Moneysupermarket has identified the Renault 5 as the UK’s cheapest electric vehicle to insure, according to new data from the insurance comparison specialist.
The French supermini costs more than £500 less per year to insure than the nation’s most expensive EV – the Jaguar I-Pace.
Moneysupermarket analyzed policies sold through its platform during the first five months of this year. The study reveals which EVs carry the lowest and highest insurance premiums.
Tesla Dominates Most Expensive List
Tesla continues facing high insurance costs across its range.
Variants of the company’s two bestselling models account for half of the 10 most expensive EVs to insure.
The data shows average EV premiums are dropping overall – from £587 in October 2025 to £561 in May 2026.
Cheapest EVs to Insure
The Renault 5 leads with an average annual premium of £418.
The Mini Cooper S Level 2 follows closely at £445 per year. Its higher-spec Level 3 variant costs an additional £41 annually.
Between these Mini models, the Volkswagen ID.3 Life slots in at £477. The Nissan Leaf Tekna rounds out the top five cheapest at £487.
None of the 10 cheapest EVs triggers the Expensive Car Supplement. This £440 annual tax applies to any EV priced over £50,000.
Premium EVs Face Higher Costs
Half of the most expensive EVs to insure also attract the ECS – pushing running costs higher.
Jaguar’s I-Pace proves costliest to insure this year, averaging £921 annually.
Tesla’s Model Y Long Range AWD comes second at £895. The Model Y Standard Range takes third place at £878.
Mercedes’ previous-generation GLC sits fourth with average premiums of £872. Tesla’s Model 3 Standard Range Plus completes the top five at £868.
“Whilst some EV drivers will now pay less than they would have done a few months ago, others are paying more,” said Alicia Hempsted, car insurance expert at MoneySuperMarket.
Hempsted described falling EV premiums and recent vehicle tax changes as making running costs “a moving target.”
She highlighted how the Renault 5, Mini Cooper Electric, and VW ID.3 all cost under £550 annually to insure while avoiding the Expensive Car Supplement.
“For households making the switch from a petrol or diesel hatchback, that is a genuinely compelling running-cost picture,” Hempsted noted.
Premium models tell a different story. The Jaguar I-Pace and Audi e-tron can cost almost £1,000 yearly to insure – plus the additional supplement.
The threshold rise has spared some mid-priced EVs that would previously have been included. But Hempsted emphasized drivers need to examine the complete cost picture before committing to any EV purchase.
