With Electric Vehicle (EV) ownership increasing as the 2030 ban on new petrol and diesel vehicles gets closer, new research reveals that EVs are most popular amongst drivers in Reading. The research from MoneySuperMarket reveals the Berkshire-based town has the highest number of insurance enquiries for EVs than anywhere else in the UK, at 2,016 per 100,000 people in the town in the past year. This was 8% higher than Guildford (1,866 enquiries for every 100,000 people), which took second place.
Other locations featuring in the top 5 list were Stevenage, Watford and Chelmsford. On the other end of the scale, EVs are least popular amongst drivers in Sunderland, with only 101 enquiries per 100,000 people in the past year.
Looking at typical professions for EV drivers, 10.2% of all car insurance enquiries are for retirees, indicating that most EVs are owned by those no longer working. This is almost twice as much as NHS workers (5.9%), who are the second most likely to own an EV.
Over the last year, four-fifths (80%) of all enquiries for EVs were for vehicles worth over £20,000, while just 6.4% were for vehicles in the £5,000-£14,999 bracket. This puts the majority of EVs in the highest value band for car insurance. Despite the considerable cost of EVs, the data shows that three out of the 10 most popular occupations for EV drivers were from those who are not currently in work (retirees, students and homemakers).
Sara Newell, MoneySuperMarket’s car insurance expert said: “It’s great to see electric car ownership on the rise as more people make the change from petrol or diesel cars. Electric cars and vans have often been more expensive to insure than petrol or diesel vehicles because of the cost and availability of spare parts, and the common need for specialist repair works. But as more electric vehicles come onto the market, and with the government’s 2030 impending ban on new petrol and diesel cars, the cost of insurance is falling.
If you’re making the change to an electric car, make sure you use a price comparison tool, like MoneySuperMarket, to get the best deal on insurance.”
