Guide
How much is EV insurance in Australia? Published survey figures
Short answer: in Compare the Market's March 2026 index, ten popular EVs averaged A$2,306 a year for comprehensive cover, up 10% on a year earlier. Model averages ranged from A$1,524 (MG4 Excite 51) to A$3,356 (Tesla Model 3 RWD), with the Tesla Model Y RWD at A$3,203. These are averages for one driver profile, not quotes. Your price depends on your age, postcode, history, excess and the cover you choose.
General information only, not insurance advice. We don't recommend any insurer. Every published figure below is linked with its date, and our own quotes are dated and explained.
General information, not tax advice. Rules change and your circumstances differ. Check the ATO sources linked here and speak to a registered tax agent or your employer's payroll team before you decide.
Survey 1: Compare the Market EV Insurance Index (March 2026)
Published: 9 April 2026 (Compare the Market).
Method: comprehensive quotes from 11 insurers (6 underwriters) for 10 battery EVs and 10 hybrids or plug-in hybrids, using entry-level variants, for a policy starting 5 March 2026. Driver: 34-year-old man, Alderley QLD (4051), clean history, garaged, up to 15,000 km a year for private use and commuting, employed full-time, doesn't own a home or another car. Target A$900 excess (nearest option where A$900 wasn't offered), market value. Not every insurer quoted every car.
| EV | March 2025 | March 2026 | Change |
|---|---|---|---|
| Tesla Model 3 RWD | A$3,257 | A$3,356 | +3% |
| Tesla Model Y RWD | A$3,039 | A$3,203 | +5% |
| BMW iX1 eDrive20 | A$2,777 | A$3,152 | +11% |
| Zeekr X RWD | A$1,831 | A$2,271 | +19% |
| Xpeng G6 Standard Range | A$1,610 | A$2,135 | +24% |
| Toyota bZ4X 2WD | A$1,601 | A$2,122 | +24% |
| Kia EV5 Standard Range | A$1,781 | A$1,921 | +7% |
| BYD Sealion 7 Premium | A$1,786 | A$1,795 | +0.5% |
| BYD Dolphin Essential | A$1,437 | A$1,578 | +9% |
| MG4 Excite 51 | A$1,592 | A$1,524 | −4% |
| Average, all 10 EVs | A$2,071 | A$2,306 | +10% |
Hybrids and plug-in hybrids in the same index averaged A$1,709 in March 2026, up from A$1,597.
A note on the March 2025 numbers. The March 2025 column above is how Compare the Market shows last year's figures in its 2026 release. They don't match its original March 2025 release, which put the Model Y RWD at A$3,109.81, the Model 3 RWD at A$3,334.04, the MG4 at A$1,645.74 and the 10-EV average at A$2,134.26 (Compare the Market, March 2025). Compare the Market's 2026 release doesn't explain the difference. We use the restated figures for year-on-year comparisons, so both years come from the same release.
Survey 2: one insurer's sales data (Youi, November 2025 to May 2026)
Youi publishes indicative ranges from comprehensive policies it actually sold between 22 November 2025 and 22 May 2026. These are figures from one insurer, not a market average, and not a recommendation. Youi says 80% of the premiums it sold for each model fell within or below the range shown. Ranges cover all its customers for that model (any age, location or excess), so they can't be compared directly with the single-profile surveys here.
| Model | Youi figure (comprehensive, per year) |
|---|---|
| BYD Atto 3 | A$988 to A$1,753 (range) |
| BYD Seal | A$1,692 to A$3,420 (range) |
| BYD Sealion 7 | A$1,194 to A$2,211 (range) |
| Tesla Model Y | A$1,542 to A$2,765 (range) |
| MG4 | A$1,768 (average) |
Sources: Youi BYD, Youi Tesla Model Y, Youi MG, all checked 23 October 2026.
Survey 3: Finder, Tesla models
Finder compared comprehensive quotes from 11 insurers (15 products). Averages: 2025 Model Y A$3,298.97, 2022 Model Y A$3,327.11, 2025 Model 3 A$3,363.01 and 2019 Model 3 A$3,400.61. Finder also says Model Y insurance costs 37% more than a typical petrol car (Finder, page updated 18 September 2026). Caveats: the page doesn't state when the quotes were taken, or the driver profile, postcode or excess.
Survey 4: Drive (2025)
Method: estimated 12-month comprehensive prices. Driver: 35-year-old man, Chatswood NSW, clear history, garaged, no finance owed, A$1,000 excess, market value. Drive says the prices are estimates only (Drive, 2025). These are older than the figures above, but they're the only published set we found that pairs each EV with a comparable petrol or hybrid car.
| EV | EV estimate | Comparable car | Its estimate |
|---|---|---|---|
| Tesla Model Y Long Range | A$2,552 | Toyota RAV4 Cruiser Hybrid | A$1,782 |
| Tesla Model 3 RWD | A$2,633 | Toyota Camry SL Hybrid | A$2,486 |
| MG4 64 Excite | A$2,042 | Toyota Corolla Ascent Sport Hybrid | A$1,842 |
| BYD Dolphin Dynamic | A$1,899 | Volkswagen Polo Style | A$1,613 |
| Hyundai Kona Electric SR | A$2,616 | Hyundai Kona Hybrid Premium | A$2,393 |
| Kia EV9 Air | A$2,197 | Toyota Kluger GR Hybrid | A$2,196 |
| BMW i4 35 | A$3,003 | BMW 430i Gran Coupé | A$3,027 |
| Mercedes-Benz EQA 250 | A$4,243 | Mercedes-Benz GLA 250 | A$2,630 |
In Drive's numbers, some EVs cost about the same as their petrol or hybrid equivalent (EV9, i4), while others cost much more (EQA, Model Y).
All cars, for context: Canstar 2026
Canstar's 2026 Star Ratings research (more than 56,000 quotes for new and used cars across a range of driver scenarios, with state target excesses of A$800–1,000) put the national average comprehensive premium at A$2,460, up A$111 (5%) on 2025. The average 5-star-rated policy cost A$1,809, a possible saving of A$651 from switching (Canstar, 28 May 2026).
| State or territory | Average comprehensive premium (2026) |
|---|---|
| Victoria | A$3,293 |
| New South Wales | A$2,792 |
| Northern Territory | A$2,577 |
| Western Australia | A$2,208 |
| Queensland | A$2,169 |
| South Australia | A$2,145 |
Source: Canstar, 28 May 2026. We've left out Tasmania because Canstar's pages give two different 2026 figures (A$2,014 and A$1,880). Canstar didn't publish an ACT figure.
Our own Model Y quotes (October 2026)
To see how much quotes vary in practice, we took comprehensive quotes for two Tesla Model Y variants from three insurers' own websites on 23 October 2026. We didn't add any optional extras. We used a fictional driver profile: man aged 36, clean record, licence held 10+ years, private use, 10,000–15,000 km a year, car garaged in a south-east Melbourne suburb (postcode 3162).
| Insurer | Model Y variant | Annual | Monthly | Excess | Basis |
|---|---|---|---|---|---|
| QBE | 2025 RWD | A$3,301.71 | A$317.53 | A$950 | Market value |
| AAMI | 2025 RWD | A$1,977.71 | A$198.60 | A$1,325 | Market value |
| Allianz (Comprehensive Essentials) | 2025 RWD | A$2,001.13 | A$166.77 | A$1,100 | Market value |
| QBE | 2026 Premium Long Range AWD | A$3,256.87 | A$313.23 | A$950 | Market value |
| AAMI | 2026 Premium Long Range AWD | A$2,099.23 | A$210.75 | A$1,325 | Market value |
| Allianz | 2026 Premium Long Range AWD | A$3,064.92 | A$255.41 | A$1,100 | Agreed value A$68,200 |
Notes on each quote, as shown on the insurers' sites on the day: - QBE: a hire car after a not-at-fault accident was included. - AAMI: A$1,325 was the lowest excess offered. A new car if written off in the first 2 years, and a hire car after theft or a not-at-fault accident (up to 21 days), were included. - Allianz: for the RWD, an agreed-value product was also offered at A$2,085.67. For the Premium Long Range AWD, no market-value option was offered, so that quote is agreed value. A new car if written off within 2 years, and cover for charging accessories, were included.
The spread: for the same car and the same driver on the same day, the cheapest and dearest annual quotes were about A$1,320 apart for the RWD (A$1,977.71 to A$3,301.71) and about A$1,160 apart for the Premium Long Range AWD (A$2,099.23 to A$3,256.87). That's roughly A$1,200 a year either way. Paying monthly can also cost more than paying annually: twelve monthly payments were higher than the annual price for some quotes.
Caveats: - One profile, one day. These quotes are for one fictional driver at one postcode on 23 October 2026. Your quotes will differ with your age, history, address, car and the date. - The excesses differ (A$950, A$1,100 and A$1,325), and one quote is agreed value rather than market value, so these aren't exact like-for-like comparisons. A higher excess usually means a lower premium. - The forms differ. Each insurer asks its own questions, so some of our answers differed slightly between sites. - Not a recommendation. We don't recommend any insurer, and we aren't paid by any of them. Inclusions change, so read the PDS before you buy.
The same car, different numbers
| Tesla Model Y | Figure | Profile |
|---|---|---|
| Compare the Market (March 2026, RWD) | A$3,203 average | 34-year-old man, Alderley QLD, A$900 excess, market value |
| Finder (quote date not stated, 2025 car) | A$3,298.97 average | Not stated |
| Youi sales data (Nov 2025 to May 2026) | A$1,542 to A$2,765 range | All Youi Model Y customers |
| Our quotes (23 Oct 2026, 3 insurers) | A$1,977.71 to A$3,301.71 (RWD) | 36-year-old man, postcode 3162 Vic, A$950–1,325 excess |
| Drive (2025, Long Range) | A$2,552 estimate | 35-year-old man, Chatswood NSW, A$1,000 excess, market value |
The gap comes from different variants, states, excesses, insurers, dates and methods (quotes for one profile versus policies actually sold). It shows why one published average can't tell you what you'll pay, and why your own like-for-like quotes matter. For why EV prices differ, see why EV insurance costs more.
How this fits our model pages
If you're weighing up a lease on one of these cars, insurance is one of the budget lines in the lease. Our model pages show the full lease picture: - BYD Seal on a novated lease - BYD Sealion 7 on a novated lease - BYD Atto 3 on a novated lease - MG4 Urban on a novated lease - Tesla Model Y on a novated lease
Check how much your lease quote has budgeted for insurance, and whether that's the provider's policy or an estimate for your own (see novated lease car insurance).
Bottom line
Published surveys agree on the order (Teslas and premium brands dearer, MG4 and BYD Dolphin cheaper), but not on the amounts. Use them to sense-check a quote, not to predict one. Then get several quotes for the same cover using our comparison checklist.
FAQ
Why is Tesla insurance so expensive?
Published reasons include higher vehicle values, parts that often have to be imported, and repairs restricted to authorised centres. See why EV insurance costs more.
Is the cheapest EV to insure the cheapest car?
Not necessarily, but cheaper cars tend to cost less to insure. In Compare the Market's March 2026 index, the MG4 Excite 51 had the lowest average EV quote (A$1,524), followed by the BYD Dolphin Essential (A$1,578).
Are these figures current?
They're the latest published figures we could find as of 23 October 2026. Most are from 2026. Drive's comparison is from 2025, and premiums change often.
Disclaimer: this is general information only, not insurance advice. Survey figures are averages for specific driver profiles at specific dates, not quotes. Read the PDS before buying any policy. We don't receive any payment from insurers. See our About page.
Sources
- Compare the Market, EV insurance prices up 10% in 12 months (9 April 2026): https://www.comparethemarket.com.au/news/ev-insurance-up-in-12-months/
- Compare the Market, EV Insurance Index (March 2025, original release): https://www.comparethemarket.com.au/news/ev-insurance-index-1/
- Youi, BYD insurance costs (data 22 Nov 2025 to 22 May 2026, checked 23 October 2026): https://www.youi.com.au/car-insurance/insurance-by-make/byd
- Youi, Tesla Model Y insurance costs (data 22 Nov 2025 to 22 May 2026, checked 23 October 2026): https://www.youi.com.au/car-insurance/insurance-by-make/tesla/model-y
- Youi, MG insurance costs (data 22 Nov 2025 to 22 May 2026, checked 23 October 2026): https://www.youi.com.au/car-insurance/insurance-by-make/mg
- Finder, Tesla insurance (updated 18 September 2026): https://www.finder.com.au/car-insurance/tesla-insurance-costs
- Drive, Are electric cars really that much more expensive to insure? (2025): https://www.drive.com.au/caradvice/are-electric-cars-really-that-much-more-expensive-to-insure/
- Canstar, Car insurance costs rev up (28 May 2026): https://www.canstar.com.au/news/car-insurance-costs-rev-up/
- Canstar, How much does car insurance cost? (28 May 2026): https://www.canstar.com.au/car-insurance/what-does-car-insurance-cost/
Last checked: 23 October 2026. General information only, not tax, financial, legal or credit advice. We don’t recommend any provider; where businesses are named, it’s for information. See our affiliate disclosure.