EV Insurance Cost Statistics 2026: How Much More You Pay
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EVs cost a bit more to insure — but the gap is closing fast. Here are the key EV insurance cost statistics for 2026.
Key findings at a glance
- EV premiums run $1,800–$2,400/yr.
- Comparable gas cars run $1,400–$1,900.
- Newer models: just an 18% gap.
- Down from 40–60% in early studies.
Source: Insurify
EV insurance premium statistics
- $1,800–$2,400 average annual EV insurance premium. (Insurify, 2025)
- $1,400–$1,900 average annual premium for comparable gas cars. (Insurify, 2025)
- 10–25% how much more EVs cost to insure than equivalent gas cars. (Recharged, 2026)
Insurance gap trend statistics
- 18% average gap for the newest models (2024–2026). (Insurify, 2025)
- 40–60% the gap shown in early studies — now narrowing toward parity. (Insurify, 2025)
- $16k vs $14k 10-year insurance estimate: EV vs gas — offset by ~$7,000 in maintenance savings. (TCO analysis, 2025)
Insurance is one slice of the picture — see the full cost of ownership statistics and maintenance savings. Shop home chargers to maximize fuel savings.
Summary table
| Metric | Figure | Source |
|---|---|---|
| EV annual premium | $1,800–$2,400 | Insurify |
| Gas annual premium | $1,400–$1,900 | Insurify |
| Newer-model gap | 18% | Insurify |
| Overall premium gap | 10–25% | Recharged |
| 10-yr insurance | $16k vs $14k | TCO 2025 |
Frequently asked questions
Are EVs more expensive to insure?
Yes, modestly — $1,800–$2,400/yr vs $1,400–$1,900 for gas, about an 18% gap on newer models (Insurify).
Is the insurance gap shrinking?
Yes — early studies showed 40–60%, but newer data shows 10–25%, with some EVs at parity.
Why do EVs cost more to insure?
Higher repair/parts costs and battery considerations, though that's improving with scale.
Related reading
- EV Cost of Ownership Statistics 2026
- EV Maintenance Cost Statistics 2026
- EV Depreciation Statistics 2026
Sources & methodology
Compiled by the ePlug Kit team from primary and tier-1 industry sources, June 2026: Insurify; Recharged. Figures are current as of publication and rounded for readability.