Hybrid automobiles are usually more expensive to buy and repair as they have extra parts like batteries and more electronics and electrical installations. That is why it may be more expensive to insure them in comparison to similar type gas-powered cars. However, some insurers are known to offer extra discounts for them because they are environmentally friendly and these companies want to get into this market.
Also, statistics show that hybrid cars are bought by better educated and well-off motorists who are careful and experienced drivers with good credit scores, accident and ticket history. Who prefers certain cars can help their statistics in the long run and allow insurers to offer lower rates for them. On the negative side, they are also bought by motorists who like them for their economy because they cover many miles a year. This means they are more likely to have accidents due to longer times on the roads.
Motorists need to follow the same principles of getting discounts when they arrange hybrid car insurance coverage as well. The usual savings for no claim, good driving history, good credit score, having a garage, being a homeowner are applicable no matter which type of vehicle you drive. The overall cost may be higher or lower due to the specifications of your automobile after all the discounts are applied.
Owning environmentally friendly autos can be a good enough reason to get discounted vehicle insurance rates from some companies. This is the strongest point of hybrid vehicles and you can make the most of it since you have one. Owners are advised to explore this angle first and see if they can save some money.
Farmers and Travelers advertise to offer a 10% discount for insuring hybrid and other environmentally friendly cars. GEICO offers a 5% discount. Also, Liberty Mutual, State Farm and Nationwide offer lower rates for some hybrid car make and models in comparison to other companies. But you should always get a few quotes and compare prices as the make and model of your car determines the premiums.
Unless you find a company that likes the type of automobile you drive, it may even be more expensive to insure hybrid cars. Not all companies like them even though they would not put it that way. Some of the models concern underwriters. Besides, there isn’t enough information and statistical data about them. Lack of information usually leads to higher rates.
Essentially, a car should be reasonably cheap to repair when they get involved in accidents. Also they should be able to stand well in crashes. On both counts, these environmentally friendly vehicles may not do that well. They are built lighter and some parts may not be as common as other automobile parts. This is one of the main reasons why hybrid auto insurance could cost slightly more.
Furthermore, some of them have security issues for pedestrians. They run so quietly that it is a worry people around will not notice they are coming. This increases the chances of people stepping in front of them, especially people with hearing and eyesight problems. If a pedestrian is run over, the liability claims can be substantial to pay. These problems are being dealt with in the new models with artificial noises to alert other road users. That would take at least one load off insurers’ minds.
Hybrid vehicles are properly in fashion lately. They are loved by authorities, manufacturers and drivers so insurers are looking into designing advertising campaigns for them. If you have one of them you probably have your own reasons. You may be loving it or hating it but you have got to insure it and that is not much different than any other models and most things you know apply to them as well.
These cars are built for two main purposes. The first one is the fuel economy. They can use two sources of energy that allow people to save money and go as far as they want. They are installed with batteries to store electric energy and use it to run. Where the battery runs out they can use traditional fuel sources. As electricity is cheaper than gasoline this is an economical solution.
Second purpose is related to the first one. Electricity is a clean source of energy. They do not emit carbon dioxide into the environment and therefore are highly favored. Particularly large cosmopolitan areas like to clean the air in the city. The more cars run on electricity (or even natural gas) the better. City councils convert their own vehicles to run on natural gas to clean up the air.
As always, motorists are advised to look around carefully for the best deals available to them. Some companies may like certain vehicles or drivers for whatever reason and offer them great rates. The opposite is true as well. If you want the best auto insurance quotes you need to work for it a bit. The easiest way of doing this is getting several quotations and comparing them. It will be clear if they like what they see or not.