Are Hybrid Vehicles Cheaper to Insure? Why?
Why Are Hybrid Vehicles Cheaper to Insure?
It makes sense that most electric hybrid cars are more expensive than their gasoline only counterparts when you consider the complexity and duplication that is involved. Parallel hybrids have both a gasoline engine and an electric engine synchronized with a special transmission and controls package whereas gasoline or electric only vehicles have only one or the other.
For example here is the Toyota Prius engines package
This complexity costs money and adds to the components that can go wrong and the replacement parts that need to replaced if there is an accident.
Based on this you would think that hybrid vehicles should be more expensive to insure right? Well a recent study suggests the opposite. How could this be, unless hybrid drivers have less accidents.
We have included a crash video of a 2015 Toyota Prius just to keep this in perspective.
Press release from the blog.
The website Onlinequotesautoinsurance.com has released a new blog post announcing that purchasing auto insurance for hybrid cars is cheaper.
Hybrid car owners are entitled to a 10% discount when purchasing insurance. Since the vehicles are environmentally friendly and have a low mileage rate, agencies sometimes prefer insuring hybrid vehicles. Statistics also work in the factor of hybrid car owners. Many such drivers are in their 40s, making them responsible drivers who are involved less in accidents.
What really pushes hybrid rates down is the low risk for such vehicles being involved in an accident. Their low speed make these cars very safe on any road and their drivers are more aware of the risks of speeding. Agencies will always evaluate a car’s risk and the safer a vehicle is, the better the rates.
A disadvantage of insuring hybrid vehicles is the high repairing costs. Although many agencies offer the 10% discount, they may ask for higher deductibles. Do, in case of an accident, a hybrid driver has to pay more money in order to claim coverage. an expensive hybrid vehicle can sometimes cost more to cover due to these circumstances.
How to find affordable auto insurance for a hybrid car
Clients can always shop around for better coverage options. New online services are available that can help drivers compare and review multiple plans in their area. Free car insurance quotes are now available for free at http://onlinequotesautoinsurance.com/. The website has important connections with top agencies and offer great resources that can help drivers shop for coverage a lot faster.
“Insuring a hybrid car is simple and affordable. Many auto insurance quotes show that hybrid cars generally get cheaper rates than diesel fueled vehicles. Clients can always compare rates for free to find the best insurance options in their area.” said Russell Rabichev, Marketing Director of Internet Marketing Company.