Hybrid Car Insurance

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Do you drive a hybrid car in Canada? Then you may be wondering what kind of car insurance you need. BrokerLink is here to ensure you find the best possible coverage for your hybrid vehicle. Keep reading to learn about hybrid auto insurance in Canada.

BrokerLink compares rates from a wide range of providers, ensuring you get the best deals available.

What is hybrid car insurance?

Hybrid car insurance is a type of coverage offered by insurance companies to drivers who own hybrid vehicles. Hybrid vehicles are ones that operate on both gas and electricity, offering the best of both worlds. Because hybrids are unique from traditional gasoline vehicles and electric cars, special coverage is required to ensure owners are comprehensively insured from certain risks on and off the road.

Why you need hybrid car insurance?

Auto insurance is mandatory for all Canadians who wish to operate a motor vehicle on public roads in Canada. Whether you drive hybrid vehicles, electric cars, gas, or diesel, to operate a motor vehicle on public roads, you'll need to purchase insurance coverage. However, because insurance is provincially regulated, the types of coverage and limits you need will vary.

For example, if you live in British Columbia, Ontario, and Alberta, your minimum liability requirement is $200,000, whereas in Quebec, you only require $50,000 in coverage.

Car Insurance for hybrid vehicles

As mentioned, auto insurance is a legal requirement in Canada. Each Canadian province and territory sets its own regulations on car insurance, so it’s up to you to ensure your policy meets the minimum requirements in your region. Though coverage requirements vary, most include the same key components as Ontario’s mandatory insurance: uninsured automobile coverage, accident benefits coverage, and third party liability coverage. Beyond the mandatory insurance coverage, drivers may choose to purchase additional insurance for their hybrid vehicles. We break down each of the auto insurance coverages for hybrid cars below.

Mandatory

Optional

Third-party liability car insurance is mandatory in all provinces and territories across Canada. It provides legal protection if you injure someone else or cause property damage to another person’s property on the road. This type of coverage can help pay for medical expenses associated with bodily injuries or repairs of damaged cars, as well as any applicable legal fees and settlements up to the coverage limit. For example: In Ontario, drivers are required to hold a minimum of $200,000 in third-party liability coverage at all times.

[Not mandatory in Ontario] Direct compensation - property damage coverage protects an insured vehicle and its contents against property damage, so long as the policyholder is not at fault for the collision that caused said damage.. Under this type of coverage, the insurance provider typically pays for the repair or replacement of your car directly.

[Not mandatory in Alberta] Uninsured motorist coverage is designed to protect you and any passengers in your vehicle if you get into a collision with an at-fault driver who is either uninsured or underinsured. This type of coverage can also protect the policyholder in the event of a hit-and-run. This hybrid car insurance policy is mandatory in all provinces and territories.

[Not mandatory in Newfoundland] If you, a passenger, or a pedestrian require medical attention following a collision, accident benefits coverage can help. This type of coverage is provided no matter who was at fault for the accident and it can help cover a wide range of medical expenses like prescription medications, physical therapy, or rehabilitation, as well as loss of income. Note that accident benefits coverage is mandatory in all provinces and territories except Newfoundland.

If you get into an accident with another vehicle or object on the road, no matter who is at fault for the accident, collision car coverage can help cover the costs. Under the collision coverage section of your policy, you can receive compensation to help pay for any property damage that resulted from the accident, such as a damaged car.

Hybrid car drivers may find comprehensive coverage worthwhile. This optional type of coverage protects against a wide range of circumstances other than collisions. Sometimes referred to as parked car insurance, comprehensive car coverage will compensate you in the event of damage caused by an insured peril. Examples of insured perils are theft, vandalism, water damage, fire, riots, falling objects, and more.

One final type of optional car insurance coverage popular among hybrid vehicle drivers is accident forgiveness. Accident forgiveness is additional coverage that can be added to your hybrid car insurance policy as an endorsement, to protect your driving record and to help prevent your insurance premium from increasing if you have an at-fault accident claim.

If you're buying a new car, adding this coverage to your policy is worth considering. It ensures you're covered for the full value of your vehicle without factoring in depreciation. That means if your car is stolen or totalled, you'll be reimbursed for the cost of a brand-new vehicle—not just what it's worth after wear and tear.

If you ever get into an accident and your car needs repairs, loss of use coverage has your back. While your car is in the shop, this coverage helps pay for other ways to get around—whether that's hopping on public transit, using ride shares, or renting a car. It can be a real lifesaver, especially if your car ends up being out of commission for days or even weeks.

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How to save on your hybrid car insurance rates

Hybrid car owners will be happy to know that it is possible to save on their premiums. Here's what you'll need to do:

Discounts

Pay for your car insurance premium upfront

Rather than making monthly insurance payments, consider paying for your coverage upfront to avoid monthly processing fees.

Bundle your home and auto insurance

If you have other insurance policies with a provider, consider bundling your coverage. Insurance companies often provide a discount when you have more than one policy with them.

Savings Options

Work with an insurance broker

Brokers can help you compare auto insurance quotes, unlock discounts, and customize your coverage for a more personalized insurance experience.

Compare electric and hybrid car insurance quotes

Regardless of whether you work with a broker or not, comparing hybrid car insurance quotes is the best way to get an affordable rate without compromising how much protection you get.

Increase your deductible

Increasing your deductible, which is the amount you pay to your insurance company when filing a claim, can lower your premium slightly.

Ask about insurance discounts

Did you know that driving a hybrid car could make you eligible for an auto insurance discount? To incentivize drivers to invest in eco-friendly vehicles (e.g. hybrid and electric vehicles), some provinces require insurance companies to offer auto insurance discounts to drivers of hybrids and EVs. For example, in Ontario, hybrid vehicle drivers can save up to 5% on car insurance (in addition to all the money you will be saving on gas by driving a hybrid).

What factors impact insurance costs for hybrid vehicles?

Insurance companies consider many factors when calculating insurance premiums. Here's a closer look at some of these factors:

The higher price tag

Hybrid vehicles cost roughly 20% more than other cars, which can impact premiums as they will be more expensive to replace.

The advanced technology

Hybrid vehicles use new, more advanced technology, which can make them harder and more expensive to repair or maintain.

CLEAR rating

Hybrid vehicles tend to have a higher CLEAR rating, which means the cost of replacement parts is higher. In addition, mechanics must have specialized training to repair hybrid vehicles.

Driver age

Young drivers tend to pay more for insurance than older, more experienced drivers, given their increased risk of being involved in a car accident.

Driving history

How long you've been driving, as well as your past insurance claims, traffic tickets, and other possible infractions determine how risky it is for an insurance company to insure you. Ultimately, having a clean driving record is the best way to save on your insurance costs.

Where you live

Hybrid insurance costs are also determined by where you live. For example, living in a busy urban area with more traffic and higher crime rates can lead to higher costs compared to those living in rural areas.

The type, make, and model of the hybrid car

There are two main types of hybrids on the market today - Plug-in Hybrid Electric Vehicles (PHEV) and Hybrid Electric Vehicles (HEV).

Does hybrid car insurance differ from standard car insurance?

The good news is that hybrid car insurance is the same as any other type of car insurance. The same mandatory coverage types are required and the same optional coverage types will be available to you. The only difference is that your insurance company will have a few more factors to consider than with a traditional, gas-powered vehicle.

Is hybrid vehicle insurance mandatory in Canada?

Yes, car insurance is mandatory for all drivers in Canada, regardless of what type of vehicle you drive. Therefore, hybrid vehicle drivers must make sure to purchase valid insurance policies before getting behind the wheel.

What insurance company offers the best hybrid car insurance?

No one insurance company in Canada offers the best hybrid car insurance rates. Insurance rates between drivers, so the best way to ensure you’re receiving a great rate on your hybrid vehicle insurance policy is to work with a broker.

Hybrid vs gas vehicles, which is better?

Contemplating hybrid vs gas? It depends on your driving needs and habits. If you want a more sustainable vehicle that offers tax breaks, you may want to consider a battery-powered car that has gas capabilities. In contrast, if you live in an area with low gas prices and aren't as concerned about the environment, gas-powered vehicles will do just fine.

How long do electric car batteries last?

Electric car batteries last anywhere between 12 to 15 years before they will need to be replaced.

How far can an electric vehicle go on one charge?

An electric car can go anywhere between 200 miles and 500 miles on a single charge before it will need to be plugged in.

Does hybrid and electric car maintenance cost more than a standard gas vehicle?

So, what can you expect in terms of hybrid and electric car maintenance costs? Hybrid models use a gas engine and an electric motor. Because of this, hybrid cars can experience a higher cost of maintenance than traditional gas engines. That said, electric motor vehicles still require a lot of the same maintenance tasks that a standard gas and hybrid car does. So, it really depends on the model you have, where you live, and how well you take care of your car throughout the year.

Does Tesla car insurance have the same types of coverage as hybrid car insurance?

Tesla car insurance is similar to the coverage offered for hybrid cars and vehicles with a gas engine. While motorists will need to purchase minimum coverage and policies mandated in their province, they can purchase optional policies to supplement their overall protection level.

Get affordable insurance for electric and hybrid cars with BrokerLink

Looking for affordable hybrid car insurance? BrokerLink can help! With access to some of Canada's top insurance providers, our experienced brokers are able to customize your coverage options, unlock discounts, and compare quotes, so you can find the best options available for your needs and driving habits. Unsure whether you want a hybrid vs electric vehicle? We can help answer your questions!

To work with BrokerLink, come visit us at one of our many locations across Canada! If we're not in your neighbourhood, you can contact us over the phone or by email. And, if you're simply browsing for options, get free hybrid car insurance quotes within minutes using our online quote tool!

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