"At NRMA Insurance, we're working with car manufacturers to better understand EV repair requirements and upskill our repair network to support this growing customer base."
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IAG is the country's largest general insurer, with brands including NRMA Insurance, RACQ, RACV, WFI, CGU and ROLLiN'. EVs currently make up around 2% of IAG's motor policies, with this expected to grow to 10% by 2030 as adoption increases.
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Teslas account for around 60% of the battery EVs insured by IAG, with rapid growth across brands including BYD, MG, Hyundai and BMW.
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CSIRO modelling suggests that by 2050, most vehicles in Australia will be electric.
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Shift in consumer sentiment
The trend marks a notable shift from two years ago when NRMA Insurance's Changing Gears report found only 20% of Australians planning to buy a car in the next five years were considering an EV, with upfront costs, range anxiety and charging times key barriers.
Momentum in the broader market is also building.
According to the Federal Chamber of Automotive Industries (FCAI) and the Electric Vehicle Council (EVC), March 2026 recorded a record 14.6% share of EV sales, nearly double the 7.5% recorded a year earlier.
Mr Ticehurst said the data reflects growing consumer confidence and changing perceptions around repair and insurance costs.
"Concerns about expensive EV repairs and insurance are beginning to shift. While we still see longer repair times and occasional parts delays in some cases, these issues are easing as the industry scales and repair capability improves.
"At NRMA Insurance, we're working with car manufacturers to better understand EV repair requirements and upskill our repair network to support this growing customer base."
IAG is the country's largest general insurer, with brands including NRMA Insurance, RACQ, RACV, WFI, CGU and ROLLiN'. EVs currently make up around 2% of IAG's motor policies, with this expected to grow to 10% by 2030 as adoption increases.
Teslas account for around 60% of the battery EVs insured by IAG, with rapid growth across brands including BYD, MG, Hyundai and BMW.
CSIRO modelling suggests that by 2050, most vehicles in Australia will be electric.
