Comparison of the cost of insurance according to fuel types
To understand which type of car costs the least to insure, we studied data from LeLynx.fr on insurance premiums.Car Insurance in 2022 and 2023. On a sample of 795,064 auto insurance premiums in 2022 and 451,175 premiums in 2023, we identified clear trends in the cost of insurance depending on the fuel used. What do we notice?
Generally speaking, electric cars clearly seem to have lower insurance premiums than gasoline or diesel cars. In 2022, for example, the average premium for an electric car was 579 euros per year, while it rose to 660 euros for a gasoline car and 686 euros for a diesel car. In 2023, these figures saw a slight increase, but the general trend remains the same. Clearly, electric cars are the least expensive in terms of insurance.
What type of car costs the least depending on the level of coverage?
To answer this question, the insurance comparator LeLynx.fr collected results on a sample of 795,064 car insurance premiums generated by LeLynx.fr users during the whole of 2022, as well as than out of 451,175 automobile insurance premiums generated during the year 2023.
Based on this data, here is the average cost of insurance premiums for different fuel types and coverage levels:
For Diesel cars:
- Third-party car insurance: €553 (16% cheaper than the average car insurance premium)
- Intermediate car insurance: €615 (6% cheaper than the average car insurance premium)
- All risks: €757 (15% more expensive than the average car insurance premium)
For Electric cars:
- Third party: €438 (33% cheaper than the average car insurance premium)
- Intermediate: €576 (12% cheaper than the average car insurance premium)
- All risks: €622 (5% cheaper than the average car insurance premium)
For Petrol cars:
- Third party: €528 (19.6% cheaper than the average car insurance premium)
- Intermediate: €605 (8% cheaper than the average car insurance premium)
- All risks: €758 (15% more expensive than the average car insurance premium)
As a reminder, the cost of car insurance depends, among other things, on the level of coverage chosen. Therefore, drivers who opt for comprehensive coverage will generally pay higher premiums than those who choose third-party coverage.
It seems that, in general, insurance premiums for electric cars tend to be lower than those for Diesel and Petrol cars, especially for third party cover. However, premiums for comprehensive coverage are higher for electric cars than for other types of fuel.
The differences between petrol, diesel and electric vehicles compared to the average premium
To highlight potential savings, we also looked at deviations from the average premium. And the observation is the following.
- In 2022, electric car drivers have, on average, saved 81 euros per year compared to the average premium. In addition, drivers of gasoline cars paid 81 euros more than the average. As for drivers of diesel cars, they had to pay 107 euros more than the average.
- In 2023, savings for electric car drivers will increase slightly to 85 euros per year compared to the average premium. Drivers of gasoline cars paid 84 euros more than average, while drivers of diesel cars paid 104 euros more than average.
Once again, electric cars are proving to be much less expensive than gasoline cars and diesel models.
In short, data from LeLynx.fr shows that electric cars tend to cost less to insure than gasoline or diesel cars. This trend continues
over the years 2022 and 2023, regardless of the level of coverage chosen. Furthermore, drivers of electric cars can make substantial savings on their insurance premium, which can help make these vehicles more financially attractive.
However, you should note that the cost of car insurance is influenced by many factors including the specific model of the car, geographical location, driving history of the driver, etc. Therefore, you should compare insurance offers from different companies to find the best deal for your individual situation.
To find out more about car insurance and compare prices, you can visit the Lelynx.fr website. Remember to do insurance comparisons regularly to ensure you’re getting the best coverage at the best price.