The cost of insurance for electric cars has reversed by an average of £75 in the first three months of 2021, meaning the vehicles are still cheaper to insure than petrol or diesel motors - but the gap as narrowed.
The average annual premium for electric vehicles has dropped to £566 in the first quarter, down from £641 in the previous three months, according to data from Compare the Market.
Now, electric vehicles are typically £45 cheaper to insure than petrol and diesel alternatives, although some electric cars can still be more expensive to insure than others.
However, this gap has narrowed substantially compared to the last three months of 2020, with petrol and diesel models seeing bigger falls in cost.
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