It Pays To Drive An Electric Car. See How Much You Can Save On Insurance.
Shopping for electric car insurance in Ontario or Alberta? At ThinkInsure, we can help you find the right coverage at the cheapest rates. We understand your unique auto insurance needs and will help you take advantage of all green vehicle discounts.
Save money on all electric car insurance policies and get the coverage you need to drive worry free and reducing your impact on the environment.
The Best Insurance For Electric Vehicles or EVs
If you drive an electric car we can help you get the best insurance coverage and rates. At ThinkInsure, experience the advantage of working with our expert team of insurance brokers :
- Great Coverage Options for all EVs : We can help you get coverage for all types of electric vehicles.
- Get Expert Insurance Advice : Our insurance professionals are can help you with ALL your insurance needs – quotes, coverage, renewals, questions, claims, and more.
- Take Advantage of Discounts : We’ll make sure you are taking advantage of all available discounts, including the green vehicle car insurance discount.
- Compare Quotes To Get The Cheapest Rates : Compare electric car insurance quotes from multiple providers to find the lowest rates.
About Insurance Coverage For Electric Cars
Insurance coverage for electric vehicles is relatively new. Electric vehicles have only been in mass production since 1997 when Toyota introduced the Prius. Even now, not all insurers offer coverage and it is still a niche insurance market.
While the majority is very similar to standard car insurance policies, there are some subtleties to note. For example, you may require additional liability coverage for situations unique to electric vehicles – charging cables, charging stations, and EV battery protection.
If you install a charging station at home, you will also need to update your home insurance policy to include the charging station equipment.
Factors That Affect Electric Car Insurance Rates
Auto insurance for electric cars can be affected by many factors. Here are some of the top things that can have an impact on your auto insurance rates :
- Vehicle type : Rates can be different for fully electric vehicles.
- Retail price : It’s estimated that electric vehicles cost about 20% more than other cars.
- Repair costs : EVs have higher maintenance costs and higher cost of replacement parts. Mechanics with specialized training are required.
- Battery damage : EV car batteries are more prone to damage during a collision, significantly increasing repair costs.
- Fewer coverage options : Coverage for electric cars is not offered by all insurers. You may have fewer options, reducing your ability somewhat to comparison shop. However, more and more insurers are offering coverage.
How Much Does Electric Car Insurance Cost?
Insurance on electric vehicles can vary just as much as other vehicles. You can expect to pay about the same or slightly more for electric car insurance premiums. At ThinkInsure, we’ll help you shop around and compare rates. We’ll find you the cheapest policy based on your vehicle, driving history, and coverage needs.
Take Advantage Of The Electric Car Insurance Discount
We know you like to save on insurance rates. Driving an electric car automatically qualifies you for a discount. If you drive an electric car you will qualify for a green vehicle discount. You could save up to 10% on your EV car insurance discount. Cost savings on your premiums vary by insurer.
Learn more about car insurance discounts.
Tips To Get The Best Insurance For Electric Cars
We know you want the best coverage and cheapest rates. Here are some simple tips to help you get lower electric car insurance premiums:
- Choose insurance friendly vehicle features : Install an anti-theft device and choose vehicle safety features that will help lower rates.
- Considered used : Used electric vehicles are cheaper to purchase, reliable and are often cheaper to insure.
- Increase your deductible : Increase your policy deductible to lower your premiums.
- Check out electric car insurance reviews : Some electric vehicles are more expensive to insure than others. Check out reviews to find affordable electric cars to insure.
- Compare quotes with a broker : Our insurance experts can help you compare quotes from all top insurers that offer coverage for EVs.
Types Of Fully Electric Cars
Electric cars, which are also referred to as battery electric vehicles (BEV) are fully electric, use rechargeable batteries, and use no gasoline. Popular types of fully electric vehicles include :
- Audi e-tron
- BMW i3
- Chevy Bolt
- Chevy Spark
- Nissan LEAF
- Ford Focus Electric
- Hyundai Ioniq Electric
- Hyundai Kona Electric
- Kia Soul
- Mercedes-Benz B-Class
- Tesla Model 3
- Tesla Model S
- Tesla X
- Volkswagen e-Golf
Electric Car Insurance FAQs
There are a lot of questions about electric car insurance in Canada. Electric cars are becoming more popular. Here are some of the top questions about electric car insurance:
The best insurance for electric cars depends on your covergage needs. Insurance providers all have different policy coverage options and discounts. You can get basic coverage or increased coverage. Rates also vary depending on the provider. It's best to compare rates and coverage to find the best insurance for your electric vehicle.
Yes. You are required to have car insurance if you drive an electric vehicle. The process to get coverage is the same.
Typically, electric cars cost slightly more to insurance than other similar vehicles. However, the car you drive is only one of many factors that impact the cost of insurance. Compare quotes to better understand your insurance rate options.
It depends. In general, electric cars can cost more to insure. But, you also need to consider the make and model being compared in addition to other factors that affect insurance rates.
It can be. It depends on the make and model of vehicles being compared. Compare vehicle insurance premiums to identify the cheapest option.
The Kia Soul EV and Nissan Leaf are regarded as the cheapest electric cars to insure. See a full list of cheapest cars to insure to see more insurance cost saving opportunities.