Car Insurance for Hybrid Cars

Hybrid cars have finally grown up and there is tremendous growth in the Hybrid car market. Although most Hybrid cars are more expensive than comparable vehicles, consumers are opting for the eco-friendly option more than ever before.

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Do hybrid cars have lower insurance rates?

If you’re thinking of buying a hybrid car, you’re probably wondering if hybrids are more expensive to insure. Compared to similar size and gas versions, hybrid cars can be more expensive to insure. This is so because insurers know that hybrids are saving on fuel consumption and cover more miles.

Sometimes, hybrids can cost around 7% more to insure, but there are variations based on make, model, and year. Insurance premiums may typically be higher for hybrids because these cars are worth more than gas-powered vehicles and repair costs are often higher for hybrids due to the expensive parts like battery systems.

Additionally, the average damage claim for hybrids is higher, because you’re considered a high-risk driver if you drive a fuel-efficient model. Even though hybrid cars are safer to drive on the road, the repair costs are higher, regardless of their safety.

Insurance costs depend on the price of the car, the year, and your driving habits. So if you have an expensive car, you should expect to pay more. Thankfully, due to the popularity of hybrid technology, insurance companies are offering insurance discounts.

The best way to get lower car insurance rates is to take advantage of car insurance discounts, and many car insurance companies look at one thing to provide an insurance discount of up to 10 percent or more — whether or not you own a hybrid car.

The mere fact that you own (or lease) a hybrid car entitles you to a discount on auto insurance with most providers.

A hybrid driver is considered a safe driver because they drive fewer miles, so insurers are likely to provide discounts.

Some car insurance companies have even gone as far as creating programs specifically for hybrid vehicles, such as the Travelers Hybrid car insurance program.

Your car insurance rates will certainly depend on your overall risk profile, but owning a hybrid car is one small advantage to cheaper car insurance rates.

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What is a hybrid car and how do hybrid vehicles work?

The only difference between a hybrid car and a traditional gas vehicle is the way the engine operates. Hybrid cars are much more fuel efficient, using a combination of gas and electricity.

When hybrid cars were first introduced, a lot of public perception was incorrect. Some believed you have to charge these vehicles overnight, but that’s incorrect. Fully electric vehicles, on the other hand, usually do require charging regularly.

Hybrid cars are powered by converting energy from gasoline to recharge the vehicles’ battery automatically, running the vehicle on the battery and then using the gasoline to automatically recharge the battery when needed.

Think of the battery and gas as always working together for better fuel efficiency — basically, you have a working relationship between gas and power under the hood.

What are the most popular hybrid cars?

The Toyota Prius is the godfather of all hybrid vehicles. Benefiting from the first mover advantage, the Toyota Prius was the first hybrid vehicle to win over drivers in America and has since been selling at a rapid pace.

With a 50 MPG fuel efficiency and roomy interior, the Toyota Prius is the standard for hybrid cars.

Although, if you want to buy a hybrid vehicle, you do have other options.

Many car manufacturers have introduced hybrid models to the marketplace, including GM, Ford, Lexus, Mercedes, and BMW. Hybrid cars now come in many different models, including sub-compact, luxury, and SUV.

Some of the most popular hybrid cars available today are:

Typical Passenger Cars

• 2011 Toyota Prius
• 2011 Honda Civic Hybrid
• 2011 Honda Insight
• 2011 Ford Fusion Hybrid
• Mercury Milan Hybrid
• Honda CR-Z Hybrid
• Nissan Altima Hybrid
• 2011 Toyota Camry Hybrid

Trucks and SUV’s

• 2011 Toyota Highlander Hybrid
• Chevrolet Silverado Hybrid
• Chevrolet Tahoe Hybrid
• GMC Sierra Hybrid
• GMC Yukon Hybrid
• Cadillac Escalade Hybrid

Luxury Hybrid Cars

• BMW X6 Hybrid
• Lexus HS 250h
• Lexus RX 450h
• Lexus GS 450h
• Mercedes ML 450 Hybrid

What are the disadvantages of owning a hybrid car?

There is no catch except that hybrid cars are generally priced more than typical vehicles.

On the upside, you get to save the earth, take advantage of lower car insurance rates, and experience many other special breaks, such as:

• Possible income tax deduction
• Possible employer incentives to assist with the purchase of a vehicle
• Lower fuel costs
• Special driving privileges by states (free HOV tags in many states)

While car insurance companies are never going to overlook a DUI conviction or reckless driving history just because you own a Hybrid, these vehicles do provide a lot of benefits over traditional cars in terms of value, risk, and environmental factors.

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