Insurance of Electric Vehicles

In the forward-thinking province of British Columbia, the shift towards greener transportation is more evident than ever. Nearly one in five new vehicles registered in BC is a zero-emission vehicle (ZEV), setting the pace nationwide. With an impressive 17.6% of new registrations being new zero-emission vehicles, BC stands out as a leader in embracing a sustainable future. In 2021 alone, a staggering 86,032 electric vehicles were registered in Canada, accounting for 5.3% of the total. As the trend towards electric and hybrid vehicles rises, so does the need for specialized car insurance.

At Goldleaf Insurance, we understand the unique nuances of insuring these cutting-edge vehicles. Whether you drive a hybrid or electric vehicle or still navigate with a gas-powered car, we’ve got you covered. Our team of Surrey’s auto insurance brokers can outline the benefits, coverage, and insights on insurance for electric vehicles, so you can join British Columbia’s drive to reduce greenhouse gas emissions — and save money.

Goldleaf Insurance Brokers | Life, Auto & Commercial Insurance

Address: 13049 76 Ave #102, Surrey, BC V3W 2V7

Phone: (604) 591 6200


Open hours:

Monday – Friday: 9 a.m. — 11 p.m.
Saturday: 9 a.m. — 10 p.m.
Sunday: 9 a.m. — 9 p.m.

Exclusive EV Insurance Specials at Goldleaf

Transitioning to electric vehicles is not only a commendable step towards environmental conservation but also an opportunity to save on your insurance coverage. At Goldleaf, we deeply appreciate your eco-conscious choices and are committed to rewarding you for them.

  • Drive Green, Save Green: Insure your electric vehicle with Goldleaf and automatically qualify for our exclusive EV Discount, slashing up to 10% off your premium insurance. Because making eco-friendly choices should come with perks.
  • Never Stranded with a Dead EV Battery: We’ve all had those moments of unexpected battery drainage. With Goldleaf, if your EV battery lets you down, we won’t. Enjoy complimentary tows to the nearest charging station, ensuring you’re back on the road in no time.
  • Bounce Back with Our Total Loss Subsidy: Accidents can be devastating, especially if it leads to a total loss. But here’s a silver lining: Should your vehicle face a total loss, we offer a $2,000 grant to aid in your upgrade to another electric vehicle. Unlike traditional gas-powered cars, EVs come with added benefits, and we ensure our insurance offerings mirror that sentiment.

At Goldleaf, our insurance discounts and tailored policies are designed with your unique needs as an electric vehicle owner in mind. Choose wisely, drive green, and let us take care of the rest.

EV car insurance concept

What Does Our Electric Vehicle Insurance Cover

In British Columbia, electric car owners need to be both compliant and protected. Here’s a breakdown:

Standard Coverages

Every vehicle in British Columbia, be it a hybrid or a fully electric vehicle, requires ICBC Basic Autoplan insurance. This mandate ensures every driver is shielded with a foundational level of protection. This includes coverages like bodily injury liability, personal injury protection (accident benefits), property damage liability, collision, comprehensive, and uninsured/underinsured motorist provisions. Whether you drive the latest electric model or a conventional gas-powered car, these basics are a must.

Unique EV Coverages

Electric vehicles, with their specialized components, need particular attention. The EV battery, being the heart of your electric car, requires specialized coverage. Accidents, natural calamities, or unexpected faults can impact its performance. To cater to this, many insurance providers offer tailored protections for charging cables, stations, and notably, EV battery protection. If you’ve installed a charging station at home, remember to update your home insurance to encompass this equipment. Electric car insurance can offer peace of mind to electric car owners, ensuring your prized possession is comprehensively protected.

Optional Coverages

Beyond the mandatory ICBC Basic Autoplan, there’s a spectrum of optional coverages for those desiring extra protection. Although ICBC provides foundational coverage, many insurance providers present personalized options that could better cater to the needs of hybrid and electric cars. Our team can help you navigate these options, including Collision, Comprehensive, Loss of Use, Specified Perils, Extended Third-Party Liability, Extension Underinsured Motorist Protection, Rental Vehicle Coverage, and New Vehicle Protection. It’s all about finding the optimal balance of coverage and cost.

Additional Factors – What Else Affects the Cost of EV Auto Insurance

While the rise of electric cars has been notable, electric car insurance costs can still be a puzzle for many. Your premium for an electric vehicle might be on par or slightly higher than traditional vehicles. However, many insurance providers offer discounts for driving a green car—savings that could reach up to 10% on your premium. At Goldleaf Insurance, we can provide electric car insurance quotes tailored to your specific needs, ensuring you drive your electric or hybrid vehicle with peace of mind and savings in your pocket.

Remember, the final price for electric cars depends on numerous factors. Let us guide you through the ins and outs of electric vehicle car insurance in British Columbia.

How to Save on Electric Car Insurance in British Columbia

Customer with auto insurance broker after agreeing to terms of ev auto insurance

In British Columbia, maximizing savings on electric car insurance involves a blend of smart choices and leveraging local incentives. Firstly, work with insurance brokerages like Goldleaf that offer specialized EV discounts, potentially reducing your premium by up to 10%. Additionally, many insurers provide discounts for safe driving records. Drivers can also save between 5% to 15% on certain coverages with ICBC’s newest distance-based discount. Installing certified anti-theft devices can also yield savings. Don’t forget to bundle your auto insurance with other policies (like home insurance) for further discounts. Finally, regularly shop around and compare electric car insurance quotes in BC, ensuring you’re always getting the best deal for your electric vehicle coverage.

Your choice of electric car also matters. Electric vehicles often have higher insurance costs than their gas-powered counterparts, but some models can be more budget-friendly. While the national average for full coverage car insurance is $2,014 and $622 for minimum coverage, full coverage for a Chevy Bolt is slightly below this average. Conversely, luxury cars like the Tesla Model X see premiums more than double the national average. So, the type of electric or hybrid car you choose will affect the cost of your car insurance coverage.

Why Choose Us

Choosing Goldleaf Insurance means tapping into Canada’s most proactive, independently-owned insurance brokerage, specializing in electric vehicles. At Goldleaf, we prioritize your unique EV insurance needs, offering tailored advice to ensure optimal coverage. Not only are we committed to finding the best policy for you, but we also hold your personal information with the utmost confidentiality and security. So, for EV drivers seeking precise coverage matched with unparalleled privacy standards, Goldleaf Insurance is your trusted partner on the road to protection.


What are the electric car incentives in BC?

In BC, there are various incentives for electric cars, including reduced car insurance rates, access to carpool lanes, and rebates such as BC’s Go Electric program.

Are electric cars more expensive to insure than gas vehicles?

Yes, electric cars can often have higher insurance premiums than gasoline-powered vehicles, though the exact rate varies based on the model and other factors.

Does car insurance cover battery replacement?

Some insurance companies offer discounts or specific coverage for EV battery replacement, but it’s essential to review your policy or consult your provider.

What happens to electric car batteries in a crash?

In a crash, hybrid or electric cars’ batteries can be damaged, potentially causing chemical leaks or, in rare cases, fires, making proper handling and disposal critical.

How do you tow a Tesla with a dead battery?

Towing a Tesla with a dead battery requires specialized flatbed towing to avoid damaging the vehicle’s drivetrain.

How do you take care of your EV's battery?

To prolong the life of your EV’s battery, avoid full discharges, ensure moderate charging speeds when possible, and protect the vehicle from extreme temperatures.