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EVs now account for one in every 150 car insurance queries in the UK, with London leading the way.
One in every 150 enquiries for car insurance now relates to electric vehicles, according to new data.
Insurance price comparison website MoneySuperMarket says this is an 80 percent increase compared with the start of 2020. Back then, only one in every 270 queries was for an EV.
London seems to be leading the way in demand for electric cars. One in 100 car insurance enquiries in the capital related to an EV – a 25 percent increase in the number of people considering taking out a policy versus the end of 2020.
The centrally located City of London has by far the highest proportion of car insurance enquiries for electric vehicles recorded in any area to date. They represented more than one in 10 quotes.
In general, those in the south of England are more likely to own an electric vehicle, with proportions in the south east (0.85 percent), east (0.71 percent) and south west (0.63 percent) only lower than London.
However, the north west saw the largest increase in the proportion of enquiries for electric vehicles, moving from one in every 250 in summer 2020 (0.40 percent) to one in every 170 in spring 2021 (0.58 percent) – up 40 percent.
The start of 2021 saw a significant decline in insurance premiums across all car types. However, the drop in premiums for EVs was just two percent, compared with 10 percent for diesel cars and 15 percent for petrol.
As a result, average premiums for EVs are now more expensive than petrol vehicles for the first time since 2019: £613 versus £575. Even so, diesel vehicles remain the most expensive to insure, at £618.
“The proportion of car insurance enquiries for electric vehicles continues to increase at a steady rate, and we’re likely to reach one in every 100 across the country in the near future,” said Kate Devine of MoneySuperMarket.
“While premiums for electric vehicles are now more expensive than for petrol cars, this change may only be temporary. The significant decline in car insurance prices was in part influenced by a reduction in younger drivers during the pandemic, which affected premiums for petrol vehicles more than electric, due to age differences between enquirers for each engine type.
“Premiums for electric cars have generally been lower than petrol or diesel, historically, and if we see the number of younger drivers increase this is likely to push premiums up for petrol cars more than for electric cars.”
