Key Facts About Insuring a Tesla in Ontario
The figures below are based on MyChoice’s proprietary online quote data collected from Tesla drivers in Ontario in 2026.
| Average Tesla insurance premium (Ontario): | $2,520 |
| Cheapest Tesla model to insure: | Model Y ($2,391) |
| Most expensive Tesla model to insure: | Model S ($2,757) |
| Cheaper alternatives to Tesla for car insurance: | Mitsubishi ($1,519), Fiat ($1,612), Volkswagen ($1,644), Subaru ($1,702) |
| Tesla collision rate in Ontario: | 10.7% of Tesla drivers have ≥1 at-fault accident |
How Much Does it Cost to Insure Your Tesla in Ontario?
Your postal code is one of the biggest factors in a Tesla premium. In congested, high-theft areas like Brampton, Tesla drivers pay far more than the $2,520 provincial average, whereas quieter centres such as Kitchener see noticeably lower rates.
The table below estimates the average annual Tesla premium in major Ontario cities:
| City | Average Annual Insurance Premium |
|---|---|
| Brampton, ON | $4,103 |
| Scarborough, ON | $3,602 |
| Vaughan, ON | $3,197 |
| Mississauga, ON | $2,948 |
| Markham, ON | $2,794 |
| Toronto, ON | $2,776 |
| Barrie, ON | $2,503 |
| Oshawa, ON | $2,502 |
| London, ON | $2,408 |
| Windsor, ON | $2,405 |
| Thunder Bay, ON | $2,402 |
| Hamilton, ON | $2,210 |
| Sudbury, ON | $2,177 |
| Kitchener, ON | $2,139 |
| Kingston, ON | $2,055 |
| Ottawa, ON | $1,986 |
How Tesla Car Insurance Costs Compare to Similar Vehicle Brands
Insurance cost is often a deciding factor when shopping across brands. Our internal Ontario quote data places Tesla in a premium price band: it typically costs more to insure than Audi, BMW, Mercedes, yet less than Alfa Romeo, Land Rover, Porsche.
Here’s how the average annual Ontario premiums stack up:
| Car Model | Average Annual Insurance Premium |
|---|---|
| Audi | $2,311 |
| BMW | $2,409 |
| Mercedes | $2,481 |
| Tesla | $2,520 |
| Alfa Romeo | $2,712 |
| Land Rover | $3,126 |
| Porsche | $3,809 |
Tesla Car Insurance Rates Through The Years
In the past seven years, Tesla vehicle insurance rates have increased dramatically across the models released each year.
Here’s an updated overview of the Tesla vehicles’ insurance premiums in recent years:
| Year | Average Annual Insurance Premium | YoY Change |
|---|---|---|
| 2020 | $1,821 | — |
| 2021 | $1,938 | +6.4% |
| 2022 | $2,073 | +7.0% |
| 2023 | $2,041 | -1.5% |
| 2024 | $2,255 | +10.5% |
| 2025 | $2,390 | +6.0% |
| 2026 | $2,520 | +5.4% |
Tesla Car Insurance Rates by Model
Not every Tesla costs the same to insure. In our Ontario data the Model Y is the most affordable to cover, while the Model S carries the highest premium, reflecting differences in value, repair cost and theft risk.
Here are average annual Ontario premiums by Tesla model:
| Model | Average Annual Insurance Premium |
|---|---|
| Model Y | $2,391 |
| Model X | $2,447 |
| Model 3 | $2,598 |
| Model S | $2,757 |
Tesla Insurance FAQs
Are Teslas expensive to repair?
Teslas are relatively more expensive to repair than average fuel cars. You can expect to pay 27% more on Tesla maintenance than comparable gas cars because components on Tesla cars are more expensive and harder to replace.
Additionally, Teslas can only be repaired at authorized service centers, meaning you can’t take them to any repair shop, unlike most cars.
Does Tesla offer auto insurance?
Tesla offers auto insurance through its InsureMyTesla program in collaboration with Aviva. This program provides benefits like:
– Competitive insurance pricing;
– Accidental loss or damage protection;
– Wall connector coverage;
– Full car glass coverage;
– Car fob coverage.
InsureMyTesla is not available in British Columbia, Manitoba, and Saskatchewan.
Does Tesla provide roadside assistance in Canada?
Tesla provides 24/7 roadside assistance in Canada, available directly from the Tesla app. The services offered by Tesla Roadside Assistance include:
– Transporting broken-down cars;
– Fixing flat tires;
– Unlocking cars;
– Recharging depleted batteries.
Read Tesla’s roadside assistance policy to learn which services are covered for free and which ones cost money.
Is car insurance for a Tesla expensive?
Car insurance for a Tesla in Canada is relatively more expensive than comparable gas-powered vehicles. Teslas are generally seen as luxury cars, and their parts are more expensive to replace, making them higher-risk vehicles. Because they’re seen as high-risk cars, Teslas usually have higher car insurance premiums in Canada.
Is electric car insurance cheaper, or is it more expensive?
Electric car insurance is usually more expensive than gas-powered cars because the complex components and parts are harder to replace. In the case of Teslas, repairs can only be done at authorized service centers, making them even costlier to maintain.
Is it more expensive to insure a Tesla than a gas-powered car?
It’s more expensive to insure a Tesla than a gas-powered car because Teslas are more expensive to fix. Thanks to the higher repair costs, insurance companies must pay more whenever a Tesla gets in an accident, leading to higher premiums.
Is Tesla the first car company to provide insurance?
Tesla was the first car company to provide auto insurance when it debuted Tesla Insurance for Californians in 2019. However, the rollout of Tesla Insurance is relatively slow because, as of this writing, it’s only available in 11 U.S. states.
In Canada, Tesla offers the InsureMyTesla program which covers seven provinces in collaboration with Aviva. The provinces not covered by this program are British Columbia, Manitoba, and Saskatchewan.
Used vs new Teslas: which is cheaper to insure?
Used and older Tesla cars are usually cheaper to insure because the value of old vehicles depreciates. Insurers see the car as less valuable and parts may be cheaper to find, so they can give you lower premiums on older cars.
What are the most common insurance claims made on Teslas?
There’s no information on the most common insurance claims made on Teslas. However, if we’re going by statistics for all vehicles, the most common insurance claims are for rear-end collisions. There have also been high-profile insurance claims related to battery malfunctions.
What is the best car insurance for a Tesla?
The best car insurance for a Tesla depends on what kind of protection you need and your risk profile. Learn what you need from car insurance, talk with multiple insurers, and find the right auto insurance policy at the best price.
Fortunately, you don’t have to look for Tesla car insurance in Canada alone. MyChoice helps you shop and compare Tesla car insurance quotes to ensure you get the best deals.
What is the cheapest Tesla to insure?
The Model S is the cheapest Tesla car to insure with an annual rate between $1,550 and $4,000. The Model S isn’t the cheapest Tesla car, but it offers the lowest insurance rates because insurers see the Model S as a low-risk vehicle.
What is the InsureMyTesla program?
InsureMyTesla is a Canadian Tesla insurance program created in collaboration with Aviva. It’s a comprehensive insurance package that offers benefits like:
– Loss and damage coverage;
– Wall connector coverage;
– Glass coverage;
– Key fob coverage.
While it’s marketed by Tesla, InsureMyTesla is still run mainly by Aviva. This insurance policy is only available in all Canadian provinces except British Columbia, Manitoba, and Saskatchewan.
What kind of coverage should I get for my Tesla?
You should get all the mandatory coverage required by the Canadian government for your Tesla car. This means you must have three types of coverage:
– Third-party liability coverage;
– Statutory accident benefits coverage;
– Direct compensation – property damage coverage.
In addition to government-required coverage, you can add extra protection according to your needs like accident forgiveness, all-risk protection, and uninsured vehicle coverage.
Where do I buy Tesla car insurance in Canada?
You can get Tesla car insurance from any Canadian insurance provider. Talk to your insurance broker or contact insurance agents directly to learn what auto insurance options are available to you.
In addition to regular insurance companies, you can apply for an InsureMyTesla policy by visiting Tesla’s website.