news&views Winter 2021 | Page 49

be lighter than emission-based vehicles and have regenerative braking , which produces a charge for the battery when decelerating , adding additional savings when travelling . Although you may require less maintenance with a zero-emission vehicle , costs may be higher due to a different service standard required compared to emission-based vehicles .
If you ’ re looking to compare the difference in fuel cost between your current vehicle and a hybrid vehicle you ’ re interested in , make sure to use an electric vehicle calculator to see how much you can save based on your annual mileage .
Your Insurance May Increase
If you ’ re worried that your insurance premiums may increase , make sure to provide a VIN number to your broker or quoter . This information will ensure that any discounts available through providers will be applied to your quote . Providers like Aviva offer a five per cent green vehicle discount just for insuring an electric or hybrid vehicle . The VIN number will also identify whether your zero-emission vehicle is classified as high-value , which can increase your insurance premium due to expensive parts or complicated service standard requirements .
Unable to locate or provide a VIN number to your broker ? If that ’ s the case , make sure to provide the year , make , model , and mileage for an accurate quote on your vehicle insurance .
You Can Save on Your Initial Purchase
Many people don ’ t know that you can also receive additional tax rebates on your vehicle . In order to encourage Canadians to use zero-emission vehicles , the government provides a list of eligible zeroemission vehicles for purchase or lease . Rebates are based on the type of hybrid vehicle you ’ re choosing . Under the federal iZEV Program , there are incentives of up to $ 5,000 for purchasing .
Information for this article was found in the Government of Canada websites , Travelling with an electric vehicle and Zero-emission vehicles , the Electric Vehicle Association of Alberta website for the electric vehicle calculator , and Aviva ’ s electric vehicle insurance website page .
news & views WINTER 2021 | 49