This　study　aims　to　develop　an　optimal　underwriting　strategy　for　affordable　(H1　and　M1)　and　premium　(L1　and　M2)　electric　vehicles　(EVs),　balancing　financial　risk　and　sustainability　commitments.　The　research　is　motivated　by　regulatory　pressures,　risk　management　needs,　and　sustainability　goals,　necessitating　an　adaptation　of　traditional　underwriting　models.　The　study　employs　a　modified　Delphi　method　with　industry　experts　to　identify　key　risk　factors,　including　accident　risk,　repair　costs,　battery　safety,　driver　behavior,　and　PCAF　carbon　impact.　A　sensitivity　analysis　was　conducted　to　examine　premium　adjustments　under　different　risk　scenarios,　categorizing　EVs　into　four　risk　segments:　Low-Risk,　Low-Carbon　(L1);　Medium-Risk,　Low-Carbon　(M1);　Medium-Risk,　High-Carbon　(M2);　and　High-Risk,　High-Carbon　(H1).　Findings　indicate　that　premium　EVs　(L1　and　M2)　exhibit　lower　volatility　in　underwriting　costs,　benefiting　from　advanced　safety　features,　lower　accident　rates,　and　reduced　carbon　attribution　penalties.　Conversely,　budget　EVs　(H1　and　M1)　experience　higher　premium　fluctuations　due　to　greater　accident　risks,　costly　repairs,　and　higher　carbon　costs　under　PCAF　implementation.　The　worst-case　scenario　showed　a　14.5%　premium　increase,　while　the　best-case　scenario　led　to　a　10.5%　premium　reduction.　The　study　recommends　prioritizing　premium　EVs　for　insurance　coverage　due　to　their　lower　underwriting　risks　and　carbon　efficiency.　For　budget　EVs,　insurers　should　implement　selective　underwriting　based　on　safety　features,　driver　risk　profiling,　and　energy　efficiency.　Additionally,　incentive-based　pricing　such　as　telematics　discounts,　green　repair　incentives,　and　low-carbon　charging　rewards　can　mitigate　financial　risks　and　align　with　net-zero　insurance　commitments.　This　research　provides　a　structured　framework　for　insurers　to　optimize　EV　underwriting　while　ensuring　long-term　profitability　and　regulatory　compliance.