As Canada tries to electrify all new vehicles by 2035, consumers will likely face rising insurance rates—a trend that’s been seen in the U.K. and Europe, according to a note by credit-rating agency Morningstar DBRS. (The Logic)

Talking point: The report noted that EVs are not only more expensive to purchase, but can also be harder and more expensive to repair after collisions because they’re so computerized. EVs generally require less maintenance (no fluids to change) and are often cheaper than gas-powered cars over their total lifespan. But Morningstar DBRS said some insurers in both B.C. and the U.K. prefer to write off an EV as totalled rather than repair damaged battery packs, which could push up rates. Still, the report said Canada’s “highly regulated” car insurance industry could be a silver lining that could help prevent rates from spiking too quickly. It also noted that Canadian insurers aren’t too reliant on their auto businesses compared with other products.