As this Auto Blog article explains, with the continued push into electrification, insurance rates are spiking. A new report from Insurify underscores that, while purchasing an EV sounds like a great option, insuring one might be prohibitively expensive. On average, insurance costs for EVs have gone up 16 percent in the past 12 months. When a gas-powered alternative is offered, the cost to insure the fully electrified version of a car is typically 49 percent higher. That said, some EVs don't actually cost more to insure than their ICE counterparts. The Bolt is one such EV.
[EOP]
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