麻豆影视

Autos

    • How electric vehicle insurance compares to gasoline-powered vehicles

    Share

    As Canada's electric vehicle industry grows, more Canadians are making the switch to electric in hopes of saving on fuel and insurance costs.

    However, the total costs all depend on how much you drive, what vehicle you purchase and where you charge your car, to name a few factors.

    Before you make the switch, here are some price factors to consider.

    HOW MUCH IS INSURANCE?

    Similar to gas-powered vehicles, insurance rates for electric vehicles will vary depending on the person's driving history, location, age and whether they buy a luxury or standard vehicle model. Depending on these variables, insurance for EVs can save you a bit of money.

    According to a 2022 report by auto insurance company , insurance rates for a 35-year-old man living in Toronto, Ont., with a clean driving record would be cheaper if the driver purchased an electric vehicle versus gasoline.

    The average cost for the most expensive EV, a 2017 Tesla Model S, would cost $200.42 per month to insure. The least expensive EV, a 2019 Kia Niro, averages about $165.92 per month to insure.

    By comparison, the most expensive gasoline-powered vehicle to insure, a 2022 BMW M340i, averages roughly $231.75 per month.

    Qui Trieu, an AVP National Underwriting for Aviva Canada, told CTVNews.ca while there are possibilities for savings, there are still other factors like part replacements that will affect insurance premiums and overall spending costs for an electric vehicle.

    In the event of an accident and your EV's battery is severely damaged, However, Trieu says, as the industry grows, so will the accessibility to essential parts.

    "Since EVs are still new to the market, we鈥檙e still in the transition period, not only in adoption, but overcoming challenges impacting both the industry and customers related to available vehicle supply and skilled labour. EVs are built differently than gas vehicles and sometimes can be more expensive to repair, which can impact premiums," Trieu said in an emailed statement Wednesday.

    WHERE CAN I SAVE ON MONEY?

    While there are some savings benefits with overall fuel costs and insurance premiums, the total sole cost of an EV is still fairly expensive in comparison to gas-powered vehicles.

    According to the , electric vehicle models from 2022 and 2024 range from $38,198 to $212,500 in price.

    The with an electric range over 50 kilometres and $2,500 for plug-in hybrid vehicles with an electric range under 50 kilometres. Additionally, Trieu says drivers should also look into different incentives each province offers and discounts various insurance companies have, which can go a long way in saving money.

    With gas prices soaring in the last year, electric vehicle owners can also save on fuel costs as they no longer have to rely on paying at the pumps if they're able to charge at home or at their nearest charging station.

    Depending on the size of the vehicle and the amount of distance you're driving, that will vary the costs to charge an EV. For example, Canada's 2023 Fuel Consumption Guide found the annual charging cost for the owner of a Tesla Model S vehicle is $525 per year. Compared to a Honda Civic, for example, annual fuel costs can reach $1,775.

    WHO WOULD BE A GOOD CANDIDATE?

    Brian Kingston, president of Canadian Vehicle Manufacturers鈥 Association, says Canadians considering the switch to electric need no convincing when it comes to savings, but the lack of charging stations make it difficult to make the plunge.

    "Survey after survey shows that the biggest concern that Canadians have when it comes to making the switch to an electric vehicle is the ability to charge and the price of these new vehicles," Kingston told CTVNews.ca in a phone interview on Wednesday.

    Canadians should consider several factors before purchasing an EV, Kingston explains, but evaluating how accessible charging a vehicle is should be top of mind, whether that's at their home, their workplace, or a nearby charging station.

    Additionally, Kingston says Canadians should look at their driving patterns and consider how often and how far they drive to figure out whether an electric vehicle is right for them.

    "It's really important that you look at your driving patterns, and determine if you've got the charging infrastructure to facilitate it. The one unique thing about Canada is that we've got a 1.1 million kilometres of two lane public road, we've got a cold climate and Canadians drive long distances,鈥 he said.

    鈥淚t's not out of the question for somebody to drive 800 kilometres over a weekend to visit family or go across the province, so if you do that regularly, it's important that you make sure that you've got access to charging infrastructure."

    CTVNews.ca Top Stories

    Why brain aging can vary dramatically between people

    Researchers are uncovering deeper insights into how the human brain ages and what factors may be tied to healthier cognitive aging, including exercising, avoiding tobacco, speaking a second language or even playing a musical instrument.

    The union representing some 1,200 dockworkers at the Port of Montreal has overwhelmingly rejected a deal with their employers association.

    A man who was critically injured in a police-involved shooting in Hamilton late Sunday afternoon has died in hospital, says the province鈥檚 police watchdog.

    Canada

    World

    Politics

    • Murray Sinclair鈥檚 family members say the late justice and senator has been laid to rest according to his wishes.

    • Prime Minister Justin Trudeau announced voters in Cloverdale鈥擫angley City will pick their next member of Parliament on Dec. 16.

    Health

    Sci-Tech

    Entertainment

    Business

    Lifestyle

    Sports

    Autos

    Local Spotlight

    For the second year in a row, the 鈥楪ift-a-Family鈥 campaign is hoping to make the holidays happier for children and families in need throughout Barrie.

    Some of the most prolific photographers behind CTV Skywatch Pics of the Day use the medium for fun, therapy, and connection.

    A young family from Codroy Valley, N.L., is happy to be on land and resting with their newborn daughter, Miley, after an overwhelming, yet exciting experience at sea.

    As Connor Nijsse prepared to remove some old drywall during his garage renovation, he feared the worst.

    A group of women in Chester, N.S., has been busy on the weekends making quilts 鈥 not for themselves, but for those in need.

    A Vancouver artist whose streetside singing led to a chance encounter with one of the world's biggest musicians is encouraging aspiring performers to try their hand at busking.

    Ten-thousand hand-knit poppies were taken from the Sanctuary Arts Centre and displayed on the fence surrounding the Dartmouth Cenotaph on Monday.

    A Vancouver man is saying goodbye to his nine-to-five and embarking on a road trip from the Canadian Arctic to Antarctica.

    • Weather watchers were treated to an exceptionally rare display on Friday evening as rare cloud formations filled Vancouver skies.

    • For some shoppers it was Nov. 1, but for others the first hints of Christmas - saccharine treats, festive-fragranced candles and gaudily wrapped gift sets - were being noticed in stores long before the final Halloween decor had been cleared.

    • Thousands of people are expected to gather in downtown Vancouver on Monday to observe the city鈥檚 100th Remembrance Day ceremony.

    • Toronto is expected to see an economic boost to the tune of nearly $300 million thanks to Taylor Swift鈥檚 upcoming Eras Tour, which will be making a stop in Canada鈥檚 largest city for a six-show run later this month.

    • One man was transported to hospital early Monday morning after a stabbing in the northwest end of the city, Toronto police say.

    • A pair of 105-mm howitzers bark constantly as they turn plywood tank targets into kindling kilometres away on the windswept landscape of one of Canada's largest military bases.

    • Two semis were among the vehicles involved in a multi-vehicle crash that brought westbound traffic along Stoney Trail Northwest to a standstill on Sunday.

    • NEW THIS MORNING

      NEW THIS MORNING

      An Ottawa boy with a rare disease will be getting the chance to see Taylor Swift in concert after the winner and organizers of an auction held on his behalf gifted the tickets to him.

    • CTVNewsOttawa.ca looks at Remembrance Day ceremonies in Ottawa.

    • After months of controversy surrounding a dog park in Ottawa's west end, a solution has been reached to divide the park in half.

    • An elementary school in Greenfield Park on Montreal鈥檚 South Shore is closed after it was the target of an alleged arson attack.

    • Some 12,000 daycare workers are set to begin their strike action Monday morning.

    • Though most businesses are expected to be open on Remembrance Day, there are some establishments that will be closed to commemorate the holiday.

    • Monday is Remembrance Day, a time to honour armed forces members who have died in the line of duty.

    • Boasting 2,300 square metres of skating space at its new location, Edmonton's Rollers Roller Rink believes it is the largest in Canada.

    • A Cape Breton senior recalls her life in German-occupied France, and her mother鈥檚 death, during the Second World War.

    • It's been a trip to cherish for a group of Canadians visiting Belgium this week to honour the legacy of Indigenous soldiers.

    • A pillar in Canada鈥檚 history was honoured in Winnipeg Sunday afternoon, with thousands showing up to pay tribute to the life and legacy of the late Murray Sinclair.

    • Winnipeg police have identified two men involved in a stabbing incident earlier this week.

    • There will be two ceremonies taking place in Regina for Remembrance Day, hosted by the Royal Canadian Legion.

    • Regina author Valerie Crowther is celebrating the release of her book 鈥榃ar Letters: Linking Lives in the Second World War.鈥

    • It was a somber day at Mosaic Stadium as members of the Saskatchewan Roughriders officially cleaned out their stalls and closed the book on the 2024 season.

    • A man has been charged after a stabbing at an apartment building in Kitchener.

    • The Guelph Police Service is putting out a warning after two deaths in the downtown area.

    • Two new tributes to Canada鈥檚 veterans have been unveiled at the Elmira Cenotaph.

    • Saskatchewan RCMP are searching for a suspect after a man was seriously injured in a farm-related incident in Montreal Lake.

    • It was a somber day at Mosaic Stadium as members of the Saskatchewan Roughriders officially cleaned out their stalls and closed the book on the 2024 season.

    • The Regina Rams claimed the Hardy Cup after a hard fought battle against the Saskatoon Huskies 19-14 on Saturday in the first all Saskatchewan U-Sports western conference final since 2002.

    • Emergency crews responded to the scene on Road 68/Highway 2 east of Thamesford around 7 p.m.

    • On Friday, the Sarnia Police Service (SPS) received a report of an alleged abduction in the area of Kathleen Avenue and Walnut Avenue.

    • 11 AM:WATCH LIVE

      11 AM:WATCH LIVE

      The events will start at 10:15 a.m. with a parade that forms up in front of the Delta London Armories, marches east on Dundas Street and turns north onto Waterloo Street to Dufferin Avenue, the west to the Cenotaph.

    • A group of former NHL players faced off against York Regional Police officers in Newmarket Sunday afternoon to raise funds for Special Olympics programs across the province.

    • A driver is facing multiple charges after a multi-vehicle collision on Highway 400 early Sunday morning.

    • The agreed statement of facts was read to the court on Friday in the case of Alex Williams, the 24-year-old jail guard charged last fall with smuggling cannabis and tobacco into Central North Correctional Centre in Penetanguishene.

    • 11 AM:WATCH LIVE

      11 AM:WATCH LIVE

      Representatives of the Windsor Veterans Memorial Services Committee, military representatives, wreath bearers, government officials, and members of the public will attend the Cenotaph at City Hall Square for the outdoor service.

    • One person has been arrested after Chatham-Kent Police Service (CKPS) received multiple complaints about an alleged drunk driver.

    • More details have been released about a police investigation at the Ambassador Bridge that connects Windsor, Ont. and Detroit, MI.

    • Environment Canada says heavy rain and winds could cause power outages on Vancouver Island as an "intense" storm system is set to hit the B.C. coast Sunday.

    • Six deer were struck by vehicles in six different locations in a six-hour period on B.C. highways on Saturday, according to the transportation ministry.

    • The union for locked-out port workers in British Columbia says the BC Maritime Employers Association cut off talks in less than an hour Saturday, refusing to budge on a final offer that the union has so far rejected.

    • The emergency department at South Okanagan General Hospital in Oliver, B.C., will be closed for 31 hours this weekend, the second such closure in a week and the third since the start of November.

    • Police in Kamloops, B.C., are reminding parents and guardians to check their children's Halloween candy after receiving a report of a mother finding a razor blade in one of her daughter's treats.

    • More than two years after Alannah Brown and Douglas Barker were found dead north of Penticton, police are asking for help identifying a vehicle they believe was associated with the crime.

    • The Southern Alberta Recreation Association is officially announcing the Town of Taber as next year鈥檚 host for the Southern Alberta Summer Games.

    • The Lethbridge Hurricanes broke open a close game with three goals in the first two minutes of the third period as they defeated the Warriors 7-3 in a game played Friday night in Moose Jaw.

    • There might not a lot snow just yet, but many southern Albertans are still itching to get outdoors.

    • Police have arrested a 15-year-old in connection with a break-in and $50,000 in damage done to the Centennial Arena in Elliot Lake in September.

    • Mayors of the five largest cities in northern Ontario met in North Bay the last two days to discuss a range of critical issues impacting their cities and the region.

    • Residents in the Sault expressed concerns ranging from vandalism to privacy invasions during recent consultations on the city's plan to install automated speed enforcement cameras.

    N.L.

    Shopping Trends

    The Shopping Trends team is independent of the journalists at 麻豆影视. We may earn a commission when you use our links to shop.聽Read about us.

    Stay Connected
    Follow 麻豆影视