Do Hybrids Cost More Or Less To Insure?

For many, switching from a gas guzzler to a greener car alternative is a lifestyle choice. Hybrids avoid using gas for long periods of time by utilizing a battery powered electric motor. This plays a big role in saving gas money and helping the environment. There’s some debate on whether hybrids cost you more or less when it comes to a car insurance quote. Let’s settle it.

Hybrids and other alternative-fuel vehicles cost more to repair and replace than the traditional gas powered vehicle. Also, a study by the National Highway Traffic Safety Administration, from 2009, found that hybrids were more likely to get into accidents involving bicycles and pedestrians, probably because they’re so much quieter than other cars

Hybrid/electric cars are usually smaller cars, so when damaged in an accident, they are more prone to suffering big damage that needs repair. These factors will play a big role into how much it costs to insure “green” vehicle.

Safety

While usually smaller in size, Hybrids are pretty safe. Thanks to their batteries and other equipment, they are heavier. According to the IIHS, the odds of being injured in an accident are 25% lower for people traveling in hybrids than people in non-hybrid models. Safer cars usually mean lower premium rates. However, that does vary based on individual factors.

Repair costs

It is usually more expensive to repair a hybrid or an electric car due to their electric parts. It’s also important to take into consideration that since hybrids are somewhat new to the car scene, not ever mechanic knows how to operate on them. So, labor charges are usually higher for electric vehicles. Insurance companies also take this into consideration.

It’s about the driver

Ultimately, the insurer isn’t looking at the car as much as the driver. It’s more important that the driver is responsible and has a clean driving record. That means that there is less risk for the insurance company.

While not every insurance company cars whether or not you’re driving an environmentally friendly car or not, some do. Here are top insurers who give alternative-fuel discounts:

• 21st Century
• Allstate
• Farmers
• The Hartford Group
• Liberty Mutual
• Travelers
• GEICO

The savings for alternative-fuel vehicles isn’t significant. The discount ranges between 5%-10% depending on the provider. Keep in mind, not ever provider offers this discount. And not all providers offer the discount in every state.

Are you a new and proud owner of a hybrid? Check to see if your insurer offers electric vehicle discounts. If not, shop around and see what quotes you can get to lower your premium costs.

While many may debate that the cost to own a hybrid/electric vehicle outweighs the benefits, others may love it. When choosing a environmentally friendly car, you are supporting zero pollution and emissions into the air.

The repair costs are not cheap, but switching to hybrid cuts down on gas spending and cuts out pollution. Hybrids are not for everyones lifestyle, but they are a great alternative car for those looking to be more environmentally friendly. While you won’t be saving significantly, you can find discounts for hybrid/altnerative-fuel vehicles depending on the provider.

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