Why Your Next Car Purchase Should Be Electric
The design of Electric Vehicles aim to reduce the harm caused by gasoline combustion that takes place in the engines of automobiles that run entirely on gasoline powered engines. Electric cars, also known as electric vehicles or EV generate their power through an electric battery instead of an engine powered by gasoline.
The electric motor installed in the electric cars uses the energy stored in the rechargeable batteries located in the car’s engine compartment. The motor gets its energy from a controller that regulates an amount of power according to the driver’s use of the accelerator. The batteries are rechargeable through electricity used in households, although there are charging stations throughout Ontario.
Electric cars have been increasing in numbers across Canada since 2016 as reported by FleetCarma, Tesla is leading the way in electric cars sold however most of the other models are increasing in popularity as well.
A doubt that still gets people wondering whether they should opt for an electric powered car or not is that whether they work well and cope up with cold temperatures. In the millennial age, this is not the case as the automobile developers have introduced vehicles that are able to perform at the maximum level in all seasons regardless of the weather condition (excluding natural disasters or extreme conditions like excessive snow).
Charging Your Electric Car
Electric vehicles charge their battery in three ways:
- Plugging them into the charging stations available across Ontario, most are found along highways (fastest time to charge approx. 20-40min)
- Purchasing and installing a charging station at your own home (approx. 8 hours to charge)
- Plugging the vehicle into any power outlet in your home or garage (slowest time to charge approx. 15-20 hours)
Some people install charging stations in their garages that may result in an increased electricity bill but will save you the cost and effort to go to a charging area every time the batteries require a recharge. Only some charging stations are free, Tesla does offer free charging for the Model X and Model S but only select Model 3 receive free charging if you purchase it using a specific referral code.
In fact, firms and organizations in Ontario have installed or have plans to install charging stations at their workplaces with the aim of making the journey from home to work much easier. This has benefited both the residents of Ontario and the employees that look forward to purchasing an electric vehicle.
Tesla Insurance vs Electric Vehicle Insurance
Popular automobile manufacturers like Tesla have introduced installment plans for the company that has made the purchase of electric cars even easier. Tesla partnered with Aviva Insurance in Canada to provide specific insurance to Tesla vehicles only. Take a look at what they offer for Tesla insurance:
- New Car Replacement: In case a car is completely wrecked or involved in an accident that has highly damaged the car, it will be replaced by a brand new car.
- Guaranteed rates for a year.
- Authentic replacement parts.
- Around the clock car reimbursement to pay the rental costs for as long as the Tesla is completely fixed.
Duliban Insurance Brokers have introduced a custom group plan for electric vehicle owners as a smarter alternative to Tesla Insurance. Partnering with the Electric Vehicle Society of Ontario allows Duliban Insurance Brokers to provide members special discounts of up to 35% in savings off their home and auto insurance. The benefits of using this group plan is:
- The same features as Aviva Tesla Insurance program
- This plan covers all electric vehicles including Battery-electric Vehicles (BEV), Plug-in Hybrid Electric Vehicles (PHEV) and all Tesla models
- Discounts are provided to your home insurance as well when you choose to bundle it with your electric vehicle
- Home charging stations are covered
- Become a member of the Electric Vehicle Society of Ontario
You can obtain an insurance quote for your electric vehicle through Duliban Insurance Brokers in several ways: You can visit our electric car insurance page, use their online chat or give them a call at 1-855-385-4226 to see if you qualify for the 35% discounts.
So should you buy an electric car in Ontario?
Keeping in mind the weather conditions and the traffic of Ontario, electric cars are definitely an ideal option to invest your money in. Alongside, lets say you own a gasoline vehicle and you have to commute around 50 kilometers every day, you have to stop at a gas station every now and then with the prices that seem to only be going up.
Another selling feature to purchasing an electric vehicle over their gas powered counterpart is the electric vehicles hold their value longer. When you purchase a brand new vehicle (non electric), you will lose up to 30% of its value as soon as you drive it off the lot. Electric vehicles hold their value over time as there is less maintenance involved to fix them – any issues are updated through the vehicles wifi similar to your laptop or phone. You no longer have to worry about the price of gas.
As manufacturers look forward to further improve the battery-powered electric vehicles, it is no doubt a smart investment.
How much does an electric vehicle (EV) cost?
The prices of electric vehicles vary depending on the features and brand of the car, a Tesla is more of a luxury option for electric vehicles and can range from $90,000 – $180,000. Other makes and models can range from $35,000 – $50,000. Some of the more popular electric vehicles are:
- 2018 Chevrolet Bolt approx: $44,000
- 2018 Chevrolet Volt approx: $40,000
- 2019 Nissan Leaf approx: $36,000
- 2018 Kia Soul EV approx: $36,000
- BMW i3 approx: $47,500
- 2018 Ford Focus Electric approx: $32,000
- 2018 Hyundai Ioniq approx: $36,000
Estimates from industry experts 2040; almost all the cars driving on the road will be electric. They will mostly run on solar powered energy hence saving all the pollution from the combustion of gasoline. Therefore, these electric cars will certainly have increased resale values as well. All in all, keeping in mind the weather and traffic conditions of Ontario, buying an electric vehicle may just be a very good investment!