Compare the Market’s second hybrid and electric vehicle insurance index has revealed shocking quoted price differences between different car insurers, as the federal government considers an EV road user charge.
The bi-annual insurance index found that, on average, quoted car insurance premiums for low-emission vehicles in September remained steady with a reduction of less than 2% overall compared to March 2025.
However, the key surprises were in the price discrepancies between different insurance brands for a similar policy:
- BMW iX1: Up to $3,605 difference on average
- Tesla Model 3: Up to $2,509 difference on average
- Zeekr X: Up to $2,118 difference on average
- Toyota RAV4 Hybrid: Up to $1,698 difference on average
- Toyota Camry Hybrid: Up to $1,443 difference on average
- MG ZS Hybrid+: Up to $1,154 difference on average
Average quoted BEV insurance premiums
| Make & Model | September 2025 | March 2025 |
| Tesla Model Y RWD | $2,831.80 | $3,109.81 |
| Tesla Model 3 RWD | $2,986.69 | $3,334.04 |
| MG 4 Excite 51 | $1,342.00 | $1,645.74 |
| Kia EV5 Air Standard Range | $2,019.81 | $1,871.13 |
| BYD Sealion 7 Premium | $1,671.16 | $1,769.96 |
| BYD Dolphin Essential | $1,431.06 | $1,425.13 |
| Zeekr X RWD | $2,502.90 | $2,016.37 |
| Xpeng G6 Standard Range | $1,671.78 | $1,606.15 |
| Toyota bZ4X 2WD | $1,549.50 | $1,589.53 |
| BMW iX1 eDrive20 | $3,260.39 | $2,974.69 |
| ALL MODEL AVERAGE | $2,126.71 | $2,134.26 |
Average quoted HEV/PHEV insurance premiums
| Make & Model | September 2025 | March 2025 |
| Toyota RAV4 GX 2WD Hybrid | $1,832.77 | $1,772.86 |
| Toyota Crolla Ascent Sport Hybrid | $1,649.38 | $1,587.40 |
| Toyota Corolla Cross GX Hybrid | $1,517.71 | $1,479.85 |
| Hyundai Kona Hybrid | $1,168.27 | $1,471.19 |
| Hyundai Tucson Hybrid | $1,216.95 | $1,560.53 |
| Toyota Camry Ascent Hybrid | $1,872.68 | $1,819.18 |
| BYD Shark 6 Premium | $1,995.13 | $2,071.36 |
| BYD Sealion 6 | $1,622.42 | $1,473.21 |
| GWM Haval H6 Lux Hybrid | $1,681.20 | $1,643.76 |
| MG ZS Excite Hybrid+ | $1,677.77 | $1,619.98 |
| ALL MODEL AVERAGE | $1,623.43 | $1,649.93 |
The consumer comparison experts studied 20 popular and notable full battery-electric and hybrid electric vehicle models, across 12 insurers and six underwriters.
Compare the Market’s Economic Director David Koch said the EV insurance index reinforced the need to shop around, especially with a potential road user charge on the horizon.
“It’s just shocking – the quoted premium differences between insurers for a similar car insurance policy can be thousands for some models,” Mr Koch said.
“There can be a variety of risk-based reasons behind the big price discrepancies – including the higher cost for labour and specialised parts on electric vehicles – but it wouldn’t surprise me that their bottom line is another driving factor.
“This is exactly why shopping around is so important because Australians could be pouring thousands more on their bills than necessary.
“With electric car insurance costing around $2,100 on average and hybrid car insurance at about $1,600 on average, it still isn’t cheap with quoted premiums remaining steady compared to six months ago.
“Plus, with the government planning to impose a road user charge for EV owners in lieu of fuel excise tax, the potential charging cost savings today are being diminished. For now, the power is in consumers’ hands to shop around for insurance and other household bills.”
When referencing this research, please attribute: https://www.comparethemarket.com.au/car-insurance/
Disclaimers
Always read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) to check for the inclusions, exclusions and restrictions before purchasing and determine if the policy is suitable for you.
Comprehensive car insurance policies were quoted across 12 insurers and six underwriters for 10 popular and notable full battery-electric vehicle (BEV) models, and 10 popular and notable hybrid (HEV) and plug-in hybrid electric vehicle (PHEV) models. Not all insurers and products were available for all vehicles.
The latest-available models and entry-level variants were selected.
Premiums were quoted using Compare the Market’s car insurance comparison tool and other well-known insurance brands, based on a next-day 3 September 2025 commencement date.
Quotes obtained were averaged for each model, averaged overall for all 10 BEV and all 10 HEV/PHEV models, and the quote variance (difference between the cheapest and priciest) was also calculated for each model.
The annual comprehensive car insurance policies were based on a targeted $900 excess for a 34-year-old male living in Alderley, Brisbane (4051) with market value coverage. Where an insurer did not offer a $900 excess option, the closest amount within $100 was selected. Where an insurer did not offer the market value option, the default agreed value amount was used.
We assumed the owner drives up to 15,000km per year (for private use and/or commuting to work only) with a clean driving history, parks the vehicle in a garage, does not own a home, does not own another vehicle, and is employed full-time. All three vehicles had a white exterior colour, no pre-existing damage, and no options or modifications.
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For more information, please contact:
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