidents compared to thermal cars. This data is not enough to explain a cost difference of up to €64 per year on all-risk insurance.

The abolition of the special tax on insurance agreements (TSCA) also gives a great advantage to electric cars. This tax levied on insurance agreements makes it possible to finance departmental firefighting and rescue services, but also various solidarity funds. This tax is no longer levied on electric vehicles acquired between 2021 and 2023.

Electric car car insurance: what cost depending on the model?

The data collected by lelynx.fr makes it possible to accurately estimate the cost of car insurance for the most popular electric vehicles. In 2022, the average annual bonus was:

• €390.52 for the Dacia Spring;
• €475.49 for the Nissan Leaf;
• €494.82 for the Renault Zoe;
• €496.79 for the Opel Corsa VI;
• €524.15 for the BMW i3;
• €541.02 for the Kia Niro;
• €550.66 for the Hyundai Kona;
• €584.04 for the Mini;
• €669.09 for the Peugeot 208 II;
• €801.31 for the Tesla Model 3.

Almost all of the car manufacturers on this list have an average annual insurance cost of less than €700. This even drops below €400 with Dacia’s SUV-style city car. Only the luxury brand Tesla remains above the lot, while displaying a reasonable cost given the performance of its models.

These figures are only averages, but as electric vehicles are mainly covered against all risks, they give you a good estimate. However, it is important to compare the offers of different insurers in order to find the most advantageous price. No need to waste time soliciting different companies. Thanks to lelynx.fr, you can compare up to 75 quotes in minutes. To help you find the best offer, lelynx.fr competes with the rates of more than 20 insurers.

More expensive to buy, the electric car is a good long-term investment. Maintenance is more affordable, the cost of electricity more advantageous compared to that of fuel, even car insurance is less expensive. With an average saving of €60 on all-risk insurance, compared to a thermal vehicle, you considerably reduce your expenses. By comparing the offers with lelynx.fryou are guaranteed to get the best price.

[1] France Electric Car Strategy Report: