Can I Get Hybrid or Electric Car Insurance Discounts in Ontario?

When you drive an electric or hybrid vehicle you’re certainly doing your part in protecting and perhaps even advocating for a better environmental future for all of us. Hats off to you!  It’s certainly the “green” thing to do, and it’s an added bonus that it will save you money at the gas station.

But truth be told, although you’ll be saving money and spending less time at the pump, you may not enjoy the same savings on your car insurance (yet).

But we think it’s just a matter of time.

Let’s Talk About Hybrids for a Moment

Hybrids have come a long way in terms of their performance and fuel efficiency over the years. In 1997, Toyota began mass production of the Toyota Prius. Fast forward two decades, and here we are with many more manufacturers building Hybrids.

It’s estimated that a hybrid vehicle will cost approximately 20% more than a standard vehicle. For some drivers, this is enough of a deterrent as the fuel savings may not be enough to offset the cost.

What Makes Hybrid Vehicles More Fuel-Efficient?

  1. Hybrid cars work on a combination of electricity and gasoline and produce less emissions than conventional vehicles;
  2. Hybrid car technology leverages kinetic energy while braking and transfers this energy back to the battery. This both extends the life of the battery and gives you better fuel economy;
  3. Hybrids weigh less than their counterparts as they are built with lightweight materials and the engines are typically smaller in size. These engines are designed light and highly efficient

Am I Entitled to a Discount on My Insurance?

As hybrid and electric vehicles become more common, it’s likely that more insurance companies may begin to offer discounts.

It’s a good idea to talk to your broker to find out if there are any discounts you can possibly take advantage of right now.

The hope is that similar to how the winter tire discount became more and more popular among insurance companies, a hybrid/electric vehicle could follow suit.

Your Insurance Could Be Slightly More

When shopping for car insurance for your hybrid vehicle, you may find that insurance premiums may be either the same or slightly more expensive. That’s because hybrid vehicles themselves are more expensive to buy and repair.

You can expect that price to go down as more people buy them and mass production drives the cost down per vehicle in time, though.

One of the main components of a hybrid car is the battery, which is also the most expensive component that’s easily susceptible to damage in the case of a collision. This costly repair or replacement could influence your insurance rates.

You Need Insurance

It doesn’t matter if your car is a hybrid, electric, or a conventional gasoline or diesel fuel: you’ll always need car insurance if you’re driving. A bonus for owners of hybrid and electric cars is that they currently tend to retain better resale values even after a few years.

It’s a good idea to review the coverage you have on your vehicle with your broker to make sure that you’re not missing any coverage that could make sense for you.


Want to compare hybrid, electric, and regular vehicles on your policy? See the difference with a 3-minute quote right here.

When you drive an electric or hybrid vehicle you’re certainly doing your part in protecting and perhaps even advocating for a better environmental future for all of us.

Hats off to you!  It’s certainly the “green” thing to do, and it’s an added bonus that it will save you money at the gas station.

But truth be told, although you’ll be saving money and spending less time at the pump, you may not enjoy the same savings on your car insurance (yet).

But we think it’s just a matter of time.

Let’s Talk About Hybrids for a Moment

Hybrids have come a long way in terms of their performance and fuel efficiency over the years. In 1997, Toyota began mass production of the Toyota Prius. Fast forward two decades, and here we are with many more manufacturers building Hybrids.

It’s estimated that a hybrid vehicle will cost approximately 20% more than a standard vehicle. For some drivers, this is enough of a deterrent as the fuel savings may not be enough to offset the cost.

What Makes Hybrid Vehicles More Fuel-Efficient?

  1. Hybrid cars work on a combination of electricity and gasoline and produce less emissions than conventional vehicles;
  2. Hybrid car technology leverages kinetic energy while braking and transfers this energy back to the battery. This both extends the life of the battery and gives you better fuel economy;
  3. Hybrids weigh less than their counterparts as they are built with lightweight materials and the engines are typically smaller in size. These engines are designed light and highly efficient

Am I Entitled to a Discount on My Insurance?

As hybrid and electric vehicles become more common, it’s likely that more insurance companies may begin to offer discounts.

It’s a good idea to talk to your broker to find out if there are any discounts you can possibly take advantage of right now.

The hope is that similar to how the winter tire discount became more and more popular among insurance companies, a hybrid/electric vehicle could follow suit.

Your Insurance Could Be Slightly More

When shopping for car insurance for your hybrid vehicle, you may find that insurance premiums may be either the same or slightly more expensive. That’s because hybrid vehicles themselves are more expensive to buy and repair.

You can expect that price to go down as more people buy them and mass production drives the cost down per vehicle in time, though.

One of the main components of a hybrid car is the battery, which is also the most expensive component that’s easily susceptible to damage in the case of a collision.

This costly repair or replacement could influence your insurance rates.

You Need Insurance

It doesn’t matter if your car is a hybrid, electric, or a conventional gasoline or diesel fuel: you’ll always need car insurance if you’re driving.

A bonus for owners of hybrid and electric cars is that they currently tend to retain better resale values even after a few years.

It’s a good idea to review the coverage you have on your vehicle with your broker to make sure that you’re not missing any coverage that could make sense for you.


Want to compare hybrid, electric, and regular vehicles on your policy? See the difference with a 3-minute quote right here.

Seriously, what else can you do in 3 minutes?

Boil half an egg?

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