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Sunny Yadav updated on 29 February 2024

If you're a Tesla owner in Canada, getting the right Tesla car insurance is more than just a necessity—it's a smart choice for protecting your high-tech ride.

But what exactly does a Tesla car insurance cover? What are the best plans designed specifically for the unique needs of your electric vehicle? Read on!

In this guide, we take you through everything you need to know about Tesla car insurance in Canada, from coverage to the costs, and beyond. Use our free tool to compare the best Tesla car insurance quotes personalized to your unique preferences right here.

Tesla Car Insurance Canada: 5 Key Takeaways

  1. Customized for Tesla: Aviva's InsureMyTesla caters specifically to Tesla's unique needs.
  2. Special Features Covered: Insurance includes protection for Tesla-specific components.
  3. Wide Choice: Multiple insurers in Canada offer car insurance for Tesla.
  4. Higher Premium Reasons: Luxury status and specialized tech contribute to higher costs.
  5. Rates Vary: Costs depend on the model, location, driving history, and coverage level.

Who offers Tesla Car Insurance in Canada?

Tesla car insurance, especially through its InsureMyTesla program in collaboration with Aviva Car Insurance in Canada, is designed to offer comprehensive coverage tailored specifically to the unique needs of Tesla vehicles. While the specific coverage details can vary based on the policy and location, Tesla car insurance typically includes:

  1. Collision Coverage: This covers damages to your Tesla in the event of an accident with another vehicle or object, regardless of who is at fault.
  2. Comprehensive Coverage: This protects against theft, vandalism, fire, natural disasters, and other non-collision damages.
  3. Liability Coverage: It covers bodily injury and property damage that you may cause to others in an accident. This is a mandatory coverage in Canada.
  4. Accident Benefits: This coverage offers benefits to you and your passengers in case of injury or death in an accident, regardless of fault, including medical expenses and loss of income.
  5. Coverage for Electric Vehicle Specific Components: Including the battery and electric motor, which are essential and expensive parts of electric vehicles.
  6. Roadside Assistance: Many policies include roadside assistance, providing help if your Tesla breaks down or you need a tow.
  7. Coverage for Tesla-specific features: Such as the wall connector and key fob, ensuring that the technology that makes your Tesla unique is also protected.

It's important to note that while Tesla partners with Aviva in Canada to offer the InsureMyTesla program, other insurance providers also offer car insurance for Tesla vehicles.

These policies may vary in terms of coverage, exclusions, and premiums, so it's beneficial for Tesla owners to shop around and compare offers from different insurers to find the coverage that best fits their needs and budget. You can do it right here using our free comparator tool below. Get Tesla car insurance quotes from top providers right here.

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What other companies offer Tesla Car Insurance in Canada? 

While direct Tesla car insurance like what's offered in the US is not available, there are a few other insurance companies that offer insurance for Tesla car owners in Canada, including:

Pembridge Insurance: Pembridge offers a Tesla insurance program that is available in most provinces in Canada. You can get several discounts, including a discount for having a Tesla home charging station.

Here are some other major insurance companies offering coverage for electric vehicles like Tesla:

  • TD Car Insurance: Offers green vehicle discounts for electric cars like Tesla.
  • Desjardins Car Insurance: Provides discounts for electric vehicles and has a good reputation for customer service.
  • Belairdirect: Offers competitive rates and online quote tools.
  • Sonnet Car Insurance: An online-based company with competitive rates and a focus on technology.

Good to know

Some providers also offer green vehicle discounts for Tesla vehicles and other automobiles that promote green sources of energy.

Before you choose a car insurance policy from any provider, compare it with other options. Use our comparator to compare car insurance quotes based on your unique needs right here.

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Is Tesla Car Insurance expensive?

Compared to the average car, Tesla car insurance in Canada is generally considered more expensive.

Here's why:

  • Higher repair costs: Teslas are known for their advanced technology and unique components, which can be expensive to repair or replace after an accident. This leads to higher claim costs for insurers, resulting in higher premiums for drivers.
  • Limited repair options: Tesla repairs often require specialized technicians and facilities, which can be limited in availability compared to traditional repair shops. This can further drive up repair costs and insurance premiums.
  • Luxury car classification: Some insurance companies classify Teslas as luxury vehicles, which typically come with higher insurance rates due to their assumed higher value and risk profile.
  • Newer technology: While Teslas boast advanced safety features, some insurers might lack sufficient data on their long-term impact on accident rates, leading to cautious pricing until more data becomes available.

How much is car insurance for a Tesla?

Just like any other car insurance, the Tesla car insurance cost can vary significantly depending on several factors, such as:

  1. Location: Insurance rates vary significantly by state/province due to factors like accident rates, repair costs, and regulations.
  2. Driving history: A clean driving record can lead to significant discounts, while accidents, tickets, or DUIs can significantly increase your premium.
  3. Model: Different Tesla models have varying costs depending on factors like repair complexity and safety features.
  4. Coverage level: Choosing higher coverage limits and comprehensive/collision insurance will increase your premium.

The cost will also vary based on your chosen insurance company. Different companies offer different rates and discounts. Tesla Insurance, where available, offers competitive rates based on real-time driving behavior.

You must get personalized quotes to get the best deal. You can do it right here. Use our free tool to compare Tesla car insurance quotes and start saving now.

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Here are some averages to help you get an idea of Tesla car insurance cost:

  • Tesla Model 3: $2,574 per annum
  • Tesla Model Y: $2,648 per annum

Good to know

Insurance for Model Y is slightly more expensive than Model 3!


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Sunny Yadav Copywriter

Sunny has over six years of experience curating engaging content spanning across industries. Specifically in finance, his expertise is insurance reviews and lending and investment topics.