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Typically, the cheaper a vehicle is, the lower the insurance premium will be for a driver. As the driver gets older and time goes by without any traffic tickets or accidents, insurance premiums are bound to get more affordable. When new vehicle buyers are searching for their next car, gas-powered or EVs, insurance premiums rarely have a large factor in the vehicle that is ultimately purchased. But, regarding the hot electric vehicle market in the near future, Forbes has curated a list of the cheapest EVs to insure for the average driver. 

1. Mini Cooper SE

The Mini Cooper SE is the all-electric version of the famous Mini Cooper. While the Mini Cooper SE is an all-electric subcompact, it is no slouch, producing an impressive 181 horsepower and a 114-mile range on a full charge. The Mini Cooper SE starts at $34,225 MSRP, and according to Forbes, costs around $1,479 EV insurance annually.

2. Hyundai Kona SEL

The next of the cheapest EVs, the Hyundai Kona, a subcompact crossover SUV that is produced in both gasoline and electric-powered variants. The Hyundai Kona SEL EV is a well-equipped subcompact SUV that offers plenty of room with tech-savvy standard features such as Apple CarPlay and Android Auto paired with an 8-inch touch screen. This EV boasts a 258-mile range on a full charge and produces just over 200 horsepower out of its electric motor. The Kona SEL EV starts at $34,000 MSRP and costs just a bit more to insure annually than the Mini Cooper SE at $1,498.

3. Hyundai Kona Limited

While nearly identical to the Kona SEL, the Kona Limited takes the already impressive Hyundai Kona and adds some features typically only found in luxury EVs: adaptive cruise control, leather-trimmed seats, heated front seats, ventilated front seats, and a heated steering wheel. The touchscreen also gets an upgrade ditching the 8-inch touchscreen from the SEL and replacing it with a vibrant 10.25-inch one.

This subcompact crossover’s range and power are identical to the SEL. However, with all of these added features, the model increases to $42,500 MSRP, and the price to insure also gets increased to $1,534 annually.

4. Kia Niro EV EX

The Niro EV comes in two trim levels with the EX acting as the base model. It boasts a 239-mile range on a full charge and makes around 200 horsepower from its electric motor. The Niro EV EX comes with a ton of standard features including a 10.25-inch touchscreen with Apple CarPlay and Andriod Auto, heated front seats, wireless smartphone charging, push-button start, lane keeping assist, adaptive cruise control, blind spot collision warning, just to name a few.

The Niro EV EX starts at $39,990 MSRP and costs around $1,577 annually to insure.

5. Kia Niro EV EX Premium

2023 Kia Niro EV, one of the cheapest EVs
2023 Niro EV | Kia

Unsurprisingly, the Kia Niro makes this list again in its upgraded Premium trim level. The Niro EX Premium trim takes the name Niro EX and adds a power sunroof and ventilated front seats. Other than these few new features, little changed from the EX to the EX Premium. Due to these upgrades, there is an increase to $44,650 and the cost to insure annually is $1,687.

These cheapest EVs have different prices and different costs to insure, per Forbes. At the end of the day, you would need to find the ideal car and trim level that has all of the features you need in a daily driver.


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