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Things to Know About Insuring Smart Vehicles

Smart vehicles are manufactured by the German carmaker Daimler AG, and they are known for their compact size, fuel efficiency, and eco-friendliness. Here are some things to know about insuring Smart vehicles in Canada:

  1. Insurance rates for Smart cars are generally lower than the average for other car brands because they are small, inexpensive, and have a good safety record.
  2. The average cost of Smart car insurance in Canada is around $900 to $1,000 per year.
  3. Smart cars are often driven by people who are looking for fuel efficiency and economy, which means that many Smart car drivers may be eligible for discounts on their insurance premiums.
  4. Some factors that can affect the cost of insurance for Smart cars include the model, year, and value of the car, as well as the driver’s age, driving record, and location.
  5. To find the best insurance rates for a Smart car, it is important to compare quotes from multiple insurance companies and to consider factors such as deductibles, coverage limits, and additional features like roadside assistance or rental car reimbursement.
  6. Some insurance companies may offer discounts or special rates for Smart car drivers who take a defensive driving course, use winter tires, or install anti-theft devices on their vehicles.
  7. As with any car, it is important to maintain a Smart car regularly to keep it in good condition and to avoid any issues that could affect its safety or performance. Regular maintenance can also help to prevent any costly repairs down the road.

Do Smart Vehicles Cost More to Insure than Other Brands?

Smart cars are designed to be smaller and more fuel-efficient, which can make them cheaper to insure than larger, more expensive vehicles. However, the actual cost of insurance for a Smart car will depend on a variety of factors, including the driver’s age, location, driving history, and the specific model of the vehicle.

In general, Smart cars are considered safe vehicles, which can also help to lower insurance costs. They have features such as stability control, airbags, and anti-lock brakes. Smart cars are also designed to have a low center of gravity, which can help to reduce the risk of rollovers.

However, the unique design of Smart cars can also make them more expensive to repair or replace, which can increase insurance costs. Additionally, because they are relatively rare, replacement parts may be more difficult to find, which can also drive up the cost of repairs.

The Average Cost of Smart Car Insurance in Canada?

Car Smart Eq Fortwo

The average cost of car insurance for Smart is $1,063 in Canada. It’s $88 per month.

The table below shows the Smart car insurance cost for a sample driver.

CityAverage Smart Fortwo Car Insurance Cost*
Quebec City$553
Richmond Hill$1,159

As Smart no longer sells new vehicles in Canada, it may be difficult to find up-to-date information on the average cost of car insurance for these vehicles. Insurance rates for used Smart cars will likely vary based on factors such as the car’s age, model, and location. It is recommended that individuals interested in insuring a Smart car contact various insurance providers to obtain quotes based on their specific circumstances.

Smart Model Factors that Lower Auto Insurance Costs

Car Smart Fortwo

Some factors that may lower the auto insurance costs for Smart cars in Canada include:

  1. Safety features: Smart cars are designed to be compact and fuel-efficient, with a focus on safety features such as airbags, stability control, and electronic traction. These features may help reduce the risk of accidents and result in lower insurance rates.
  2. Fuel efficiency: Smart cars are known for their fuel efficiency, which may result in lower insurance rates, especially for drivers who are using their vehicles for commuting purposes.
  3. Low theft rate: Smart cars have a lower theft rate compared to other vehicles in Canada. This may result in lower insurance rates for comprehensive coverage.
  4. Usage-based insurance: Many auto insurers in Canada now offer usage-based insurance, which involves using telematics devices to track a driver’s behaviour and adjust premiums accordingly. Smart cars are a good fit for this type of insurance, as they are often used for shorter trips and may have lower mileage.
  5. Small engine size: Smart cars typically have small engine sizes, which can result in lower insurance premiums.

Smart Model Factors that Increase Auto Insurance Costs

There are a few factors related to Smart car models that may increase auto insurance costs, including:

  1. Cost of repairs: Smart cars are designed to be small and lightweight, which means they may sustain more damage in an accident than larger vehicles. Additionally, Smart cars use specialized parts that can be more expensive to replace or repair, which can drive up insurance costs.
  2. Safety features: While Smart cars are designed to be safe, they may not have all the safety features that larger vehicles have, such as airbags and advanced collision avoidance systems. This can make Smart cars more expensive to insure, as they may be at higher risk for accidents.
  3. Theft risk: Smart cars are relatively rare on Canadian roads, which can make them more attractive to thieves. This may lead to higher insurance premiums, as insurance companies may view Smart cars as higher risk vehicles.
  4. Driver demographics: Smart cars are often popular among younger drivers and city dwellers. These demographics are generally viewed as higher risk by insurance companies, which can lead to higher premiums.

Tips for Finding Cheap Smart Car Insurance Rates

Increase Auto Insurance Cost

Here are some tips for finding cheap Smart car insurance rates:

  1. Shop around: Get quotes from multiple insurance providers and compare rates to find the best deal.
  2. Consider a higher deductible: A higher deductible can lower your monthly premiums, but make sure you can afford the out-of-pocket costs if you need to make a claim.
  3. Bundle policies: Many insurance providers offer discounts for bundling multiple policies, such as auto and home insurance.
  4. Look for discounts: Ask your insurance provider about any available discounts, such as safe driver discounts or discounts for installing anti-theft devices.
  5. Drive safely: Avoid traffic violations and accidents, as these can increase your insurance rates.
  6. Choose a lower-risk model: The Smart Fortwo is the only model currently available in Canada. It is a small car with a low horsepower engine, which generally makes it less expensive to insure than larger, higher-powered vehicles.
  7. Consider usage-based insurance: Some insurance providers offer usage-based insurance programs that track your driving behavior and adjust your rates based on how safely you drive.
  8. Maintain a good credit score: Insurance providers may use your credit score as a factor in determining your rates, so it’s important to maintain a good credit score.

Some Interesting Facts About Smart:

Here are some interesting facts about Smart:

  1. Smart is a German automotive brand that was established in 1994.
  2. The name Smart is an acronym for Swatch Mercedes Art.
  3. The first Smart car, the Smart City Coupe, was launched in 1998.
  4. Smart cars are known for their small size, fuel efficiency, and eco-friendliness.
  5. In 2019, Smart announced that it would stop producing gasoline-powered cars and focus exclusively on electric vehicles.
  6. The Smart EQ Fortwo, the latest version of the Smart car, has a range of up to 159 km on a single charge.
  7. Smart cars are popular in urban areas, where their small size makes them easier to park and maneuver in tight spaces.
  8. The Smart car was originally developed as a collaboration between Swiss watchmaker Swatch and Mercedes-Benz.
  9. Smart cars have been featured in several movies and TV shows, including “The Da Vinci Code,” “The Simpsons,” and “Top Gear.”
  10. Smart is owned by the Daimler AG group, which also owns Mercedes-Benz.

All Smart Models

Smart is a brand of microcars produced by Daimler AG, a German multinational automotive corporation. Here are some of the Smart models:

  • Smart Fortwo
  • Smart Forfour
  • Smart Roadster
  • Smart EQ Fortwo
  • Smart EQ Forfour
  • Smart Crossblade

Please note that availability of these models may vary by region.

What is the Average Maintenance Cost of a Smart in Canada?

As Smart cars are no longer sold in Canada, there is limited information available regarding the average maintenance cost of these vehicles in the country. The cost of maintaining a Smart car can vary based on several factors, including the age of the vehicle, its mileage, and the specific repairs and maintenance required. It is recommended to contact a local mechanic or dealership to inquire about the maintenance cost of a Smart car in a specific province.

Known Issues with Smart Vehicles

Smart vehicles are known for their fuel efficiency and compact size, but they have also had some reported issues. One common issue is related to the transmission. Some owners have reported problems with the transmission failing or getting stuck in gear. Other reported issues include problems with the air conditioning system, power steering, and electrical system. Additionally, some owners have reported issues with the car’s computer system, which can cause problems with the engine or other components. It’s important to note that these issues are not common among all Smart vehicles and may vary depending on the specific model and year.

What is the Safety Rating of Smart?

The National Highway Traffic Safety Administration (NHTSA) and the Insurance Institute for Highway Safety (IIHS) have not conducted safety ratings for all Smart vehicles. However, the 2017 Smart ForTwo has received a four-star overall safety rating from NHTSA out of a possible five stars.

Does Smart Get Stolen a Lot in Canada?

Smart cars are not very popular among car thieves in Canada, and they are not among the top 10 most stolen cars in the country. However, any car can be stolen if proper precautions are not taken, so it’s always important to take steps to protect your vehicle from theft.

Is Smart Easy to Steal?

As a brand, Smart doesn’t have any reputation of being particularly easy or difficult to steal compared to other brands. However, as with any car, there is always a risk of theft depending on the model, location, and security measures in place.

List of Most Frequently Stolen Smart Vehicles in Canada

Smart cars are not frequently stolen in Canada, and there is no available data on the most frequently stolen Smart vehicles.

Pros and Cons of Smart Vehicles

Here are some potential pros and cons of Smart vehicles:


  1. Fuel efficiency: Smart cars are designed to be small and lightweight, which generally makes them more fuel-efficient than larger cars.
  2. Easy to park: The small size of Smart cars makes them easy to park in tight spaces and in urban areas where parking spots can be limited.
  3. Maneuverability: Smart cars can be more maneuverable than larger vehicles, which can be an advantage in city driving and tight spaces.
  4. Environmentally friendly: With their smaller size and better fuel economy, Smart cars may be considered more environmentally friendly than larger, less efficient vehicles.


  1. Limited space: Because of their small size, Smart cars can have limited passenger and cargo space, which may not be suitable for larger families or people who frequently transport items.
  2. Safety concerns: Due to their small size and low weight, Smart cars may not be as safe as larger, more substantial vehicles in the event of a crash.
  3. Limited options: Smart cars may not have as many features or options as larger, more established brands, and there may be fewer repair shops that specialize in these vehicles.
  4. Price: Smart cars can be more expensive than similar models of larger vehicles, which could be a downside for those on a tight budget.

About the Author: Valerie D. Hahn

Valerie is an insurance editor, journalist, and business professional at RateLab. She has more than 15 years of experience in personal financial products. She strives to educate readers and ensure that they are properly protected.

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