Most people think of Tesla Motors when electric vehicles are the subject of a conversation. It makes sense, Tesla has gotten the lion’s share of media coverage while other car makers have not. Tesla also happens to make a very beautiful, sleek, sporty, and fast car. This is probably why Tesla did not fare too well in Mercury Insurance’s most affordable electric vehicles to insure list. Keep in mind though, insurance rates will vary from each provider and it matters what your driving record looks like. With that said. Here is the complete top-10 list for 2017 all-electric vehicles, beginning with the most affordable make and model to insure*.
- Fiat 500e
- Kia Soul EV
- Nissan Leaf
- Volkswagen e-Golf
- Smart ForTwo Electric Drive
- Mitsubishi i-MiEV
- Ford Focus Electric
- Hyundai IONIQ Electric
- BMW i3
- Tesla Model 3**
LOS ANGELES, Calif. (July 27, 2017) – Electric vehicles have come a long way in the past four years, as the market has seen a strong growth in sales and the number of makes and models available to consumers. Mercury Insurance (NYSE: MCY), the least expensive insurance option for electric car owners in California, as named by Nerdwallet, put together a list of the 10 most affordable electric vehicles to insure.
Mercury’s research and development team examined the 2017 electric vehicles available at car dealerships today or in the near future to compile a list of the most affordable vehicles to insure. The list was created based on the Mercury price for full coverage – liability, comprehensive and collision – in California.
“Consumer interest and intent to buy electric vehicles has increased substantially,” said Chong Gao, senior product manager, R&D for Mercury Insurance. “We put together this list to help inform your decision, because many people don’t consider what it will cost to insure a vehicle before they buy it.”
There you have it, like any gas powered car, you have to insure your electric vehicle as well and that is a huge consideration before purchase. Although, if you can afford a Tesla, I’m not thinking money is a huge issue for you.
*Mercury Insurance developed the list using a 30-year-old male with a clean driving record, who lives in Newport Beach, California and travels 13,000 miles per year. The full coverage with a $500 deductible includes liability limits of $100,000 in injuries per person, $300,000 per accident, and $50,000 in property damage.
**Personal auto insurance quotes for Teslas are available by calling a local Mercury agent.
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