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Ontario’s  Lowest Electric Car Insurance Rates from Your Trusted Broker

Electric Car Insurance

Electric Car Insurance

OR, Just give us a call and speak to an Excalibur Defender

Going with the Current,

Electric Vehicles

Congratulations, you’re among the many in Ontario who’ve shifted to a greener mode of transportation. Whether you’re cruising in a Tesla Model 3, family hauling with the Hyundai Kona or using your Ford Lightning to deliver the boat to the cottage. You should spark up a conversation with our Excalibur Defenders about electric vehicle insurance. We want to ensure your coverage reflects your electric automobile’s benefits and risks. We’ll keep you commuting confidently with coverage for everywhere your electric car takes you.

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complete your insurance quote

By using our Rate Reducer or by filling out a form on our website.

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we pick up the phone and call you

An Excalibur Defender will review the quote and your unique needs, to ensure you have the right coverage.

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finalize your policy and get your pink slip

Liked your coverage and your quote? Your Defender will send you the documents – you can even sign right from your phone. After signing, we email you your pink slip. Welcome to the Excalibur Family!

Perhaps you need protection for more?

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Young Driver Insurance

Mature Driver Insurance

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Classic Car Insurance

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Motorcycle Insurance

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CAA Insurance

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High Risk Auto Insurance

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Good Driver Insurance

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More Options

We work with over 40 of Canada’s Top Insurers to guarantee you have options.

We understand – cheap auto insurance is a must have for hard working Ontario families on a budget. When it comes to finding you the best insurance, we look for a little more.

# 1

Finding different ways to save you money

# 2

Ensuring you have the coverage you need

# 3

Choosing insurers with a reputation for exceptional claim service.

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Rate Reducer™

Perhaps you’d like to review an instant quote on your own. We’re happy to show our hand on the coverage options available and let you Compare your 10 lowest electric car insurance rates in minutes with our self-serve quote tool.

If you see an option you like
– reach out.

Is Electric vehicle insurance
more expensive?

Electric cars tend to be slightly more expensive, as such your coverage may be higher to reflect the cost of replacement. However, common electric cars with a history of performance can come at a lower cost to insure. Some electric cars even have electric car insurance discounts depending on your make, model and insurer. Rest assured that our Excalibur Defenders will search and compare options to get the best coverage for your electric vehicle.

How electric is my automobile?

The bulk of electric vehicles fall into three categories, BEV, HEV & PHEV.

Battery Electric Vehicles (BEVs)

Powered solely by electric batteries with no gas engine parts. Fast charging. Zero emissions.

EXAMPLE: Chevrolet Bolt, Nissan Leaf, Hyundai IONIQ Electric, Tesla Model 3.

Hybrid Electric Vehicles (HEVs)

Low emission vehicles that use an electric motor to assist gas-powered engines. No electric charging. All energy from gasoline.

EXAMPLE: Toyota Prius, Corolla Hybrid, Mazda CX-90 Hybrid, Escape Hybrid

Plug in Hybrid Electric Vehicles (PHEVs)

Similar to a hybrid but with a larger battery and electric motor and a gas tank. Can be charged.

EXAMPLE: Subaru Crosstrek Hybrid, Kia NIRO, Toyota Prius Prime.

Protect your Budget with Gap Insurance

Maintain the original value of your car!

With Gap Insurance, if you buy a new vehicle and it’s written off in an insurance claim, you will get reimbursed for the amount you paid for up to 7 years. If you buy a used vehicle that’s less than ten years old, Gap Insurance will reimburse you for the market value at the time you purchased for up to 5 years.

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Questions to Ask Your Broker

You need a broker for finding auto insurance that meets your specific needs. Here are a few questions to consider beforehand as you prepare for the discussion:

  • How much can you afford to pay if you get in an accident?
    (To keep premiums low you may want to have a higher deductible and be willing to pay more for repairs.)
  • What is the procedure for filing and settling a claim?
    (Ask who to call and what happens after you file a claim.)
  • What is the insurance company’s level of service and ability to pay claims?
  • What discounts are available?
    (Ask about good driver, multiple policy and student discounts.)

Electric Car Insurance

Electric Car Insurance

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Free Protection Checkup

with every quote & renewal

We look for potential blind spots. We know, everyone wants cheap insurance, but our job is to protect you from assumptions, unknowns and industry change with our free comprehensive review of your needs.

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Customer Tool Chest

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Make a Claim

Hassle free ways to report your claim.

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Self-Serve Options

Submit a form, request or make changes instantly by logging into your customer account.

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Download our Mobile App

Monitor & Make Changes to your Account Anywhere.

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  • Instantly access your pink liability cards.
  • View policies via your mobile device.
  • Request changes, check claims & more.
  • Get your policy renewal digitally.

A few of the reasons we Smile .

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Justyce (ON, Canada)

June 3 2022

“Our broker Lane was was very polite and respectful and found us WAY cheaper insurance. I would recommend Excalibur to anyone looking for insurance. ”

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Derek (ON, Canada)

May 17, 2022

“I liked that there was a single point of contact, so the agent already knew my background and insurance application.”

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Cathy L (ON, Canada)

March 2, 2022

“Kelsey was knowledgeable and explained the policy in a way I could understand! She got back to me in a timely fashion, very professional. ”

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Frequently Asked Questions

If you’ve got Electric Car Insurance questions – we’re here to answer them. Our team of defenders is always happy to help clarify your insurance knowledge and here are a few Tips and Frequently Asked Questions to get you started.

While the cost of electric car insurance is not guaranteed to more expensive than traditional vehicle insurance, you may find your rates slightly higher due to the more costly nature of electric vehicles. EVs often have expensive, tech-savvy features, and may have a higher market value than their gas-powered alternatives. Rates still vary based on your common car insurance factors, like usage, driver’s record, replacement cost, commute distance, postal code, and so forth.

Electric car insurance works the same way as traditional car insurance does. Sure, EVs may need special parts and services, but that doesn’t mean their insurance works differently. Insurance may be costlier in some instances, but Ontario’s mandatory automobile insurance laws still require EVs to be insured with the same level of protection as any vehicle on the road.

Yes, some insurers do offer discounts if you drive an electric vehicle, to incentivize you to make more green choices. You may want to check with your insurer about potential discounts for “driving green.” Another green way to potentially reduce your insurance costs is to go paperless!

Typically, if you have collision coverage or DCDP coverage in a not at-fault accident, your EV’s batteries will be covered if they are damaged in an accident. If your EVs batteries were damaged or gave out due to your neglect or lack of maintenance, however, they probably wouldn’t be covered.

Currently, the cheapest electric vehicles to insure are the Nissan Leaf and the Kia Soul EV. However, this may stand to change as electric vehicles evolve, gain higher safety ratings, and become more popular on the roads. If budget is a top priority for you, we advise keeping insurance rates in mind when shopping for your next electric vehicle.

Electric vehicle insurance costs range astronomically due to the fact that each electric vehicle is priced vastly different. You may find that you could end up paying anywhere between $1,500 and $4,600/year for your electric car insurance in Ontario, depending on various factors. These figures, however, are only estimates and we advise you to get a quote to gauge a more accurate figure for your electric car’s insurance premiums.

Take, for example, the Ford Fusion. Where a traditional gas-powered model might cost you anywhere between $1,600-$1,900/year to insure (on average) its electric-powered alternative may cost you upwards of $2,000. Some of the reasons why electric vehicles cost more to insure is due to the higher cost for replacement parts, the cost to replace damaged electric vehicle batteries, and the higher expense for repairs due to specialized training required to fix electric vehicles.

While installing a home charging station will do nothing to impact your electric vehicle insurance premiums, it may impact your home insurance. Make sure to inform your insurer about any plans you have to add a home charging station to ensure you have adequate protection in place should anything happen.

Currently, there are no specific insurance incentives for electric vehicles in Ontario. However, there is a program known as the Incentives for Zero-Emissions Vehicles (iZEV) in Canada, as well as tax write-offs for businesses. The iZEV program essentially offers point-of-sale incentives for customers who either purchase or lease a zero-emission vehicle. Two incentives exist – one for $5,000 for battery-electric, longer-range plug-in hybrid vehicles, and another for up to $2,500 for shorter-range plug-in hybrid electric vehicles. To be eligible for the program, vehicles must meet all of Canada’s Motor Vehicle Safety Standards, be meant for use on roads, highways, and public streets, and have at least four functioning wheels and be able to drive on highways.

Generally, if you had comprehensive coverage, your electric vehicle may be covered. This would be treated similarly to any other non-collision damage event.

Learn more over at our Blog!