Fiat 500e is the most affordable pure electric vehicle to insure with the popular Tesla Model 3 makes the list
Electric vehicles have come a long way in the past five 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.”
Here is the complete top list for all-electric vehicles, beginning with the most affordable make and model to insure*.
Kia Soul EV
Smart ForTwo Electric Drive
Ford Focus Electric
Hyundai IONIQ Electric
Tesla Model 3**
*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.
Source: Mercury Insurance (MCY) www.mercuryinsurance.com
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