Electric vehicles in Canada cost 36.8% more to insure than gas cars
Magrath, AB (Oct. 1, 2025) – A new study by Surex has found that the cost of insuring an electric vehicle in Canada is more than one-third (36.8%) higher than that of a traditional gas-powered automobile.
“Electric or gas?” It is a question many drivers face when deciding on their next vehicle as electric vehicle ranges grow and prices become more competitive with gas cars. But insurance is often an overlooked factor when weighing the pros and cons of which vehicle to get.
The research team analyzed quotes on Surex from the past 12 months to determine the average cost to insure an electric vehicle in Canada compared to a gas vehicle.
Surex found that EVs, on average, cost more to insure. While a gas car costs an average of $2,289.27 a year to insure, for an electric vehicle, that figure jumped up to $3,131.43. That’s a 36.8% difference — a sizeable chunk for those looking to make the switch.
Key findings:
- The average electric car costs 36.8% more to insure versus an electric car.
- EVs are most expensive to insure in Alberta, with an average insurance cost of $3,342.93. They’re cheapest in New Brunswick, with an average cost of $2,769.36.
- Gas cars are most expensive in Ontario, with an average price of $2,464.18 and cheapest in Nova Scotia, with an average of $1,608.95.
For more details, read the full write-up: Electric vehicles in Canada cost 36.8% more to insure.
About Surex
Surex is Canada’s fastest growing online insurance marketplace. Quote, compare & buy online, with access to instant proof of insurance. The company was named on the Canadian Business’ Growth 500 list the last three years, as well as on IBC’s Top 10 Insurance Brokerages in Canada for 2021. For more information, visit www.surex.com.
SOURCE: Surex
Tags: electric vehicles (EVs), Surex