Overview
- Insurify found the average annual full-coverage premium for EVs is about $3,159, roughly 42% higher than for gas cars and nearly $1,000 more per year for many owners.
- Rates vary widely by state and model, with Washington, D.C. and Rhode Island among the highest spreads and Maine among the lowest, driven by local theft, weather, density and repair capacity.
- Insurers point to higher repair costs for EVs as the main cause, citing expensive battery packs and complex electronics that raise parts and labor bills.
- Model design can sharply raise repair costs: Mitchell analysts say the 2022–2025 Ford F-150 Lightning required extra reinforcement and battery removal steps that increased repair costs by about 30%.
- After the gap widened from 29% in 2023 to about 49% in 2025, 2026 data show the disparity has eased and is much smaller for cars made in the last two years, a shift tied to more insurer data, falling battery prices and growing competition among carriers.