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Cost of electric car insurance falls by £75 in first quarter of 2021

Average annual premium now stands at £566.

Car insurance costs fall at record rate thanks to lockdown

It also said that the lockdown’s effect on driving tests had contributed to the fall. Hundreds of thousands of tests were cancelled, meaning fewer young drivers, who pay the highest premiums, took to the road. That has helped bring down the national average cost. Laura Hughes, ABI’s manager of general insurance, said: “While the national lockdown during the period may have led to fewer road journeys, it is good to see that during the first quarter of the year motorists continued to get the best deals from a competitive motor insurance market. The next few months will see significant developments in the motor market, as we cautiously emerge from the pandemic, returning to more usual driving patterns, and with the introduction, at the end of May, of the official injury claims portal that will simplify the whiplash claims process, while ensuring proportionate compensation for genuine claimants.

Cost of electric car insurance falls by £75 in first quarter of 2021

Subscribe to our daily newsletter! Sign Up Electric car charging – London The average cost of insurance for an electric vehicle has fallen by £75 in the first quarter of 2021, according to new data released today. Electric owners will now pay an average annual premium of £566, down from £641 in the previous quarter. It means that electric vehicles are now typically £45 cheaper to insure compared with petrol and diesel cars. The figures, released by comparison site Comparethemarket, show a fluctuation in the cost of electric car insurance over the years. It reached a peak of £692 in December 2019, before dropping back to £550 in February 2021 as lockdown measures continued to restrict travel.

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