5 Cheapest EVs to Insure in 2026
Amid rising gas prices, more car shoppers are considering buying electric vehicles. A recent Edmunds report found that in March, shopper consideration of electric vehicles on the site rose to 11.6%, up from 9.6% in February.
If you're considering buying an EV, it's important to think about not just the sticker price but also the cost of insurance. According to Insure.com, electric cars typically cost more to insure than standard vehicles — the average cost is $3,174 per year, compared to $2,663 for all vehicles nationwide. However, if you choose wisely, you can pay significantly less.
According to Insure.com, these models are the least expensive EVs to insure in 2026.
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1. Mini Cooper Electric
Average cost of insurance: $2,099 per year
The Mini Cooper Electric typically costs less to insure thanks to its compact size, simple design and affordable parts. Repairs are cheaper than those for luxury EVs with advanced electronic systems, which helps keep insurance premiums lower.
2. Kia Niro EV
Average cost of insurance: $2,239 per year
The Kia Niro EV often has lower insurance costs thanks to its relatively simple design and reasonable repair expenses. Parts and labor are generally cheaper than for high-performance or luxury electric vehicles, making it a more affordable option to insure.
3. Hyundai Kona Electric
Average cost of insurance: $2,276 per year
The Hyundai Kona Electric is a subcompact EV that requires relatively simple repairs. Its smaller size and widely available parts help keep repair and insurance costs lower, appealing to drivers focused on minimizing ongoing ownership expenses.
4. Volkswagen ID.4
Average cost of insurance: $2,318 per year
The Volkswagen ID.4's mainstream design and components keep repair costs moderate, and fixes are generally less complex — and less expensive — than those for higher-end electric models.
5. Nissan Leaf
Average cost of insurance: $2,396 per year
The Nissan Leaf remains one of the most affordable EVs to insure due to its long production history, widespread parts availability and relatively simple electric drivetrain. Its average annual premiums are lower than those for many newer or more complex EVs — and in some states, insurance costs can be even lower.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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