The stark contrast between the cheapest and most expensive electric vehicles (EVs) on the UK's roads has been laid bare by new data from Go.Compare. At one end, the Fiat 500e takes the crown as the most affordable EV to insure, with a median annual premium of just £278 – significantly lower than its non-electric counterparts.
This comes as battery electric vehicle registrations surge 24.3% in the first five months of 2026, according to the Society of Motor Manufacturers and Traders. The analysis from Go.Compare considered policies purchased between 1 January and 31 March 2026 for drivers aged 25 or over. Other models making the top ten cheapest EVs include a mix of newer and older vehicles, manufactured from 2016 onwards.
The Mini Cooper took second place with a median premium of £304, followed closely by the Dacia Spring at £333. In contrast, high-performance electric vehicles command significantly higher insurance costs – with the Porsche Taycan topping the list at an eye-watering £861 per year, more than three times as expensive to insure as the Fiat 500e.
Dino Buratti, a car expert, points out that smaller EVs typically cover fewer miles and are therefore associated with lower insurance premiums. However, he stresses that individual quotes will vary depending on factors such as driving history and annual mileage, making it essential for drivers to compare prices before making the switch to an electric vehicle.
The UK government's £3,750 grant towards eligible new EVs remains a significant incentive for consumers, while lower home charging costs further boost the appeal of electric vehicles. As more motorists consider making the switch, understanding insurance premiums is crucial in calculating the true cost of owning an EV.