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5 key questions on electric vehicle insurance

1. Are there specific coverages for commercial electric vehicles?

There are no unique coverages required. As with regular auto insurance, the more inclusions you add to your policy, the better coverage you’ll have for your electric vehicle.

2. Does my insurance cover the vehicle battery?

The battery is covered just like any other vehicle part, like the body or air bags. In other words, it depends on the types of coverage you choose and the cause of the damage.

For example: Let’s say you’re involved in an at-fault accident that results in damage to your vehicle’s battery. If your commercial vehicle insurance includes Collision and upset coverage, the battery will be covered.

3. Is it less expensive to insure an electric vehicle than a conventional one?

Not necessarily. When calculating your insurance premium, your insurer will definitely take into account the fact that it’s an electric vehicle, but many other factors also come into play, such as: where the vehicle will be used, the number of accidents on your record, and the coverages and deductible you choose.

That said, some insurance companies offer special discounts to reward drivers who opt for eco-friendly vehicles. Desjardins Insurance offers a 20% discount on commercial electric vehicle insurance as part of its Green Savings program. Find out if your corporate vehicle is eligible!

4. Is my charging station also covered?

Charging stations that connect to a building’s electrical system
If your charging station is located in an insured building, it’s covered by the property insurance for that building.

Portable chargers
Portable chargers are considered vehicle accessories. The coverage in your car insurance policy will determine whether it’s insured.

Did you know? Many Desjardins caisse parking lots have electric vehicle charging stations available for you to use. They’re part of the Electric Circuit, the largest public charging network for electric vehicles in Québec and Eastern Ontario.

5. Does my insurance cover electrical damage resulting from vehicle charging?

Once again, it depends on what type of insurance coverage you have.

  • If damage occurs to your charging station, it might be covered by your property insurance, depending on your policy’s inclusions.
  • If damage occurs to your vehicle, you may have a specific inclusion in your commercial vehicle insurance to cover it. It’s up to you to find out! At Desjardins Insurance, this coverage insures you against all perils other than collision or upset. For example, if an electrical problem occurs when you plug in your vehicle and it causes a fire, the damage would be covered.

Other questions?

There are lots of good reasons to choose electric vehicles. If you're considering it and would like more information on the subject, check out the Government of Quebec’s clean energy transition website. It provides information about electric vehicles, charging systems and the financial assistance available.

Have you already decided to go green? Congratulations! Just make sure you get the right type of coverage before you hit the road. Speak to a Desjardins Insurance agent today and find out if your commercial electric vehicle is eligible for Green Savings. You could save up to 20%!

5 key questions on electric vehicle insurance

Electric vehicles have gone mainstream. With increasingly affordable prices and improved range, these fuel-less vehicles are appealing to businesses in more ways than one. But what about electric vehicle insurance? Does it take into account the unique features of electric technology? Is it affordable? Let’s find out.