An electric car could cost nearly 50% more to insure than a petrol equivalent, marking another blow to Britain’s climate ambitions
An electric car could cost almost 50 per cent more to insure than a petrol equivalent in another blow to Britain’s climate ambitions.
Drivers can expect to spend around £650 a year on insurance costs for the most desirable models, compared to around £435 for a petrol car, claims car sales website Cinch.
Expensive: Drivers can expect to spend around £650 a year on insurance costs for the most desirable models, compared to around £435 for a petrol car
It noted that a major reason for the higher costs was that fewer garages in the UK were equipped to repair electric cars, although repair costs were usually lower because there were fewer moving parts.
Cinch also warned that electric cars would have to pay road tax in two years’ time, potentially increasing costs even further.
Road tax and the specter of higher insurance costs are likely to hinder the UK’s climate plans as the government tries to get more people to switch to electric cars.
Figures last week from the Society of Motor Manufacturers and Traders (SMMT) showed that while battery electric vehicle sales hit a record 46,626 in March, they still accounted for just over 16 percent of the market, the same share as a year ago.