Higher price tag, repair costs could drive up insurance premiums for EVs, report says - Canada News

Higher price tag, repair costs could drive up insurance premiums for EVs, report says - Canada News

Drivers may see higher premiums for their electric vehicles as the insurance industry adjusts to the shift from gas-powered cars to electric alternatives, a new report suggests. The price tag of EVs and higher costs for repairs are likelyto be key factors that could drive Canadian auto insurance higher in the coming years, similar to a trend seen in the U.K., the report published by Morningstar DBRS on Monday shows. EVs are computers on wheels and batteries are central to …