2026 Electric Vehicle Insurance Cost Rankings: Chevrolet Blazer EV and Equinox EV Make the List

Insurance Costs Emerge as Key Factor in Vehicle Selection

As the electric vehicle market continues to grow, insurance costs have become a critical consideration for consumers when purchasing a car. Mercury Insurance recently released its 2026 rankings of the 10 most affordable electric and hybrid vehicles to insure. Two all-electric Chevrolet models, the Blazer EV and Equinox EV, secured the second and ninth spots, respectively, indicating that some electric vehicles now have insurance costs comparable to traditional models. Hybrid vehicles dominate the list, occupying eight of the top 10 positions, demonstrating their continued advantage in insurance affordability.

Chong Gao, Director of Research and Development at Mercury Insurance, stated that electric vehicles have increasingly become mainstream transportation options. Consumers evaluating vehicles should consider insurance costs alongside charging convenience, driving range, and fuel savings. He emphasized that insurance expenses directly impact the total cost of vehicle ownership, making it essential for buyers to assess these costs carefully before making a purchase.

Improving Insurance Cost Structure for Electric Vehicles

Mercury Insurance’s research team analyzed insurance cost data for model years 2025 to 2027 and found that the insurance expenses for electric and hybrid vehicles are influenced by multiple factors, including repair costs, replacement part expenses, safety technology features, and historical claims records. These factors are fundamentally similar to those affecting traditional gasoline-powered vehicles. While electric vehicles still generally have higher insurance costs than some conventional models, the data indicates an improving trend.

According to data from the National Association of Insurance Commissioners (NAIC), the average insurance cost for electric vehicles is $49 higher per month than for SUVs. However, research by the Highway Loss Data Institute (HLDI) shows that electric vehicles have lower claim frequencies than comparable gasoline-powered vehicles. Additionally, the gap in average total-loss claim payments between electric and gasoline vehicles is narrowing each year. This suggests that the insurance cost structure for electric vehicles is improving, though variations across different models and regions should still be considered.

Strong Performance of Chevrolet’s Electric Vehicles in Insurance Costs

In Mercury Insurance’s rankings, Chevrolet’s Blazer EV and Equinox EV ranked second and ninth, respectively, highlighting the brand’s progress in managing insurance costs for electric vehicles. The Blazer EV trails only an undisclosed hybrid model, while the Equinox EV’s insurance costs are lower than those of most comparable electric vehicles. This outcome reflects Chevrolet’s optimization of electric vehicle technology and repair systems, which helps reduce insurance expenses.

While hybrid vehicles still hold an advantage in insurance affordability, the insurance costs for electric vehicles are gradually improving. HLDI data indicates that the claims performance of electric vehicles has improved, likely due to advancements in electric vehicle technology and the expansion of repair networks. Mercury Insurance advises consumers to evaluate insurance costs, charging convenience, driving range, and fuel savings comprehensively when purchasing an electric or hybrid vehicle, rather than focusing solely on the purchase price.

It is worth noting that the NAIC and HLDI data do not specify the sample scope or timeframe, so the $49 monthly insurance cost difference may not apply universally across all regions or insurance providers. Additionally, Mercury Insurance’s rankings do not disclose specific evaluation criteria, such as whether vehicle safety ratings, repair network density, or claims history were considered, relying instead on internal data analysis. This makes it necessary for consumers to carefully assess relevant information when comparing insurance costs across different models.

Overall, these rankings highlight that electric vehicle insurance costs are moving toward greater reasonableness, though hybrid vehicles remain the more cost-effective option for now. As electric vehicle technology continues to advance and repair systems become more robust, the insurance cost gap between electric and traditional vehicles is expected to narrow further, offering consumers more diverse choices.

2026 Rankings Revealed: Electric and Hybrid Vehicle Insurance Costs, with Two Chevrolet Models in Top 10

Insurance Costs Emerge as Key Factor in Vehicle Selection

Improving Insurance Cost Structure for Electric Vehicles

Strong Performance of Chevrolet’s Electric Vehicles in Insurance Costs

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