10 of the Cheapest Electric Cars To Insure

7 minutes Published: 15/02/2022
Rowan Harris

Electric cars aren’t cheap. The last thing you want is to be paying through the nose for insurance too (hint: electric car insurance isn’t cheaper). 

But that doesn’t mean you have to sit out on the ‘green revolution’. In this article, we round up the 10 cheapest electric cars to insure!

If you’re getting ready to buy your first EV, electric car insurance costs can come as a bit of a shock. Don’t worry - you can save money by comparing electric car lease deals from leasing brokers across the UK with Lease Fetcher.

Electric Car Insurance Groups Explained

So you understand why these cars are on this list, we’ll give you a quick refresher on how car insurance works, or more specifically, how insurance groups work. 

There are 50 insurance groups in total (numbered 1-50) and each insurance group rating is accompanied by a letter. 

Group 1 is the lowest insurance group (and the cheapest to insure) while Group 50 is the highest risk and most expensive to insure. Groups are decided based on several factors, including: new car values, parts and repair prices, repair times, safety features, and car performance.

The letter that follows the number refers to the number of security features fitted to the vehicle as standard. The higher the insurance group, the more security features are expected to be fitted as standard. If your car exceeds, or fails to meet, the security feature requirements for its insurance group, then its insurance group is modified. 

Of the six security ratings, the four most relevant are explained below:

  • E - Your vehicle exceeds the security criteria and has had its rating upgraded. A group 11 car that features outstanding levels of security will be upgraded to 10E.  
  • A - Your car has an acceptable level of security features. 
  • P - This means ‘provisional’. Your car may be new and there is insufficient data available. 
  • D - Your vehicle does not meet the required security standard. A group 30 car would be downgraded to 31D.  

1. Smart Forfour

From £293.68 per month to lease
  • Doors: 5
  • Engine: N/A
  • Fuel: E
  • Body: Hatchback
  • Drive: A
  • CO2:

The Smart EQ ForFour is the new all-electric four-seater from Smart. It’s one of the best cars for urban dwellers: small, manoeuvrable, and with a recent trendy facelift. 

Sitting in insurance group 10E, it’s also one of the cheapest to insure. This is thanks in large part to it also being one of the cheapest electric cars on sale.

How is it so cheap, you ask? The Smart EQ ForFour is designed for city driving only. Its maximum range is less than you’d find on the original Nissan Leaf (only 78 miles) - that amounts to some fairly large savings in the battery department!

2. Volkswagen e-UP

From £262.21 per month to lease
  • Doors: 5
  • Engine: N/A
  • Fuel: E
  • Body: Hatchback
  • Drive: A
  • CO2:

The Volkswagen Up! is a no-nonsense city car that mastered the art of urban driving. The e-Up! does one better. With electric power, regenerative braking, and nippy acceleration, the e-Up! Is practically made for the city, thanks to its high efficiency and zero tailpipe emissions. An electric range of 159 miles means it's also good for some longer journeys, too.

The e-Up! falls under insurance group 10E which makes it one of the cheapest cars to insure. 

It’s not hard to see where savings have been made - the on-board infotainment system is literally your smartphone. But when you consider the extra range offered over the ForFour, it’s definitely worth considering. 

3. Fiat 500 Electric Hatchback

From £287.70 per month to lease
  • Doors: 3
  • Engine: N/A
  • Fuel: E
  • Body: Hatchback
  • Drive: A
  • CO2:

The New Fiat 500 electric and Fiat 500 electric convertible keep that classic Fiat 500 look, with new split headlights and colours ‘inspired by nature’ for a subtle yet recognisable update.

The 500 Electric also has multiple trim-levels and battery sizes available. The larger 42kWh battery brings a greatly improved range of 199 miles on a single charge and promises ‘a day’s worth of driving’ (30 miles) in just 5 minutes of 85kW rapid charging.

However, the entry-level 24kWh battery trim is more than competent for city driving and will give you the cheapest insurance options, as it sits in insurance group 14P

4. Renault ZOE

From £310.80 per month to lease
  • Doors: 5
  • Engine: N/A
  • Fuel: E
  • Body: Hatchback
  • Drive: A
  • CO2:

So far, all the cars on this list have been based on conventionally-fueled models. Not so with the Renault Zoe, which was designed from the ground up to be electric - even if its decidedly run-of-the-mill design doesn’t scream it. 

There’s a lot to love about the Renault Zoe, whether that is its electric range of 239 miles, or the ability to use 50kW CCS DC rapid charging (available on the S Edition), which will see you from 0-80% charge in 70 minutes.

So, what’s the price for all these goodies? As one of the cheaper EVs on the market, it also sits in one of the lowest insurance groups: 18E

5. Mini Electric Hatchback

  • Doors: 3
  • Engine: N/A
  • Fuel: E
  • Body: Hatchback
  • Drive: A
  • CO2:

The Mini Hatchback is one of the world’s most desirable small cars, with a timeless design that’s now been updated for an all-electric drivetrain. 

The Mini Electric has a 32kWh battery which will get you 145 miles on a single charge. It’s a modest range, but more than enough for inner-city driving. 

Safety features aren’t particularly generous as standard. You’ll want to upgrade to ‘Level 2’ for automatic emergency braking (AEB). However, the Mini Electric is still one to consider if you’re looking for cheaper insurance as it sits in the fairly reasonable insurance group 18E.

6. Nissan Leaf

From £337.63 per month to lease
  • Doors: 5
  • Engine: N/A
  • Fuel: E
  • Body: Hatchback
  • Drive: A
  • CO2:

The Nissan Leaf was a pioneer in the world of electric cars, and it remains to this day one of the most popular EVs in Britain. Low insurance costs have no small part to play in this, as the 40kWh version lies in insurance group 18E

All Leafs pack automatic emergency braking (AEB) with pedestrian detection as standard, along with lane departure warning, blind-spot monitoring, and rear cross traffic alert. A 5 star Euro NCAP rating helps to keep insurance costs down and provide additional peace of mind. 

After factoring in the Plug-in Car Grant, the Nissan Leaf is also one of the most affordable EVs on sale, competing with the MG ZS EV, MG5 and Renault Zoe

What’s more, the 40kWh battery pack offers enough range for city driving: 168 miles on a single charge. There’s always room to upgrade to a 62kWh battery offering 239 miles if you need it. 

7. Mazda MX-30 Hatchback

From £284.75 per month to lease
  • Doors: 5
  • Engine: N/A
  • Fuel: E
  • Body: SUV/Crossover
  • Drive: A
  • CO2:

The MX-30 is Mazda’s first foray into electric vehicles. It’s also rather cheap to insure, being located in insurance group 19E

The most obvious reason for this is its tiny battery pack. Though it saves on weight and reduces costs, it’s only good for 124 miles between charges, making its claimed 36 minute ‘rapid charge’ decidedly less impressive. 

More reassuring, perhaps, is that it's also the first Mazda to achieve a five star Euro-NCAP rating under the new, more stringent ratings introduced in 2020. 

As standard, MX-30 owners get Driver Attention Alert, Blind Spot Monitoring with Rear Cross Traffic Alert (ideal when reversing out of a parking space or driveway), Emergency Lane-Keeping Assistance and Lane Departure Warning.

8. Volkswagen ID.4

From £343.42 per month to lease
  • Doors: 5
  • Engine: N/A
  • Fuel: E
  • Body: SUV/Crossover
  • Drive: A
  • CO2:

The Volkswagen ID.4 is one of the most recent cars to enter the electric SUV scene. It’s at the pricier end of the spectrum and no longer eligible for the Government grant for electric cars (PiCG) - but thanks to its impressive array of safety features and two-tiered battery set up, you’ll still be able to insure one on the cheap. 

The ID.4's list of standard safety features includes automatic emergency braking (AEB), lane-keeping assistance, a driver fatigue monitor, eCall emergency response and traffic sign recognition.

Meanwhile, the entry-level 52kWh battery on the ‘Pure’ trim has an official range of up to 213 miles. Although the Pro and GTX models come with a 77kWh battery that’s good for 324 miles on a single charge, the Pure trim still has 118kW rapid charging capabilities - always handy if you do decide to put its range to the test. 

Best of all, the Id.4 still slots into one of the most competitive insurance brackets: 18P

9. Kia e-Niro

  • Doors:
  • Engine:
  • Fuel:
  • Body: SUV/Crossover
  • Drive:
  • CO2:

The Kia E-Niro may not have been designed from the ground-up as an EV, but that has its advantages. The Kia E-Niro shares many of its parts with the Hyundai Ioniq Electric, and is part of the wider Kia Niro range. This means it's easier to get hold of parts, and insurance is cheaper too.

It’s also one of the best EVs on the market. The entry-level 39kWh battery pack provides 180 miles of range, though if you’re looking for something more generous, the 64kWh version offers 282 miles between charges.

Predictably, there’s huge savings to be made by opting for the smaller battery, which cuts its RRP and places the car in insurance group 20A. Plump for the bigger battery, and this rises to insurance group 26. Luckily, both come with 100kW DC rapid charging as standard, enabling a 0-80% charge in 54 minutes so you’ll never be off the road for too long. 

10. Hyundai Kona Electric

  • Doors:
  • Engine:
  • Fuel:
  • Body: SUV/Crossover
  • Drive:
  • CO2:

The Hyundai Kona Electric has recently been refreshed with more equipment and a sharper exterior. Despite this, the Kona Electric’s insurance costs remain attractive as ever, with the entry-level 39kWh Kona electric sitting comfortably in insurance group 20.

This is in part due to its impressive array of safety features known as Hyundai SmartSense, part sharing with other cars in the Kona range, and its low price point. 

Unlike the E-Niro, the Kona Electric is also still eligible for the Plug-in-Car Grant. The similarly-sized 39kWh Kia e-Niro is now just above the threshold, but a Kona Electric 39kWh is still on the approved list of models for the PiCG. This makes it a great choice for prospective EV owners looking for a family car on a budget.

Conclusion

Electric cars aren’t cheap - and that’s before we even get to insurance. 

Buying a cheaper electric car is one of the best ways to save on insurance. You can check out our list of the best small electric cars for some inspiration!

But there are other ways to cut costs with an EV, too. For example, electric car maintenance costs are lower, and manufacturers like Tesla don’t even mandate electric car servicing!

To keep the costs down, make sure you compare electric car lease deals with Lease Fetcher. We bring you the best and most up-to-date deals on EVs from leasing brokers across the UK!