Electric car insurance

Are you thinking of purchasing an electric car? With electric vehicles (EVs) gaining popularity, many car companies are now offering EV options. From luxury brands like Tesla to more everyday brands like Kia or Hyundai, electric cars are becoming more and more accessible for everyone. By choosing either electric or hybrid, you’re making an eco-friendly choice about the car you decide to buy. From the environmental benefits to government rebates – there are lots of attractive reasons to reduce your carbon footprint and get behind the wheel of one. And electric car insurance may be one of those reasons.

Will purchasing an electric car lower my insurance premiums?

There are a wide variety of different types and brands of electric vehicles on the market, from small compact cars to SUVS. Your premiums are going to depend on the make and model of your electric car or hybrid vehicle. For example, the cost of Tesla insurance for a Model X won't likely be the same as the cost of insurance on a Toyota Prius. The easiest and most accurate way to find out how much you’re going to pay for insurance for a specific electric car is to go online and get a quote.

Are there any insurance discounts available specifically for electric cars?

Yes, there sure are. We proudly recognize the contribution of any individual who is trying to make a difference by reducing smog and greenhouse gas emissions. At TD Insurance, we offer the Green Wheel discount. This discount is for anyone who is doing their part to go green by driving a hybrid or electric vehicle acknowledged by the Insurance Bureau of Canada. It’s our way of saying thank you for thinking about the planet and working towards a cleaner, greener future.

Is the coverage different between a regular car and an electric car?

Mandatory insurance coverages do not differ whether you drive an electric, hybrid or a regular car. But remember, mandatory insurance does differ from province to province - so before you unplug and quietly drive away, make sure you have the correct insurance based on where you live in Canada.

Are there other ways to save on my insurance?

There are lots more mays to save with TD Insurance. Below are just a few of them:

Want to know more? Find out other ways to get a discount on your car insurance today.

Save when you go "Green" on Car Insurance

Aside from insurance, how else can switching to an electric or hybrid vehicle save me money?

When you purchase an electric car, you can also be confident knowing you will be saving on fuel and in general, you’ll likely spend much less on maintenance (imagine no more oil changes).

Planning for a greener tomorrow has been a priority for TD for over a decade. We encourage our customers to think greener and proudly offer them a reward for doing so. Although there are different factors that will ultimately contribute to your decision to drive an electric or hybrid car, the benefits are something we can all enjoy today and in the future.