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The average annual cost of insurance for electric cars is now cheaper than petrol or diesel cars, falling by £75 in the first quarter of 2021.
That is according to new research by Compare The Market, which revealed that electric vehicles (EVs) are typically £45 cheaper to insure than petrol or diesel alternatives.
The average insurance premium for petrol and diesel cars for the first quarter of 2021 sits at £611, with a much lower cost of £478 for the cheapest electric car premium.
The report also showed that as well as car insurance premiums typically being lower for EVs, road tax is also cheaper, with cars that do not emit carbon and costing less than £40,000 not needing to pay.