IAG - Insurance Australia Group Limited

10/09/2026 | Press release | Distributed by Public on 10/08/2026 18:51

Record levels of EV quote requests reflect growing consumer interest

Record levels of EV quote requests reflect growing consumer interest

09 October, 2026
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Interest in EVs continues to accelerate, with NRMA Insurance recording a 72% jump in EV insurance quote requests in September compared to a year ago.

The latest figures cap off a record year for EV insurance quote enquiries, which have risen 80% year-on-year across the first nine months of 2026.

NRMA Insurance Executive Manager Motor Repair Supply Chain David Wilkes said the increase in EV quote activity comes as Australian motorists face some of the highest fuel prices in the nation's history, with the Middle East energy crisis entering its eighth month, driving diesel prices towards $3 a litre in some capital cities.

Improved charging networks, lower running costs and a wider choice of vehicles are making EVs an increasingly attractive option, particularly as high petrol prices put increasing pressure on household budgets.

David Wilkes

NRMA Insurance Executive Manager Motor Repair Supply Chain

These findings were reinforced in NRMA Insurance's latest Changing Gears report, which found EV consideration continues to increase with just 17% of Australians saying they would not consider buying an EV.

Mr Wilkes said while consumer sentiment towards EVs has shifted, the research also found that more education is needed with many Australians still relying on outdated perceptions of EV ownership.

"Some of the concerns we see around access to charging and battery health don't reflect the reality of modern EVs, but that doesn't mean they should be ignored," he said.

"Providing clear information and helping customers understand the realities of EV ownership will be key to maintaining this momentum.

"As an insurer, we have an important role to play in helping customers navigate the transition to electric."

New car sales data released by the Federal Chamber of Automotive Industries (FCAI) this week showed electric cars outsold petrol cars for the second month in a row, with EVs grabbing a 24.2% share of the Australian new car market with more than 26,200 EVs sold during the month.

NRMA Insurance is the country's largest motor insurer. EVs make up around 3% of its motor policies with the share expected to rise to approximately 10% by 2030 as adoption increases. Tesla accounts for around 50%, closely followed by BYD, MG, Hyundai and BMW.  Other emerging brands include Geely, Zeekr and Omoda Jaecoo.

There is an estimated 500,000 battery EVs on Australian roads, representing around 3% of the national vehicle fleet.

Looking ahead, CSIRO modelling suggests EVs will become the dominant form of transport, with 97% of Australia's light passenger vehicle fleet expected to be electric by 2050.

About the report

Changing Gears: Closing the Confidence Gap is the third instalment of the series, conducted by market research company Ipsos on behalf of NRMA Insurance. You can view the report here: https://www.nrma.com.au/car-insurance/ev-insurance/ev-reports

Methodology

This report draws on a nationally representative survey of approximately 2,000 Australians conducted online by Ipsos on behalf of NRMA Insurance. The sample is weighted to reflect the latest ABS census data on key demographic variables. Comparisons to "Wave 1" refer to the survey of 2,079 Australian consumers conducted in February 2024, which informed Changing Gears: The road ahead for EV adoption in Australia and Changing Gears: Exploring the Future of Battery Safety, Sustainability, and Electric Vehicle Repairs. Additional analysis draws on secondary sources as referenced.

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IAG - Insurance Australia Group Limited published this content on October 09, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on October 09, 2026 at 00:52 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]