EV insurance in Australia costs $2,100 yearly—$500 more than hybrids—raising total ownership costs.

Electric vehicle insurance in Australia averages $2,100 annually—$500 more than hybrids—according to a recent analysis, with experts warning consumers could pay thousands extra over time without comparing rates. The financial edge of EVs may shrink further if the Albanese government implements a road-user charge to replace fuel excise, which currently exempts EVs from fuel taxes. Despite lower fuel and maintenance costs, rising insurance premiums and potential new fees underscore the need for careful evaluation of total ownership expenses.