EV Car Group Insights to Help You Choose the Right Insurance
Electric vehicles (EVs) are becoming a top choice for drivers in Thailand. They not only reduce carbon emissions but also cut long-term costs while offering a modern driving experience. EV insurance differs from traditional fuel-powered vehicles in terms of coverage, pricing, and unique risks that every EV owner should understand before purchasing.
MrKumka guides you through EV technology, key factors affecting insurance premiums, and tips on choosing the right plan for your lifestyle.
What are the most popular EV cars in Thailand?
In recent years, electric vehicles (EVs) have seen a sharp rise in popularity across Thailand. Known for their energy efficiency, advanced technology, and eco-friendly benefits, EVs stand out from other groups of vehicles and are driving strong registration growth. Leading the market are brands like BYD, Neta, and MG, offering diverse models that cater to different budgets and lifestyles with a reputation for performance and value. In the luxury segment, Tesla, Audi, and BMW are also entering the Thai market to attract luxury EV buyers.
Top EV models in Thailand 2024
BYD Dolphin – 13,386 units (highest registrations)
BYD ATTO 3 – 7,747 units
NETA V-II – 6,587 units
MG4 Electric – 5,403 units
BYD Seal – 5,156 units
EV registrations in early 2025 (Jan–May)
A total of 43,681 new BEVs were registered. The 10 most popular models during this period include:
EVs have gained strong momentum in Thailand, supported by demand from consumers, government incentives, and major automakers. Policies such as tax reductions, purchase subsidies, and nationwide charging station expansion have accelerated the EV market. In 2023, registrations of passenger EVs reached 171,773 units, marking a growth of over 100% year-on-year:
HEVs (Hybrid Electric Vehicles): 84,366 units (+32.9%)
PHEVs (Plug-in Hybrids): 11,692 units (+3.2%)
BEVs (Battery Electric Vehicles): 75,715 units (+690%)
In early 2024 (Jan–Apr), EV registrations continued to grow by 46% compared to the same period last year. The trend shows that fully electric BEVs, in particular, are becoming increasingly popular and are expected to keep growing strongly into 2025–2026.
Key drivers of EV market growth
Government incentives (EV 3.0 / 3.5)
Subsidies of THB 50,000–150,000 per BEV
Import tax and excise tax reductions
Local production requirements for importers
Nationwide charging station expansion
Rising fuel prices
Declining battery costs, enabling longer range and faster charging
Affordable EV models from Chinese manufacturers
The big question: Who are EVs best suited for?
EVs are particularly suitable for:
Urban drivers Ideal for short commutes, school runs, and city errands. EVs save fuel costs, are emission-free, and cheaper to maintain.
Drivers with home charging access Installing a home or condo charger makes EV use far more convenient, reducing the need for frequent public charging.
Cost-conscious drivers Although EVs may cost more upfront, lower electricity and maintenance expenses make them cost-effective in the long run.
Eco-conscious individuals EVs help reduce carbon emissions and urban air pollution.
Tech enthusiasts Many EVs come with advanced features like autonomous driving assist, large touchscreens, internet connectivity, and smartphone app integration.
EV technology and insurance: What you need to know
Before you buy, it's vital to understand the core technology that powers these vehicles and how it impacts your insurance premium. This section will walk you through the key considerations, from choosing a car to protecting your investment.
How EV technology works: Understanding the core components
An electric vehicle (EV) is powered by three key components. The battery pack stores the electricity. The electric motor uses this electricity to turn the wheels. Finally, the inverter converts the battery's power into a format the motor can use, allowing for precise control and a smooth, responsive drive. Understanding these parts is essential to knowing how an EV operates and what makes it unique to insure.
How EV technology impacts insurance premiums
Premiums for EV insurance aren’t just based on the vehicle’s model or value. EVs technological features also affect risk, repair complexity, and costs:
High-capacity batteries Expensive to replace, raising insurance premiums.
Smart software systems Internet connectivity, driver-assist, and OTA updates add risk of malfunctions or hacking.
Specialised repair requirements EV repairs need trained technicians and specialised tools, often at limited service centres.
Charging systems Vehicles supporting DC fast charging may face quicker battery degradation, factored into insurance costs.
AC vs. DC charging: Does it affect insurance coverage?
EVs typically use two types of chargers: AC (Alternating Current) chargers (home/condo) and DC (Direct Current) fast chargers (public stations). These can impact insurance claims and coverage as some policies may only cover damage from properly installed home wallbox chargers. Damage caused by improper use of DC fast charging may not be included.
Category
AC Charger
DC Fast Charger
Usage
Home or condo charging via wallbox
Public EV charging stations
Charging time
Around 4–10 hours (depending on battery size)
Around 30–60 minutes
Associated risks
Heat build-up, improper charging, short circuit risk
High current, potential for faster battery degradation
Impact on EV insurance
Some policies only cover wallboxes installed according to standards
Some policies may exclude damage from DC charging if caused by improper use
Important notes
Some insurers require proof of proper wallbox installation before providing coverage
Damage from charging at non-standard public stations may not be covered
Always check your policy details to ensure coverage applies to both AC and DC charging for complete protection.
How to choose the right EV for your needs
Selecting an EV involves more than just picking a colour. Consider these factors:
Range: How far do you typically drive? A car's range per charge is a crucial metric for long-distance travel.
Charging: Where will you charge your car? at home, at work, or at public stations? It’s essential to understand the different types of chargers (AC and DC) and their speeds.
Battery: The battery is the heart of the EV. Research the battery's warranty, a key indicator of its longevity and manufacturer confidence.
Key factors for getting the right EV insurance premium
Insuring an EV is different from a insuring normal car. Due to the high cost of components, especially the battery (which can account for a significant portion of the car's value), premiums can be higher. When getting a quote, consider:
Factors affecting EV insurance premiums
Details
Car model and value
Premium or high-performance EVs (e.g. Tesla, BMW i Series) usually have higher insurance premiums than standard models
Battery size and age
Newer and larger batteries are more expensive, which raises insurance costs due to higher risk
EV accessories
Home EV chargers, advanced driver-assist systems, and full sensor packages can increase insurance premiums
Driver’s record
A clean driving history with fewer accidents or claims may help reduce premiums
Insurance type
Comprehensive EV insurance (type 1 policy) provides full protection but costs more than type 2 or type 3 policies
Choosing the right EV insurance: It’s not just the price
Selecting EV insurance should not be based on cost alone. Comprehensive coverage matters, especially for batteries, chargers, and electronic systems. For detailed EV insurance comparisons, our experts at MrKumka can help you find the right coverage at the right price. Contact us or call 02 080 9292 for a free consultation.
Definition
EV
An abbreviation for electric vehicle in Thailand, a broad term encompassing various types of vehicles that use electric power to drive.
OTA (Over-The-Air)
A wireless software update that can be sent to a car's onboard computer system remotely without needing to visit a dealership.
DC fast charging
A method of rapidly charging an electric vehicle (EV) by delivering high-power direct current (DC) electricity directly to a vehicle's battery.
