Press Office
Fuel prices drive motorists towards EVs - but which are cheapest to insure?
Top 10 cheapest EVs to insure on average revealed, with the lowest annual price at £440, according to Admiral data
- Nearly one in five (18%) drivers say they will buy an electric vehicle (EV) because of rising fuel prices, with 74% of them planning to make the switch sooner than expected
- Battery electric vehicle registrations increased 35% year-on-year in June 2026 - accounting for 30% of the new car market
- Admiral analysis reveals the cheapest electric vehicles to insure, with average annual premiums starting from £440
- Admiral shares guidance on understanding the total cost of EV ownership and what drivers should consider when comparing electric vehicles to avoid unexpected expenses
High fuel costs are encouraging more drivers to consider switching to electric vehicles, new research from Admiral has found. Nearly one in five (18%) drivers say fuel prices will influence them to buy an EV, with three-quarters (74%) of these drivers planning to switch sooner than originally expected.
This comes as demand for EVs continues to grow, with battery electric vehicle registrations increasing by 35% year-on-year and accounting for 30% of the new car market in June 2026.
While interest in EVs increases, cost concerns remain. Admiral's research found that 30% of non-EV owners believe they are too expensive to run or maintain – leaving many questioning which EVs are the most cost-effective.
The cheapest EVs to insure
Admiral's analysis of its own data reveals that some EVs are considerably cheaper to insure than others. The 10 cheapest electric vehicles to insure on average are:
Table showing top 10 cheapest EVs to insure with Admiral on average4 | |
Make and model | Average yearly premium (£) |
Alpine A290 | 439.47 |
Renault R5 E-Tech | 448.08 |
Kia EV2 | 457.84 |
Renault Scenic E-Tech | 465.81 |
Renault R4 E-Tech | 492.20 |
Dacia Spring | 499.47 |
Ford Puma Gen-E | 507.61 |
Hyundai Inster | 510.18 |
Renault Megane E-Tech | 510.67 |
Mini Aceman | 512.15 |
Craig Codell, EV Product Manager at Admiral, explains: “A common belief is that electric vehicles are expensive to run and maintain, with the cost of insurance playing a part in this. However, insurance costs can vary significantly between different vehicle makes and models.
“Some people assume specialist insurance is needed for an electric vehicle, but that isn’t usually the case. Admiral’s fully comprehensive electric car insurance includes the same core cover as its regular motor insurance, with free EV-specific benefits such as cover for charging cables, EV batteries, wall boxes (subject to a £1,000 limit), and out-of-charge recovery6. Fully comprehensive EV customers may also be eligible for additional EV benefits through our Zoom EV partnership, which includes discounts on charging, maintenance, and battery health certification to help reduce running costs.
“For those looking to make the switch, it’s important to look at the total cost of ownership rather than focusing solely on the purchase price. For example, insurance, charging costs and maintenance should all be factored into their decision. Drivers thinking about purchasing a new electric vehicle should also look into the UK Government's EV grant scheme which may enable them to reduce the upfront cost of buying an EV.
“Looking beyond the showroom price can help drivers find real value in the EV market and choose a vehicle that delivers savings over the long term.”
For more information about electric vehicle ownership and insurance, visit Admiral's EV Information Hub. Admiral has also received Defaqto’s Trailblazer Award, recognising its leading and innovative approach to electric vehicle insurance.