Hybrid vehicles are a bit different in several ways than the ones with totally petrol operated engines. Naturally motorists who own or are interested in buying one would ask following questions. Are hybrid cars more expensive to insure? Why would you need to pay more for a hybrid since they are not sports cars or anything like it? Is there any hybrid car insurance discount?
There could be many reasons why insuring one type of car can be more expensive than the similar ones in the range. Here are some of those reasons why hybrid vehicles may cost more to insure.
Higher Price Tag: Hybrid automobiles are more expensive to buy compared to typical standard models of same types. This would mean that comprehensive and collision coverage would have higher total loss value. This could slightly increase insurance costs.
Expensive Parts: A typical popular automobile would have plenty parts available at reasonable prices when you need to repair it. On the other hand, hybrid parts are more expensive due to special requirements of an hybrid engine. Plus, these cars are not as popular and therefore they don’t have parts readily available. When parts are regularly used and sold in mass numbers this would reduce the costs because of mass production. Unfortunately, this is not the case for many hybrid vehicles and this increases the costs of repairs and insurance costs as a consequence. However, several hybrid models are getting more and more popular and this generalization may not be applicable to them.
Usage: Hybrid cars are popular among drivers who do high mileages because they are more economical to run. Some studies suggest that hybrids are driven around 25% more in comparison with similar petrol cars. This type of statistical information can alert insurer to charge more for these automobiles.
Other Issues: Companies may have other problems with some hybrid models. They may cause more accidents because they operate much quieter than a typical auto. Pedestrians may not notice them coming and this would result in more accidents. Sometimes technology can backfire by producing something too good for our own goods. It is surprising to note such problems when it seems a good thing to have quieter automobiles. Some manufacturers add artificial noise to overcome this particular issue.
On the other hand, there are handful of companies that offer hybrid car insurance discount because they are environmentally friendly automobiles. However, their rates may already be higher than most other companies that even these discounts may not be enough to make them competitive enough. The best thing for hybrid car owners is to shop around a little and see which provider would offer them good hybrid car insurance rates.
Unfortunately, there are too many factors involved in the equation, including types of automobiles in question, their safety records, prices and popularity. That is why it isn’t easy to give a clear cut response as to how costly insuring hybrid cars would be. However, you can quickly find out by getting a few quotes and comparing it with how much you used to pay for your old petrol car.