As the demand for electric vehicles (EVs) continues to rise, insurance companies are taking notice and providing valuable information to consumers. Mercury Insurance recently released a list of the most affordable new electric vehicles to insure in 2024, catering to the growing popularity of EVs, especially in California. This list is a valuable resource for those considering making the switch to an electric vehicle, as it provides insights into the cost of ownership beyond just the purchase price.
The research and development team at Mercury Insurance considered various factors when compiling this list, including the frequency of claims for similar models, repair expenses, and safety records. These factors play a significant role in determining the cost of insuring a vehicle, making it essential for consumers to be well-informed before making a decision. By focusing on EVs from the 2024 model year that are currently available in dealerships, Mercury Insurance aims to provide up-to-date and relevant information to potential buyers.
The list of the 10 most affordable new EVs to insure includes popular models such as the Nissan Leaf, Ford F-150 Lightning, Kia Niro, Hyundai IONIQ, Volvo C40/XC40 Recharge, Chevrolet Equinox EV, Fiat 500e, Subaru Solterra/Toyota BZ4X/Fisker Ocean Sport, Volkswagen ID.4, and Genesis G80. These vehicles offer a range of options for consumers looking to make the switch to electric while also considering insurance costs.
Chong Gao, the director of product management R&D at Mercury, emphasized the importance of considering the total cost of ownership when researching an ideal EV. Insurance plays a crucial role in this calculation, and understanding the insurance costs associated with different models can help consumers make informed decisions. Gao highlighted that for many customers, this may be their first time considering an EV, making it essential to have as much information as possible.
In addition to the list of affordable new EVs to insure, Mercury Insurance also published a similar list for trucks and sport utility vehicles earlier this year. This comprehensive approach to providing information on insurance costs for different vehicle types demonstrates Mercury’s commitment to helping consumers make informed decisions when purchasing a new vehicle.
Overall, the release of this list by Mercury Insurance serves as a valuable resource for consumers looking to transition to electric vehicles. By considering factors such as insurance costs alongside other ownership expenses, consumers can make well-informed decisions that align with their budget and preferences. As the popularity of EVs continues to grow, having access to this type of information becomes increasingly important for consumers navigating the transition to electric mobility.