Motorists Reluctant on Electric Cars Due to 54% Higher Insurance

Over half of Britons are not planning to switch to driving an electric car, with 86% saying they prefer petrol or diesel vehicles. That’s according to a new survey by the price comparison experts at Quotezone.co.uk, who quizzed motorists on making the switch to an electric vehicle.

57% of those questioned said they were not planning to go electric, and 8% claimed they would only make the switch just before the 2035 deadline set by the government.

78% said they are not looking forward to the switch to an electric vehicle, and only 9% said they intend to make the switch within the next two years.  A fifth (19%) say the switch must wait 2-10 years.

By 2035, all newly registered cars in the UK will need to be electric or zero-emission vehicles. Petrol and diesel vehicles will no longer be for sale.

By 2030, 80% of new cars sold in Great Britain will be zero-emission, reaching 100% by 2035.

These changes fall under the Zero Emission Vehicle Mandate (ZEV), which sets the percentage of new zero-emission vehicles manufacturers will be required to produce each year up to 2030.

Questioned on why they were not prepared to make the switch to electric earlier, over a third (36%) of respondents said the cars were too expensive, with one in five (21%) saying the charging infrastructure wasn’t good enough – with over 62,000 charging points across just under 33,000 charging locations in the UK.

Other reasons included concerns over mileage (11%), the cost of installing a home charging device (4%) and high insurance costs (2%).

Of all engine types, insurance costs are usually highest for an electric vehicle, currently averaging around £996 annually—54% more expensive than the average petrol vehicle and 13% more expensive than last year.

While diesel and petrol insurance premiums look to be starting to decrease slightly throughout 2024 – electric premiums continue to remain high.

Type / Quarter	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2
Electric	£801	£884	£994	£992	£961	£996
Diesel	£580	£659	£756	£822	£786	£764
Petrol	£511	£569	£637	£717	£678	£647

Jan 2023 – June 2024

Electric vehicle owners will also be required to pay vehicle tax from April 2025 – currently, they are exempt.

Greg Wilson, CEO and electric car insurance expert at Quotezone.co.uk, said: “These findings highlight a significant reluctance amongst UK motorists to transition to electric vehicles despite the fast-approaching deadlines.

“The hesitation is understandable, based on the cost of electric vehicles and the current charging infrastructure.

“The average new electric car in the UK is estimated to cost around £50,000, over £10,000 more than the average medium-sized petrol car such as a Ford Focus.

“There are additional costs, including higher insurance premiums and vehicle tax.

“The challenge over the coming decade will be addressing these concerns and supporting motorists in the transition to electric vehicles.

“The future of motoring is electric, but we have some way to go before we achieve the ambitious targets that have been set.”