Electric Vehicle Insurance Mississauga
Insuring Electric Vehicles and Teslas In Mississauga, Burlington and Oakville
Ambroziak & Rao has been insuring electric vehicles and Teslas in Mississauga since they became popular back in 2011. When Tesla entered the Canadian market, many instantly fell in love. The issue at first was that they were very expensive to purchase. When the Tesla Model 3 finally arrived in Canada in May 2018, it became an instant hit and sold around 14,750 units for all of 2018.
At first, insurance for electric vehicles (EV’s) and Tesla’s was fair, but over the years, the price kept increasing. Today, certain electric vehicles are some of the most expensive cars to insure in the GTA.
If you are purchasing an electric vehicle or Tesla, contact our team for an EV auto insurance quote at 905 366 0066. Our office is located at 250 Dundas St W Suite 408 Mississauga ON L5B 1J2.
Full Coverage or Third-Party Only
Choose which coverage suits you for your EV.
Bundle Discount
Combine Your EV or Tesla Insurance with your home and get maximum savings.
EV For Business Use
Purchasing your Electric Vehicle or Tesla in a company name for company use? We can help!
Electric Vehicle For Uber or Rideshare
Many Uber drivers choose to purchase a Tesla for fuel savings. Call for a EV Uber quote today!
Electric Vehicle and Tesla Auto Insurance Quote
T: (905) 366 0066
F: (905) 276 5373
250 Dundas St W Suite 408 Mississauga ON L5B 1J2
Why Are Tesla and Electric Vehicle Insurance Rates So High?
Tesla’s and other EV brands have a lot of benefits. They have some of the best technology a car can have from self driving to cool games on the tablet. They also include incredible drivers assistance features which make Tesla Model 3 and the Model Y the safest cars on the road.
Naturally, most savvy buyers would assume that those safety features should reduce your auto insurance rates especially in crowded cities like Mississauga and Oakville. The issue with all these advanced features is that they are very costly to fix in the event of an accident.
It’s true that the chances of the driver causing an at fault accident are reduced, but that doesn’t mean other drivers you share the road with won’t hit you. And unfortunately, when enough accidents happen in a city, everyone’s rates go up. Below, are examples of repair costs for a 2024 Tesla Model Y. These are estimate repair costs for Tesla approved shops in Mississauga:
Minor cosmetic fixes: $500-$2000. This is usually just paint and scratches.
Minor collisions with sensor replacements $3000-$8000.
Major accidents with structural damage or battery-adjacent damage can exceed $20,000.
As you can see, even a minor fender bender which involves replacing sensors can end up costing the insurance company a lot to fix. There are also no cost-cutting short cuts to take since these sensors are used for self-driving, they need to work perfectly. Hourly labor rates are also very high for EV approved shops since it requires specialized training and tools.
In many cases, insurance companies choose to call the claim a total loss and pay the client out.
These are the factors contributing to high EV and Tesla auto insurance rates in Mississauga and surrounding cities. For an EV quote, please call our team at 905 366 0066. We have many auto insurance companie offering EV insurance and can help you find the best rate.
“Get the best rates for your EV or Tesla!”
How To Lower Your EV Insurance Rates in Mississauga
As discussed earlier, the cost to repair a Tesla or EV can become expensive very quickly. Because of this, EV insurance rates are climbing year over year in cities like Mississauga, Burlington and Oakville. For this reason, it’s very important to do everything you can to keep your EV and Tesla insurance rates low. Below are the most important things you can do to keep your EV rates as low as possible:
- Shop around. You have heard this before and it’s true. The first line of defense against rising EV prices is to shop around and see which company offer the best EV rates for your driving profile. Once you know which company offers competitive rates, you can move on to the next steps. The simplest and most efficient way to do this is to speak with a Mississauga insurance broker who has access to the best Tesla and electric vehicle insurance companies and can compare rates for you.
- Ensure you have all the discounts included. Discounts such as the Green Vehicle discount, Bundle discount and Multi-Vehicle discount are essential to keep costs low. We go into a lot of detail about what discounts to look for on our Mississauga Auto Insurance page.
- Maintain a clean record. This may be easier said than done, but its extremely important for keeping your EV insurance low especially in expensive cities like Mississauga. The moment you have an at-fault accident on record, the insurance companies will increase your rates significantly for an EV or Tesla.
The team at Ambroziak & Rao has been insuring EVs and Teslas for many years and one of our very own brokers (Harish Rao) owns one. You can call our team at 905 366 0066 and we will do our best to help you get a good EV auto insurance rate.
What Endorsements and Coverage Should I Add To My Electric Vehicle Insurance Policy?
Choosing what coverage limits and endorsements you would like to have on your EV insurance policy can be very personal and budget dependent. Depending on how much you can afford and how old your vehicle will factor into what coverages you should get. For a customized and tailor made quote, it’s always best to speak with a licensed EV insurance broker and have a discussion with them. Below are a couple options that exist that may be a good idea specifically for EVs:
- Full coverage (Comprehensive and collision). Since Evs and Tesla are expensive to repair, it may be a good idea to purchase both collision and comprehensive coverage options. If your vehicle is financed or lease, you will have to purcahse these coverages as per your finance/lease agreement.
- OPCF 43. IF you are buying your vehicle brand new, you should purchase an OPCF 43 endorsement as that ensure you do not loose depreciation for up to 24 months in the event of a total loss. Electric vehicles can depreciate quickly so this coverage is important.
- High OPCF 20 limits (Rental car coverage). Teslas and other EVs can take longer to fix in the event of a claim so its a good iea to increase your rental car coverage limits.
Which Electric Vehicles Does Ambroziak & Rao Insure?
At Ambroziak & Rao Insurance Brokers, we insure all electric vehicles. Some of the most popular Ev’s include:
- Tesla Model Y
- Tesla Model 3
- Nissan Leaf
- BMW I4 and IX
- Hyundai IONIQ 5
- Hyundai IONIQ 6
- Kia EV6
- Audi E-Tron
- Porsche Taycan
- Volkswagon ID.4
- Cadillac LYRIQ
- Polestars
…and many more!
Call our team at 905 366 0066 for an EV auto insurance quote!
Customer Success
Margaret Bara
T: (905) 366 0066
F: (905) 276 5373
E: mbara@pbnet.ca
Customer Service
Anu Kaur
T: (905) 366 0066
F: (905) 276 5373
E: akaur@pbnet.ca
Customer Success
Teresa Klubinski
T: (905) 366 7530
F: (905) 276 5373
E: teresak@pbnet.ca
Director & Lead Broker
Lidia Ambroziak
T: (905) 276 9597
C: (416) 737 9647
E: lidiaa@pbnet.ca
Director & Lead Broker
Harish Rao
T: (905) 276 9495
C: (416) 420 2383
E: hrao@pbnet.ca
Why Ambroziak & Rao?
What sets us apart from everyone else? Our dedication to personalized service, professional advice and coverage options to create the right policy for your electric vehicle and your budget.
Dedicated EV Insurance Broker
You will be assigned a licensed insurance broker who will offer the best rates and help service your insurance policy. Our Brokers understand electric vehicles and have been insuring them for years.
Fast Quotes
We understand that sometimes, EVs or Tesla's are purchase quickly and online. You will need insurance to pickup the vehicle and we will help you secure it quickly.
Contact
Ambroziak & Rao prides itself on the communication it has with clients. We can be contacted via email, phone, text and respond very quickly! 905 366 0066.
Best Rates
As insurance brokers, we have access to many insurance companies with EV and Tesla offerings which means we can offer the best rate for you!
Ambroziak & Rao Insurance Brokers Reviews
Frequently Asked Questions
We are more than happy to answer any and all of your Mississauga insurance related questions. Speak to one of our licensed insurance brokers today!
?
Yes, Ambroziak & Rao is a RIBO licensed insurance brokerage operating under license 3428. You can search us at the RIBO Brokerage Search.
The first step before creating an insurance policy is creating a quote. One of our experienced Mississauga insurance brokers will happily help you get competitive EV quotes from the largest insurance carriers in Canada.
Once a quote is completed and you are happy with the coverage and price, our team will create the applications, confirm your records and send the applications over to your email for e-signing.
Once signed, our team will review the policy and issue it with the insurance company.
Making changes to your insurance policy has never been easier!
Contact our team at 905 366 0066 and one of our customer success managers will happily assist you.
If you would like to call our team at Ambroziak & Rao Insurance Brokers, you can call 905 366 0066, or visit our Mississauga office at 250 Dundas St W Suite 408 Mississauga ON L5B 1J2.
If you will be driving on public roads, you must must have an active auto insurance policy on your EV regardless if it self drives or not. Failing to have auto insurance can lead to major fines and increased future insurance costs.