Electric cars are nearly £90 cheaper to insure than the average for petrol and diesel vehicles, new research has revealed.
The average premium for electric cars over the past year is £629, compared to £718 for petrol and diesel cars, according to data from Compare the Market.
This suggests there are significant savings available to those who have an electric car, with the average cheapest premium at £527 much lower for bch electrum wallet electric car drivers than petrol or diesel drivers which currently stands at £595.
The figures gives further proof that purchasing a more environmentally friendly car can be financially viable after critics have suggested that electric cars are too expensive to cover.
Electric cars are nearly £90 cheaper to insure than the average for petrol and diesel cars
The new report is significant news for the motor industry, with previous reports claiming that electric cars are far pricier to insure.
This is because a shunt would likely damage the expensive batteries used to power the vehicles, which are most commonly spread across the floor of the car for better weight distribution and as to no eat into cabin space.
However, today’s news suggests the tide is turning – or may have already swung – in the favour of electric vehicles.