Hybrid Cars and Auto Insurance

The reasons for buying hybrids vary. Some believe that the ‘War on Terrorism’ is a result of America’s dependence on oil and by purchasing a hybrid they are doing their bit to stop supporting it. Buying a hybrid car is also their way of lending support to organizations that channel resources into the discovery of alternative energy. Air pollution, the increase in smog and the greater incidence of respiratory diseases motivates others. Hybrid owners also receive tax deductions, which may be a factor to be considered. Whatever your reasons, if you’ve decided to buy a hybrid, you’ve probably done your research. You’ve checked out the facts and discovered that while they may cost more initially, hybrids are far more environmentally-friendly and you’ll save a ton on gas in the process. There is however, one relatively unclear dilemma about the practically of owning a hybrid: auto insurance. How do auto car insurance quotes differ when it comes to hybrid cars? Are hybrid cars at a higher risk and does buying one mean that you have no option but to pay higher insurance rates?

Let’s look at the issue from the perspective of car insurance companies. The average hybrid car owner would be someone who is environmentally conscious, has a sense of social responsibility, as well as the means to pay a little bit extra to do his or her part. People who fall into this demographic tend to be middle aged, financially stable, cautious drivers who are unlikely to engage in rash driving. Since demographics play a large part in determining premiums, from the perspective of insurance providers, Hybrid owners tend not to be high risk drivers and are in the age group which has the lowest accident rates, which should earn them low cost car insurance rates.

Hybrids however, employ some of the most cutting-edge technology and their maintenance and repairs tend to cost more than gas-only cars. Granted hybrid- specific components have long warranties and simple maintenance can be conducted at any repair shop but even so, cars with expensive parts tend to cost more to insure. Another issue is that small cars-hybrids and otherwise- tend to cost more to insure. They are harder to see on the road, tend to have more fragile structures, and hence are more likely to be involved in crashes and suffer more damages than your average SUV. While these concerns apply to all small cars, the size of the hybrid definitely affects its insurance rates.

This however, does not mean that Hybrid car owners need to resign themselves to sky-high insurance rates. Due to the fact that we’re progressively becoming a more socially and environmentally conscious society, the fact that the Hybrid employs the latest technology and safety features, as well as the increasing prices of gas, this model is rapidly gaining popularity, and as it continues to do so the prices will fall, the availability of parts will increase, and all in all, many of the financial problems associated with this car will cease to exist. As statistics supporting the safety and functionality of hybrids emerge, the insurance rates for hybrids will start to stabilize. Also, many insurance providers are now encouraging the use of hybrids by offering online car insurance quotes for hybrids. This means that even if your initial insurance rates look a little steep, your premiums will actually be much more affordable than you fear.

There is confusion surrounding the issue of hybrid cars and insurance rates- some say that hybrids and insurance-friendly while others hold the belief that owning a hybrid is like asking for exorbitant premiums. At the end of the day, thanks to hybrid- specific discounts, the rates are not dramatically higher for hybrids. And even the existing gap can be bridged by availing of other discounts such as a defensive driver’s credit, a good driver discount, air bag and safety mechanism installation discounts, etc. The lower gas prices, tax rebates and general sense of satisfaction from standing up for what you believe in may just tip the balance in the hybrids favor for many individuals. Besides, if you look hard enough, chances are you’ll be able to find reasonable auto insurance quotes, even for a hybrid.