The research found that a manual handbrake averaged £220.37 for motorists, while the average cost to repair an electronic handbrake was £665.98.
Duncan McClure Fisher, CEO of Intelligent Motoring, said: "Manufacturers are phasing out manual handbrakes in their new vehicles, with components in cars and vans generally becoming increasingly electrified. Almost one in 10 new passenger cars sold today has a manual handbrake. In fact, some of the UK's most popular brands have completely switched to an electric handbrake for all new models.
"However, as with many other electric features on newer vehicles, this comes at a higher repair cost for the driver if they are not protected."
Meanwhile, analysis of warranty claims data showed that 27% of electronic handbrake claims cost over £1,000.
McClure-Fisher said: "At a time when the cost of living and the cost of car ownership is soaring, this trend is leaving motorists at even greater risk of unexpected and unaffordable repair bills."