LOS ANGELES, June 11, 2019 /PRNewswire/ -- Electric vehicle sales have been propelled by the entry of lower-cost models from more automotive manufacturers. Consumers are purchasing a larger proportion of all-electric-vehicles than hybrid electric vehicles. The advantages of ownership include government rebates on the initial purchase, no need to budget for gasoline, and reduced maintenance costs due to fewer parts, but one key item consumers need to factor in is the cost to insure the electric vehicle. Mercury Insurance, the most affordable insurance option for electric car owners in California according to Nerdwallet, has put together a list of the 10 cheapest electric vehicles to insure.
Mercury's research and development team examined 2019 electric vehicles available at car dealerships today or in the near future to compile a list of the most affordable vehicles to insure. The list was created based on Mercury's price for full coverage – liability, comprehensive and collision – in California.
"The thought of owning an electric vehicle continues to attract more consumers and they have even more options to pick from today than in the past," said Chong Gao, senior product manager, R&D for Mercury Insurance. "We put together this list to help inform your decision, because many people don't consider what it will cost to insure a vehicle before they buy it. Some great news is that all of the vehicles today on our list qualify for the max Federal Tax Credit rebate."
Here is the complete top-10 list for 2019 all-electric vehicles, beginning with the most affordable make and model to insurei.
Kia Soul EV
smart EQ fortwo pure coupe
Hyundai Kona Electric SEL
Ford Focus Electric
Hyundai IONIQ Electric
Chevrolet Bolt EV
About Mercury Insurance Mercury Insurance (MCY) is a multiple-line insurance organization predominantly offering personal automobile, homeowners and commercial insurance through a network of independent agents in Arizona, California, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas and Virginia. Since 1962, Mercury has specialized in offering quality insurance at affordable prices. For more information visit www.mercuryinsurance.com or Facebook and follow the company on Twitter.
i Mercury Insurance developed the list using a 30-year-old with a clean driving record, who lives in Newport Beach, California and travels 13,000 miles per year. The full coverage with a $500 deductible includes liability limits of $100,000 in injuries per person, $300,000 per accident, and $50,000 in property damage.