NRMA Insurance reports record jump in EV quote requests as fuel prices surge

New NRMA Insurance data shows quotes for electric vehicles (EVs) jumped 42% in March 2026, and by 81% year on year, as more Australian’s consider EVs amid rising crude oil prices and concerns over fuel supply.

The events in the Middle East and its impact on fuel prices in early March saw monthly EV insurance quote requests accelerate nationwide with the strongest uptick in interest coming from NSW, QLD and SA.

Head of Automotive Research at NRMA Insurance, Shawn Ticehurst, said the insurer is seeing changing consumer behaviour, noting that global price shocks have historically created catalysts for long?term behavioural change.

“It’s clear consumer sentiment towards EVs is shifting,” Mr Ticehurst said.

“NRMA Insurance is seeing a clear spike in the number of Australian drivers looking to EVs amid the most significant oil price shock in decades and ongoing concerns about petrol supply.”

“At the same time, the expanding range of affordable EV models is giving motorists a clearer understanding of the day?to?day cost savings EVs can deliver.”

EV confidence surges as old concerns fade

Mr Ticehurst said the latest data reveals a marked difference from NRMA Insurance’s Changing Gears research in 2024, which found only 20% of Australians planning to buy a car in the next five years were considering an EV due to concerns about upfront cost, range anxiety and charging times.

“Today, with more than 100 EV models now available across every major price tier, a growing second-hand market, rising confidence in charging infrastructure and repair capability, those concerns are fading fast,” he said.

NRMA Insurance is part of IAG, the country’s largest general insurer and home to brands such as RACQ, RACV, WFI, CGU and ROLLiN’. While EVs currently represent around 2% of IAG’s motor portfolio, this is projected to grow to 10% by 2030 as uptake continues to strengthen.

Mr Ticehurst says Teslas make up 60% of the battery?electric vehicles insured by IAG, with strong momentum from emerging EV brands including BYD, MG, and BMW.

ROLLiN’ Maps Out EV?Friendly Easter Getaways

While the fuel crisis may keep many petrol drivers close to home this Easter, EV owners aren’t feeling the same cost pressure, making long?distance travel far more accessible.

ROLLiN’ an IAG motor insurance brand, is reminding EV drivers of its EV?Friendly Cities research, which highlights the locations best equipped with strong charging networks and EV?ready infrastructure.

You can view the EV?Friendly Cities guide at: rollininsurance.com.au/EV-Friendly-Cities

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