Mercury Names the Most Affordable 2023 Electric Vehicles to Insure

Rhea-AI Summary

Mercury Insurance has compiled a list of the most affordable new EVs to help consumers save money on insurance. The list includes Kia Soul EV, Nissan Leaf, Ford F-150 Lightning, Hyundai IONIQ, Volvo C40 Recharge, Volvo XC40 Recharge, Mazda MX-30, Chevrolet Bolt EV, and Volkswagen ID.4.

Positive

• Mercury Insurance offers a discount on EVs in 10 out of 11 states it operates in.

Negative

• None.

Kia Soul EV tops the list for the second consecutive year

LOS ANGELES, July 31, 2023 /PRNewswire/ -- The number of electric vehicles (EVs) available on the marketplace continues to grow and the cost of insuring an EV is a burgeoning factor for consumers. According to industry reports, the number of currently available and soon-to-launch EV models is increasing from 27 as of January '21 to 53 early this year. Mercury Insurance (NYSE: MCY), a leading auto insurer in California 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 2023 model year electric vehicles available at car dealerships today to compile the list¹.

"EVs are growing on consumers and many are considering one as their next vehicle," said Mercury Insurance Director of Product Management R&D Chong Gao. "One of the most important aspects of ownership that needs to be considered is the cost of insuring an EV. This cost can make up a significant portion of owning one and Mercury provides an EV discount in most of the states it operates in."

Mercury is proud to offer a discount on EVs in 10 of the 11 states it offers personal auto insurance.

The list of 2023 electric vehicles, beginning with the most affordable make and model to insure is:

• Kia Soul EV
• Nissan Leaf
• Ford F-150 Lightning
• Hyundai IONIQ
• Volvo C40 Recharge
• Volvo XC40 Recharge
• Mazda MX-30
• Chevrolet Bolt EV
• Volkswagen ID.4
• (a tie at 10^th) Audi Q4 E-Tron, Ford Mustang Mach-E, Kia EV6, Mercedes EQB and Polestar 2

About Mercury Insurance

Mercury Insurance (NYSE: MCY) is a multiple-line insurance carrier predominantly offering personal auto, homeowners and renters 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 ultracompetitive 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 California driver with average factors for each rating element. 

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SOURCE Mercury General Corporation

FAQ

What is the list of the most affordable new EVs compiled by Mercury Insurance?

The list includes Kia Soul EV, Nissan Leaf, Ford F-150 Lightning, Hyundai IONIQ, Volvo C40 Recharge, Volvo XC40 Recharge, Mazda MX-30, Chevrolet Bolt EV, and Volkswagen ID.4.

Does Mercury Insurance offer a discount on EVs?

Yes, Mercury Insurance offers a discount on EVs in 10 out of 11 states it operates in.