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Electric car insurance

Electric car insurance can cost more than insuring a traditional car, so it pays to compare. Filter by what matters to you and click through for a personalised quote.

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By

Ben Gribbin

&

Nicola Middlemiss

Updated

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Name Product Roadside assistance Accidental damage Storm Choice of repairer Agreed or market value
Budget Direct Comprehensive
Finder Award
Budget Direct Comprehensive
Optional
Optional
Agreed or Market
Finder's summary: The 2023 winner of our Best Value Car Insurance award. It's cheaper than most, plus you can lower costs by adding age restrictions.

⭐ Current offer: 15% off your first year's premium when you take out a policy online. T&Cs apply.

Who it might be good for: Anyone who wants a good value policy.
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Youi Comprehensive
Finder Award
Youi Comprehensive
Optional
Agreed or Market
Finder's summary: The 2023 winner of our Best Features Car Insurance award. Plus, it's one of the only insurers to automatically include roadside assistance.

Who it might be good for: Those who want good customer service with lots of inclusions.
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Australia Post Comprehensive
Australia Post Comprehensive
Optional
Agreed or Market
Finder's summary: Covers a little more than other insurers. You don’t need to pay an excess for windscreen repairs and cover applies to anyone who uses your car.

⭐ Current offer: Get $100 off your first year's comprehensive car insurance premium when you buy online. T&Cs apply.

Who it might be good for: Multiple people using one car.
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Bingle Comprehensive
Bingle Comprehensive
Market
Finder's summary: Our data shows it’s the cheapest comprehensive policy. It just covers the basics such as damage to your car, theft and storms – it doesn’t go in for add-ons and extras.

Who it might be good for: Those wanting a low-cost, no-frills policy.
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QBE Comprehensive
Green Company
QBE Comprehensive
Optional
Agreed or Market
Finder's summary: Our best-rated Car Insurer for Customer Satisfaction in 2021/2022 and Green Insurer for the last 3 years.

⭐ Current offer: Save $75 when you purchase a new comprehensive policy online. T&Cs apply.

Who it might be good for: Those who want a trustworthy insurer and more cover than other brands, such as 3-year new car replacement (e.g. they'll give you money for a new car for up to 3 years if yours is written off).
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Kogan Comprehensive
Kogan Comprehensive
Optional
Agreed or Market
Finder's summary: Kogan comes with all the perks that most comprehensive car insurance policies include, but you'll also be entitled to some benefits from its online store. This usually comes in the form of a gift voucher or discount if you buy online.

⭐ Current offer: Get $115 off first year premiums when you purchase Kogan Comprehensive Car Insurance online + $10 monthly kogan.com credit. T&Cs apply.

Who it might be good for: Kogan shoppers and those after a good range of policy options.
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Qantas Comprehensive
Qantas Comprehensive
Optional
Optional
Agreed or Market
Finder's summary: You need car insurance so why not get one that lets you earn Qantas Points? It's good value too (it's underwritten by the same insurer as Budget Direct). .

⭐ Current offer: Earn up to 50,000 Qantas Points with every Qantas Car Insurance policy you take out by 5 December. T&Cs apply.

Who it might be good for: People who want more bang for their buck with Qantas Points.
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ROLLiN' Comprehensive
ROLLiN' Comprehensive
Agreed
Finder's summary: One of the most cost-effective insurers for under 25s, according to Finder research, with no aged-based excess.

Who it might be good for: Young drivers looking to keep costs down and anyone who’d like to get more flexibility from their car insurance.
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Club Comprehensive 4x4 Insurance
Club Comprehensive 4x4 Insurance
Optional
Agreed or Market
Finder's summary: With Club 4X4, you can take advantage of Australia-wide cover for your 4WDs or 4x4. Importantly, insurance extends to modifications and accessories. Also, get peace of mind with personal effects cover of up to $2,000, plus, up to $1500 towards the cost of recovering your off-road vehicle if you get in trouble.

Who it might be good for: Drivers of 4WDs or 4x4s looking for wide-ranging protection ahead of their next driving adventure.
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ahm Comprehensive
ahm Comprehensive
Optional
Agreed or Market
Finder's summary: Its "pay as you drive" cover can save you up to 30% compared to its standard comprehensive cover. There's also no excess to pay if you hit a Kanga or other animal.

⭐ Current offer: Drive less? Save more. If you drive less than 15,000 km a year, our Pay As You Drive Cover could save you up to 30% compared to our regular comprehensive cover.

Who it might be good for: Rural drivers and those who drive less than 15,000 km a year.
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Coles Comprehensive
Coles Comprehensive
Optional
Agreed or Market
Finder’s summary: Mid-range cover and price but very good for perks. Double Flybuys points and $10 off at Coles every time you redeem 2,000 points, plus 1-week turnaround on repairs.

⭐ Current offer: 15% off your first year’s premium when you take out a policy online. T&Cs apply.

Who it might be good for: Those who want a wide-ranging policy with added bonuses that allow savings on everyday bills.
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Bendigo Bank Comprehensive
Bendigo Bank Comprehensive
Agreed or Market
Finder's summary: On top of the essentials, cover includes a nationwide repair network, 3-year new car replacement and up to $30m in liability insurance.

Who it might be good for: Those wanting peace of mind with lots of benefits.
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Huddle Black Comprehensive
Huddle Black Comprehensive
Agreed or Market
Finder's summary: This goes further than most insurers. You get up to 2k for stolen keys, roadside assistance and rental car excess cover (for car rentals in Australia).

Who it might be good for: Those who want top cover for their car.
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KOBA Pay per KM
KOBA Pay per KM
Agreed
Finder's summary: KOBA uses a pay-per-km system – ideal if you drive less. Its app is easy to use and costs can be as cheap as 3¢ per kilometre.

Who it might be good for: Those who don't drive long distances, such as city drivers.
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Budget Direct Third Party Property, Fire and Theft
Finder Award
Budget Direct Third Party Property, Fire and Theft
Optional
Market
Save 15% on your first year's premium when you purchase a new policy online. T&Cs apply.
Get Quote
View details
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Who offers cover for electric cars?

Most general car insurers offer insurance for electric vehicles, including Bingle, Budget Direct, Youi and Virgin - among others. Request quotes for electric car insurance, from our list of major providers below.

Is it cheaper to insure electric cars?

No. In fact, electric car insurance is usually more expensive than cover for a petrol or diesel car - but there are a few reasons for the higher price point.

  • They cost more - Electric cars don't come cheap. If you're insuring an electric vehicle, it's almost certainly high value, so your insurance premium will reflect that.
  • Parts are expensive - Electric vehicles are still relatively new to the Australian market, so there are limited suppliers and manufacturers, which means sourcing spare parts can be tricky.
  • There's a skills gap - Right now, there are very few skilled technicians who specialise in repairing electric vehicles, so they can charge a premium for their service.

While electric car owners can expect to pay more for their premiums right now, it might not always be the case. As more vehicles enter the market, the number of service providers will increase and arranging repairs will be easier - bringing the cost of insurance down.

Electric car vs fuel-powered vehicle insurance costs

We compared the Hyundai Ioniq Elite fully electric car with the Hyundai I30 Premium hatch, because both cars have similar features and are an affordable price point.

However, the Ioniq has an on-road cost of $49,523 - some 20% higher than the diesel-engined I30, which comes in at $39,430.

Fully comprehensive cover for a 30-year-old, rating one driver cost an average of $1,476 for the Ioniq, while cover would only cost $844 for the same driver if they owned the I30.

The table below shows the on-road costs for three popular electric vehicles over five years, covering an estimated 15,000 kms per year.

VehicleList priceEstimated on-roadWeekly on-road costs
BMW i3 120Ah Electric$68,700$74,722$58.34
Tesla Model S 100D Electric 1sp Auto$141,400$145,801$62.95
Tesla Model X 100D Electric 1sp Auto$146,000$150,493$64.64

On-road costs include rego, insurance, licence and RACQ membership. Figures provided by RACQ.

Interested in reading more about electric vehicles?

Make sure to read our electric car reviews section to see the latest news and updates on electric cars in australia.

Electric car comparison

1 - 8 of 8
Updated regularly
Name Product Number of seats ANCAP rating Price (from) Finder Score Review
Tesla Model S
Tesla Model S
5 seats
5 stars
$111,400
88.5%
Read Review
Porsche Taycan
Porsche Taycan
5 seats
5 stars
$280,300
87.75%
Read Review
Tesla Model 3
Tesla Model 3
5 seats
5 stars
$83,400
83.5%
Read Review
Polestar 2
Polestar 2
5 seats
5 stars
$59,900
83.25%
Read Review
Hyundai IONIQ
Green Company
Hyundai IONIQ
5 seats
5 stars
$48,970
82.25%
Read Review
Hyundai Kona Electric
Green Company
Hyundai Kona Electric
5 seats
5 stars
$58,500
82%
Read Review
MG ZS EV
MG ZS EV
5 seats
5 stars
$43,990
82%
Read Review
Nissan Leaf
Nissan Leaf
5 seats
5 stars
$49,990
76%
Read Review
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Can I get a discount on electric car insurance?

Although you might have to accept higher premiums for the meantime, there are still ways to save money on your insurance. Some insurers - like WA's RAC - will give discounts for cars which have low fuel emissions. Under the RAC scheme, cars under a year old could see a premium reduction of up to 25%.

You can also save money on your car rego if you buy an electric vehicle, while your duty costs could also be lower.

Do I need specialised insurance for electric cars?

Not necessarily. Most car insurers will offer insurance for electric cars - however, it might be trickier to find cover if you've got a rare or extremely high-value electric vehicle.

For example, some insurance companies won't cover Tesla vehicles, while others will enforce strict age limits on policyholders. This is because there are limited dealerships - just six in Australia - so coordinating repairs can be a lengthy and expensive process.

If you can't find a general insurer that is happy to cover your electric car, you can try the Insurance Council of Australia's Find an Insurer service.

Is it better to get my own choice of repairer?

Some car insurers will give you the option to use your own choice of repairer if you have to make a claim. This usually comes at an additional cost but there are benefits associated with using your own repairer - including quicker turnaround times, a more convenient location, and the ability to choose a specialist service provider.

For electric car owners, particularly those who have prestige or high-value vehicles, it's often a priority to have a specialist mechanic or technician handling the repairs process. As such, it may be worth considering an insurance company which will let you choose your own repairer.

Can I get third party insurance for my electric car?

Yes. Most car insurers will provide third party, third party fire and theft, and comprehensive insurance policies for electric cars.

However, while third party insurance might be cheaper than comprehensive cover, it won't pay out if your car is accidentally damaged. Plus, electric cars aren't exactly cheap - so it might be worth considering more comprehensive insurance.

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2 Responses

    Default Gravatar
    JimSeptember 23, 2021

    I do a search for the vehicle I want a quote for and the model isn’t listed. Dead end. The vehicle is a 2016 Nissan eNV200 24kWh van.

    Reply
      AvatarFinder
      AlisonSeptember 27, 2021Finder

      Hi Jim,

      Thanks for reaching out. Although your car model isn’t listed, you can still request for a personalised quote. Simply click the Get Quote icon on this page. You’ll be directed to the insurer’s website where you can provide the details of your vehicle.

      Make sure you read each policy’s Product Disclosure Statement (PDS) to make sure you’re covered for what you need.

      Regards,
      James

      Reply
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