Mercury Insurance Names the Most Affordable New Electric Vehicles to Insure

Rhea-AI Summary

Mercury Insurance, listed as MCY, has released a report highlighting the most affordable new electric vehicles (EVs) to insure for the 2022 model year. The report indicates a growing interest in EVs among consumers, with 22.9% of surveyed drivers considering purchasing one. The Kia Soul EV tops the list, followed by models like the Nissan Leaf and Hyundai Ioniq. Mercury emphasizes the importance of considering insurance costs while buying an EV, offering discounts in 10 states where they operate. For more details, visit Mercury Insurance.

Positive

• Kia Soul EV ranked as the most affordable EV to insure in 2022.
• Mercury Insurance offers discounts on EVs in 10 of the 11 states where it provides auto insurance.
• Rising consumer interest in EVs, with 22.9% of surveyed drivers considering a purchase.

Negative

• None.

Kia Soul EV tops the list for 2022

LOS ANGELES, March 15, 2022 /PRNewswire/ -- More consumers are looking to buy an electric vehicle (EV) now than ever before. Studies have shown that when asked about over 33,000 licensed U.S. drivers, 22.9% of respondents would consider purchasing an electric vehicle as a new or used car. Mercury Insurance (NYSE: MCY), a leading auto insurer in California, the car capital of the U.S., and provider of auto insurance in 10 other states, has put together a list of the most affordable new EVs to help consumers save them money on insurance.

Mercury's research and development team examined 2022 model year (MY) electric vehicles that are available at car dealerships today to compile this list¹.

"Electric vehicles are appealing to consumers for a number of reasons," said Mercury Insurance Director of Product Management R&D Chong Gao. "Many consumers are drawn to EVs due to their concern for the environment and their desire to cut down on their carbon footprint. Lower operating costs and the convenience to charge their car at home, work, or while running errands were also cited as benefits. Before purchasing an EV, consumers should consider the cost of insurance. Mercury also offers a discount on EVs in 10 of the 11 states where it provides personal auto insurance."

Here is the list of 2022 electric vehicles, beginning with the most affordable make and model to insure:

• Kia Soul EV
• Nissan Leaf
• Hyundai Ioniq
• Mazda MX-30
• Chevrolet Bolt EV
• BMW i4
• Kia EV6
• Audi Q4 E-Tron
• Ford Mustang Mach-E
• Honda Clarity
• Volvo XC40 Recharge
• Jaguar I-Pace
• BMW ix xDrive50
• Mercedes EQS 450+
• Porsche Taycan
• Tesla Model Y
• Tesla Model 3

Visit www.mercuryinsurance.com to see more of Mercury's most affordable vehicle lists.

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, Illinois, Georgia, 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 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 ultracompetitive rates with excellent customer service. Mercury has earned "A" ratings from A.M. Best and Fitch, as well as ranking highest in the J.D. Power 2021 U.S. Insurance Digital Experience Study^SM and four consecutive "Best Auto Insurance Company" awards from 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 California driver with average factors for each rating element. 

 

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SOURCE Mercury Insurance

FAQ

What is the most affordable electric vehicle to insure according to Mercury Insurance?

The most affordable electric vehicle to insure is the Kia Soul EV.

What percentage of U.S. drivers are considering purchasing an electric vehicle?

According to the survey, 22.9% of U.S. drivers would consider purchasing an electric vehicle.

In how many states does Mercury Insurance offer EV discounts?

Mercury Insurance offers discounts on electric vehicles in 10 states.

Which electric vehicles are listed as affordable by Mercury Insurance?

Other affordable electric vehicles include the Nissan Leaf, Hyundai Ioniq, and Chevrolet Bolt EV.

When was the Mercury Insurance report on affordable EVs released?

The report was released on March 15, 2022.