Owners of electric cars will pay more insurance

Electric vehicle (EV) owners in Canada may see their insurance rates increase in the coming years.

Possible reasons for the increase in insurance premiums:

High cost of repairs: electric cars have more expensive repairs than gasoline and diesel cars due to specialized parts and complex technology.
More risks: Electric cars have more risks than gasoline and diesel cars due to battery fires.
Lack of data: There is still insufficient data on the accidents and risks of electric cars, which makes it difficult to determine accurate insurance rates.
The impact of this issue:

The increase in insurance premiums can prevent some people from buying electric cars.
This could be detrimental to the electric car industry.
Possible actions:

Insurance companies can determine insurance rates more accurately by collecting more data about electric cars.
The government can make the purchase of electric cars more affordable by providing financial incentives.
 

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