Electric vehicles (EVs) are becoming increasingly popular to help build a more sustainable global world. While many modern gas-powered cars, there are increasingly more electric and hybrid electric vehicles. Not only are auto manufacturers developing innovative technology, but there are also more government regulations and incentives that reward EV owners.
From saving money to producing fewer emissions, there are many benefits to owning an electric vehicle. Keep reading to understand the pros of being an EV owner.
What is an electric car?
An electric car is a vehicle that runs purely on electricity. It uses one or more electric motors that draw electricity from a battery pack. The EV car can either solely rely on a battery pack or a battery pack and an internal combustion engine. A car that uses a rechargeable battery and a combustion engine is known as a plug-in hybrid electric vehicle (PHEV).
Unlike gas-powered cars, you fuel an all-electric vehicle by plugging it into electric charging stations. EV charging stations include a power supply, charging cable, control board, and user interface. Many malls, restaurants, and parking lots offer public charging stations for electric vehicle owners.
PHEVs rely on gasoline alone but also have battery packs. The vehicle switches between using fuel and the battery's electric engine. Shorter car rides usually use energy from the battery pack, while longer rides may use fuel to help you travel further. Combining internal combustion engines and battery electric motors results in better fuel efficiency and reduced emissions.
Pros and cons of electric cars
Battery electric vehicles are growing in popularity every day, and you'll likely see a lot more of them on the roads now. Like conventional vehicles, EVs have pros and cons compared to gasoline-run cars. While considering the advantages, you should also understand the downsides to make a thorough decision when owning an EV.
Here are the top benefits to consider for electric and hybrid vehicles:
- Fewer greenhouse gas emissions
- More energy efficient than gas-powered cars
- Save money on fuel and maintenance costs
- Government incentives and tax credits
Here are some cons to consider for electric vehicles and PHEVs:
- May not travel as far
- Can be more expensive upfront
- Takes longer to charge
We'll explore each pro and con in detail for a hybrid vs. electric car.
Advantages of all-electric vehicles
Electric cars are energy-efficient
Energy efficiency refers to the amount of energy converted from the fuel source for powering the wheels. Electric motors are much more efficient than combustion engines as the energy conversion from board storage to turning the wheels is almost five times greater than gasoline. EVs convert most of the electrical energy from the grid to power at the wheel. Gasoline cars convert less than half of the energy stored to power the wheels.
Electric cars reduce emissions
Electric car batteries produce less emissions than cars that only use gas. Driving an electric vehicle produces zero tailpipe emissions, which helps reduce air pollution. Investing in the infrastructure for charging stations means less money spent on fuel. You can source electric energy domestically, reducing the emissions required to extract and transport fuel nationwide.
Electric cars require less maintenance
Electric vehicles require less overall maintenance than gas-powered vehicles. A smooth, quiet, high-performance electric motor powers the car. With fewer moving parts, you don't have to worry about performing oil changes to an internal combustion engine. While you should regularly maintain and take care of your car, all-electric vehicles require far less maintenance than their gas-burning counterparts and can be cheaper to operate.
Disadvantages of electric vehicles
Electric cars may travel less distance
On average, all-electric vehicles have a shorter battery range than fuel-powered cars. This means that a gas-powered car can travel further on the road than an electric vehicle before needing to be fueled. More fuel-efficient vehicles get an even higher driving range before fueling up. Electric car drivers may need to stop at a charging station earlier to recharge the battery.
Electric cars may take longer to recharge
Fueling your car at the gas pump doesn't take a lot of time. You park at one of the stations, select the fuel type you want, pay, and fuel your car. You can probably be in and out within five to 10 minutes. Fully recharging a battery pack can take hours if you don't have a fast charging station. Even a fast charger can take a while to recharge the battery fully. Electric vehicle owners should plan their route more carefully to avoid running out of battery, as they can't quickly stop at a gas pump or store backup fuel in the car.
Electric cars are more expensive upfront
All-electric and hybrid vehicles typically have a higher upfront cost than gas vehicles. The battery component costs more than a combustion engine to produce and is one of the most expensive parts of an electric vehicle. Electric cars rely on complex technology systems, such as the electric motor, battery management system, and charging infrastructure. Many of these technologies are still relatively new. Powering your vehicle also means higher energy costs if you have a charger at home.
While electric vehicles are more expensive upfront, you can save more money with one in the long run. It's less expensive to recharge the battery pack than to go to a gas pump. The battery life is also longer than regular engines, and they may come with warranties, so you don't have to pay for replacements. There may be a federal incentive or grant if you own an electric vehicle that can help make owning one less expensive.
Advantages of a plug-in hybrid vehicle
A plug-in hybrid vehicle shares similar benefits to an all-electric vehicle. They have fewer tailpipe emissions and better fuel economy than conventional cars. The switch between electric mode and using gas means you don't have to commit to an electric vehicle fully. It helps balance some disadvantages of owning an EV, as you don't need to worry as much about reduced mileage or being stranded on the road with no battery left.
Disadvantages of a plug-in hybrid vehicle
Like electric vehicles, hybrid cars can be more expensive to own upfront. The battery is expensive for manufacturers to produce, and plug-in vehicles also have combustion engines. It can take a while for you to fully charge the battery of a plug-in hybrid vehicle. However, a self-charging hybrid vehicle can recharge the battery by running the engine and regenerative braking.
Are electric cars better for the environment?
Electric cars produce zero tailpipe emissions. Electric vehicles are becoming more popular as climate change is a hot topic, and industries are moving towards greener, more sustainable practices. Burning fossil fuels like gasoline and diesel creates harmful byproducts, such as nitrogen dioxide and carbon monoxide. Gas-powered vehicles also emit carbon dioxide, which is one of the most common greenhouse gases.
Electric cars contribute to a sustainable future, running on a rechargeable battery motor. Charging your car uses renewable energy, which is much more sustainable than gas or diesel. As the electric grid becomes cleaner and sustainability technology improves, the infrastructure for electric vehicles will become cleaner.
Electric vehicle driving experience
Electric vehicles drive much smoother and have quieter engines than gas-powered vehicles. The electric motor offers impressive performance, accelerating almost instantaneously when you press the gas pedal. Unlike gasoline vehicles, you don't have to wait for the engine to gain speed or for the transmission to shift.
Are electric vehicles worth it?
All-electric and hybrid cars are great for environmentally-conscious drivers who value performance. Although there are disadvantages to owning an electric car, the benefits outweigh the cons. In the long run, you enjoy saving on fuel and maintenance costs and have a much smoother and quieter driving experience. The engine reacts quickly, making it responsive with peak torque to accelerate instantly.
You can opt for a hybrid car if you don't want to commit to a fully electric car. Hybrid cars have both electric motors and engines. They switch between electricity and gas depending on your speed. Hybrid cars typically run on a battery at lower speeds and use gasoline when you accelerate. They offer many of the same incentives as electric cars, and you don't have to worry about driving ranges, as you can easily make a quick stop at the gas pump.
Can electric vehicles give you long-term savings?
An electric car costs more upfront than a gasoline car. There are also some hidden costs of owning an electric vehicle you should consider, like preparing your home for an electric car and increased electric utilities bill. However, you can save money in the long run:
Government incentives
The government may offer incentives for electric vehicle owners to encourage drivers to buy them. For example, all Canadians qualify for up to $5,000 toward the purchase of a fully electric or hybrid car. Businesses investing in electric vehicles also qualify for tax support for eligible purchases. Government incentives can offset some of the expenses to make your car more affordable.
Save on fuel and maintenance
Hybrid and electric car maintenance requires less effort than gasoline cars. You don't have to worry about oil changes or fuel filters. Regenerative braking for self-charging hybrid electric vehicles prolongs the lifespan of brake pads as it uses the electric motor to decelerate. While you should still regularly maintain your car to ensure it's in good condition, you save a lot on maintenance fees.
Fuel costs for electric vehicles are also cheaper than gas vehicles. If you have an electric vehicle charger at home, you can plug in your car overnight and wake up to a full charge when you leave in the morning. If you charge during off-peak hours, where there are lower rates to use electricity, it can cost less to recharge your car. You can program your car to charge during these times to save money.
How to save money on EV insurance?
Auto insurance can be expensive. Insurance companies use several factors to determine how much you pay, such as your location, driving history, claims history, gender, and age. They may also look at historical trends to determine the frequency of claims for your area and category. As experts in the auto insurance industry, we can help you save valuable dollars to make insurance more budget-friendly. Here are some ways to save money on your electric vehicle car insurance:
Bundle insurance policies
Bundling insurance policies is one of the best ways to save money on auto insurance for EVs. You can bundle your auto insurance with a home insurance policy to get a discount.
Insure multiple vehicles with the same provider
If you have more than one vehicle, you can insure them with the same provider. It can save a few dollars on your policy each month, which adds up over time. Determine if your insurance provider provides a multi-vehicle discount.
Have a clean driving record
Being safe on the road and avoiding insurance claims is one of the best ways to lower your premiums. Pay attention while driving and take defensive driving lessons to show insurance companies you're safe. You can also equip your electric vehicle with the proper equipment to make it safer to drive, such as winter tires, backup cameras, blind-spot detection, and collision warning.
Ask for discounts
Insurance companies may provide discounts if you meet certain criteria. For example, senior discounts, student discounts, low-mileage discounts, and accident-free discounts. You may also get discounts if you've taken a defensive driving course or attended driving school. Some discounts require proof to confirm your eligibility. For example, you may have to prove you drive under a specific mileage each year to qualify for the low mileage discount.
Insuring your electric vehicle with BrokerLink
Reliable electric cars and hybrid vehicles are becoming increasingly popular as people become more environmentally aware and technology improves. Protecting you and your car on the road is essential. With a trusted expert from BrokerLink supporting you along the way, you can find the right electric car insurance policy. Some types of auto insurance you may need include:
- third-party liability insurance
- accident forgiveness
- collision insurance
- comprehensive coverage
- accident benefits
- uninsured motorist coverage
BrokerLink has an extensive network of quality partners to give you the optimal package for your budget and coverage needs. Our specialists work closely with you to learn your unique driving history and personal information. We give you a few of the best options to compare quotes and answer any questions you have so you can make the best choice.
Whether you're looking for Tesla car insurance quotes or quotes for another EV, we guide you from beginning to end. We have branches across Canada to better serve our different neighbourhoods and customers with their unique auto insurance needs. All you have to do is give us a call or visit one of our many branches to get started.
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Frequently asked questions about electric cars
Is it worth buying an EV?
Electric vehicles have many advantages, such as less maintenance, better fuel economy, no emissions, and long-term savings. With a quiet, smooth engine that responds well to good torque, you don't sacrifice performance.
Are there downsides to having an EV?
There are a few downsides to owning an EV. For example, there is less driving range than gasoline cars. Since you rely on EV charging stations, you may have to plan your route based on where you can charge the car during a longer road trip. They're also more expensive to own upfront.
How do you charge an electric vehicle?
You can have a home charger or go to a charging station. As electric vehicles become more popular, you can find chargers in parking lots, malls, restaurants, etc. It costs less to recharge your car battery than going to the gas pump, but it'll take longer. If you have a home charger, you can set it to charge your vehicle during off-peak hours or specific times to save some money and ensure your electric car has enough battery when you need to use it.
What is the range of electric cars?
Most electric cars have a range of 60 to 120 miles per charge. If you're driving long distances, you may have to plan your stops so you don't run out of battery. Gas cars have a greater range than their electric counterparts, and you can travel 300 to 600 miles on average with one single fuel tank. As gas stations are more common than electric charging stations, it's also much easier for you to make a quick stop almost anywhere you want to fuel up.
ront and ownership costs of your EV.
Is it cheaper to have an electric vehicle?
Electric cars have more upfront investment but provide more savings in the long run. You pay less for maintenance and have lower fuel costs. It takes longer for the battery to wear, and most electric cars have warranties, so you don't have to pay for the replacement. You can also apply for government incentives to offset some of the upf
How long does it take to charge my electric vehicle?
It depends on the type of charger you use. A Level 1 charger takes longer than a Level 2 charger to recharge the battery. You'll likely have to recharge sooner with a Level 1 than a Level 2 charger as well. If you have a charger at home, you can plug it into your car overnight to ensure the battery is full in the morning. It can take several hours for the battery to be fully charged. A fast charger recharges the battery much quicker, sometimes in less than one hour.
Does temperature affect my electric vehicle?
In colder temperatures, an EV's range drops drastically. Drivers may experience reduced battery performance and reduced driving range. You may also experience longer charging times. Warming up your car while it's still plugged into the charger before driving can help increase the car's temperature. It improves the battery performance as you won't have to rely on battery power to heat the car.
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