Mercury Insurance Names the Most Affordable New EVs to Insure

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Aug 05, 2024, 12:00 ET

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LOS ANGELES, Aug. 5, 2024 /PRNewswire/ -- Due to the growing demand for electric vehicles, particularly in California, Mercury Insurance (NYSE: MCY) has compiled a list of the most affordable new EVs to insure, which will arm consumers with valuable knowledge when they go to shop for an EV.

Factors contributing to insurance costs include claims on similar vehicles, cost to repair and vehicle safety records. Mercury's research and development team examined 2024 model-year EVs that are available at dealerships today to compile this list.¹

"One of the most important aspects when researching your ideal EV is to consider the total cost of ownership, in which insurance plays an important part," said Chong Gao, Director of Product Management R&D for Mercury Insurance. "We realize that for many customers this may be their first time considering an EV and it helps to have as much information as possible."

The top 10 list for new EVs, beginning with the most affordable make and model to insure is:

Nissan Leaf
Ford F-150 Lighting
Kia Niro
Hyundai IONIQ (all models)
Volvo C40/XC40 Recharge
Chevrolet Equinox EV
Fiat 500e
Subaru Solterra/Toyota BZ4X/Fisker Ocean Sport
Volkswagen ID.4
Genesis G80

Headquartered in Los Angeles, Mercury Insurance provides auto, homeowners and business insurance through more than 4,700 employees and a network of more than 8,000 independent agents in 11 states.

About Mercury Insurance
Mercury Insurance (NYSE: MCY) is a multiple-line insurance carrier predominantly offering personal auto, homeowners, renters and commercial insurance through a network of independent agents in Arizona, California, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas and Virginia, as well as auto insurance in Florida. Mercury writes other lines of insurance in various states, including commercial, business owners and business auto, landlord, home-sharing, ride-hailing and mechanical protection insurance.

Since 1962, Mercury has provided customers with tremendous value for their insurance dollar by pairing ultra competitive rates with excellent customer service. Mercury has earned "A" ratings from A.M. Best and Fitch, as well as "Best Auto Insurance Company" designations from Forbes and Insure.com. For more information visit www.MercuryInsurance.com or follow the company on Twitter or Facebook.

¹ Mercury Insurance developed the list based on full coverage premium (BI, PD, COMP, COLL, MP, UMBI
and UMPD) for a hypothetical driver with average factors for each rating element.

SOURCE Mercury Insurance