As Canada transitions to electric vehicles, the costs of insurance may go up, a recent data analysis says.

Based on data from the UK, Morningstar DBRS notes that as drivers switch to EVs, insurance companies will also be adjusting prices.

“EV owners in the UK already face higher premium rates and, in some instances, denial of coverage as insurers adjust their pricing models,” the credit rating agency’s report said. “This trend could manifest in Canada over time.”

The cost of parts and repair for EVs is one of the main issues that insurance companies face when handling claims from drivers.