Many drivers who have invested in a hybrid car, which operates using a combination of electric battery power as well as traditional gasoline, swear by the hybrid’s performance and great gas mileage. Although hybrid cars typically save their owners money when it comes to feeding the gas tank, that savings compensates for the fact that auto insurance for hybrid cars is typically more expensive than traditional cars operated solely on gasoline powered engines.
There are two main reasons why insurance companies tend to charge more for auto insurance for hybrid cars and one of them is the vehicle’s size. Smaller, more compact cars that tend to sustain more damage in a collision are typically more expensive to insure because it costs the insurance provider more money per claim. Smaller cars are often more difficult in certain weather conditions for other larger vehicles to see and this puts them at higher risk of having an accident.
The second major reason why insurers charge more on hybrid premium rates is the original sticker price of the car, which can be several thousand dollars more than traditional compact or economy cars. While it’s a very good thing that hybrids contain all of the latest technology that enables them to lessen the driver’s fuel costs, this same technological equipment is much more expensive to repair or replace when it becomes damaged due to a collision. Insurance companies take this added expense into account when they are determining auto insurance premiums on this type of vehicle.
Tips for Lowering Premiums
Because hybrid vehicles typically come with a premium package of safety features that are already installed in the car, including airbags, anti-lock brakes and seat belts that fasten automatically so the driver and passengers never forget to buckle up, hybrid owners can take advantage of safety equipment discounts offered by many national car insurance companies. Anti-theft devices can also help to lower a hybrid car insurance premium. Wheel locks as well as ignition and fuel cut-off systems are other features that can be installed after purchase and may qualify for lower insurance rates. Just be sure to mention them to your insurance agent when requesting an auto insurance quote. Some companies also offer discounts on their rates of up to 10% specifically for hybrid car owners as an incentive for more drivers to choose vehicles feauring the latest safety technology as well as engines that dramatically reduce the amount of carbon emissions being ejected into the atmosphere. Yet other discounts offered by certain insurance companies are provided to drivers who carpool to work using hybrid vehicles. Paying your insurance premium on an annual rather than monthly basis, a good driving record, and insuring your hybrid car with the same company as you do your other vehicles or your home are additional ways to reap some money-saving discounts when applying for auto insurance for a hybrid car.
View more auto insurance rates for other vehicle types.