New Personal Finance
Thursday, 7/9, 01:37 AM
Why Electric Cars Cost More to Insure, and How That Is Changing
- Electric cars have carried an insurance penalty: at the 2024 peak, UK premiums ran around 25% above comparable petrol models.
- That gap has narrowed to roughly 10-15% as repair networks mature.
- Here is why EVs cost more to cover, what is bringing the premium down, and how to factor it into a purchase.