Mercury Insurance Names the Most Affordable New EVs to Insure

Rhea-AI Summary

Mercury Insurance (NYSE: MCY) has released a list of the most affordable new electric vehicles (EVs) to insure for 2024 models. This information is particularly valuable for consumers in California, where EV demand is high. The list considers factors such as claims history, repair costs, and vehicle safety records.

The top 10 most affordable EVs to insure, starting with the most cost-effective, are:

• Nissan Leaf
• Ford F-150 Lightning
• Kia Niro
• Hyundai IONIQ (all models)
• Volvo C40/XC40 Recharge
• Chevrolet Equinox EV
• Fiat 500e
• Subaru Solterra/Toyota BZ4X/Fisker Ocean Sport
• Volkswagen ID.4
• Genesis G80

Mercury Insurance emphasizes the importance of considering the total cost of ownership, including insurance, when shopping for an EV.

Positive

• Mercury Insurance provides valuable information for consumers considering EV purchases
• The list helps customers make informed decisions about the total cost of EV ownership
• Mercury Insurance demonstrates expertise in the growing EV market

Negative

• None.

Three Hyundai Motor Group Products Make This Year's List

LOS ANGELES, Aug. 5, 2024 /PRNewswire/ -- Due to the growing demand for electric vehicles, particularly in California, Mercury Insurance (NYSE: MCY) has compiled a list of the most affordable new EVs to insure, which will arm consumers with valuable knowledge when they go to shop for an EV. 

Factors contributing to insurance costs include claims on similar vehicles, cost to repair and vehicle safety records. Mercury's research and development team examined 2024 model-year EVs that are available at dealerships today to compile this list.¹

"One of the most important aspects when researching your ideal EV is to consider the total cost of ownership, in which insurance plays an important part," said Chong Gao, Director of Product Management R&D for Mercury Insurance. "We realize that for many customers this may be their first time considering an EV and it helps to have as much information as possible."

The top 10 list for new EVs, beginning with the most affordable make and model to insure is:

• Nissan Leaf
• Ford F-150 Lighting
• Kia Niro
• Hyundai IONIQ (all models)
• Volvo C40/XC40 Recharge
• Chevrolet Equinox EV
• Fiat 500e
• Subaru Solterra/Toyota BZ4X/Fisker Ocean Sport
• Volkswagen ID.4
• Genesis G80

Headquartered in Los Angeles, Mercury Insurance provides auto, homeowners and business insurance through more than 4,700 employees and a network of more than 8,000 independent agents in 11 states.

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, 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 ultra competitive 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 driver with average factors for each rating element.

 

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SOURCE Mercury Insurance

FAQ

What is the most affordable new EV to insure according to Mercury Insurance's 2024 list?

According to Mercury Insurance's 2024 list, the Nissan Leaf is the most affordable new EV to insure.

How many vehicles are included in Mercury Insurance's (MCY) list of most affordable new EVs to insure?

Mercury Insurance's list includes the top 10 most affordable new EVs to insure for the 2024 model year.

What factors does Mercury Insurance (MCY) consider when determining the most affordable EVs to insure?

Mercury Insurance considers factors such as claims history on similar vehicles, cost to repair, and vehicle safety records when determining the most affordable EVs to insure.

Which Hyundai Motor Group products are included in Mercury Insurance's 2024 list of affordable EVs to insure?

The Hyundai Motor Group products included in the list are the Kia Niro, Hyundai IONIQ (all models), and Genesis G80.