A new survey has revealed that more than 50% of Britain’s car owners hesitate on switching to eco-friendly electric vehicles due to their pricey car insurance rates. Earlier, there was a call to scrap the 12% insurance premium tax (IPT) imposed on electric vehicles.
A GBN report, citing a Quotezone survey, stated that almost nine out of 10 (86%) British drivers said they still prefer driving petrol and diesel-fuelled vehicles, despite the call from the British government to transition to zero-emission vehicles.
The report also noted that 57% of Britons said they would not switch to electric vehicles even if the government imposed a deadline for the switch in 2035 as part of the state’s efforts to curb carbon emissions. The British government has already announced that the sale of internal combustion engine vehicles will be banned after 2035, although that deadline might be cut further as the new Labour Government looks to reinstate the original target (2030) after it was delayed by former Prime Minister Rishi Sunak, the GBN report said.
Meanwhile, 8% of those surveyed stated that they would switch to electric vehicles after the government’s deadline.
The survey also showed that 78% of Britons said that they are not looking forward to switching to electric-powered vehicles, while 9% are planning to switch in the next two years.
It is the insurance price tag that prevents most Britons from buying electric vehicles. While driving an electric vehicle can contribute to the lessening of the country’s carbon emissions (which could contribute to the reduction of the effect of climate change), owning one can break the bank as electric vehicles have the highest car insurance costs of all engine types, at a current average rate of £996 per year, according to the latest Quotezone data.
“This is 54% more expensive than the average petrol vehicle and around 13% more expensive than the same time last year,” noted the GBN report.
The report also revealed that in the second quarter of 2023, electric vehicle owners were paying an average of £884 for their insurance, which is higher than diesel owners and petrol motorists who paid only £659 and £569 for their premiums, respectively.
“These findings highlight a significant reluctance amongst UK motorists to transition to electric vehicles, despite the fast-approaching deadlines,” Quotezone UK CEO Greg Wilson told GBN. “The hesitation is understandable, based on the cost of electric vehicles and the current charging infrastructure.”
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