electric car charging with gradient

The cost of owning an electric car

5 min

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Are they cheaper than petrol and diesel vehicles?

On average, electric cars are better value than petrol and diesel options and these savings are mainly driven by lower running costs. This was one of the findings of the ‘Electric Car Cost Index’ analysis, undertaken in 2021 by LV= General Insurance in partnership with consultant battery electrochemist Dr. Euan McTurk of Plug Life Consulting. 

The LV= ‘Electric Car Cost Index’ looked at the purchase, financing and running costs for nine electric cars and compared those with their petrol and diesel equivalents, including:

  • Car tax
  • Fuel
  • Insurance and maintenance costs
  • Congestion charges


Get the lowdown on the full study by reading our press release or downloading our Electric Car Cost Index.

Electric Car Cost Index

Did you know our LV= exclusive network of recommended repairers has been heavily investing in equipment, technology and training on Electric Vehicles?

Find out why our dedicated sole sites are a unique selling point to your customers. 

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