Insurance Likely to Cost More for EV Owners: Report

An electric vehicle is charged at a Tesla charging station in Ottawa on July 13, 2022. The Canadian Press/Sean Kilpatrick

As Canada transitions to electric vehicles, the costs of insurance may go up, a recent data analysis says.

Based on data from the UK, Morningstar DBRS notes that as drivers switch to EVs, insurance companies will also be adjusting prices.