A recent technological advancement has profoundly altered the automobile industry. It’s a development that was unthinkable only ten years ago. The hybrid. Thanks to the hybrid, consumers now have the option of purchasing a vehicle that runs both on gasoline and electric power. And as a result, consumers are no longer at the mercy of the oil companies and their ever-fluctuating gas prices.
Obviously, owning a hybrid car can lead to some serious savings at the gas pump. But what can hybrid owners expect to pay for car insurance? Conventional logic states that these owners will pay more for car insurance. After all, hybrid vehicles have a higher sticker price, so it only makes sense they would be more costly to insure. But is that really the case? Let’s examine this further.
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Hybrids Are Among the Least Expensive Cars to Insure
So you believe hybrid cars cost more to insure than standard vehicles? Well, think again. According to a recent report released by the Insurance Institute for Highway Safety, a few hybrid vehicles are among the cheapest cars to insure. In fact, for mid-size four door cars, three hybrids were in the top ten list of the least expensive cars to insure. These include the Chevy Malibu Hybrid, the Honda Civic Hybrid and the Ford Fusion Hybrid. But, if hybrid cars are more expensive and contain more expensive parts, how can they be cheaper to insure?
Car Insurance Companies Like Hybrid Owners
What type of person owns a hybrid vehicle? It is fairly reasonable to conclude that they are the sensible type, the kind of person who thinks long and hard about what kind of vehicle they want to drive. They aren’t prone to rash decisions and very practical. Also, according to statistics complied by automobile companies, they are the type of motorist who is less likely to file a claim. And that is music to the ears of car insurance companies. Since studies indicate these owners present less of a risk to insure, some car insurance offer incentives to try and attract these hybrid owners. These incentives can come in the form of lower annual premiums and discounts.
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Discounts for Hybrid Owners
A number of auto insurance companies offer discounts specifically tailored to owners of hybrid vehicles. These discounts can amount to as much as 10% off the base premium. Not too bad for simply owning a certain vehicle model. Now, if you combine this with other discounts that the motorist might qualify for, such as the “Good Driver Discount,” a hybrid owner could see a drastic reduction in the cost of their annual insurance premiums.
Compare Car Insurance Quotes for Hybrids
However, they only way to find out which insurance companies offer discounts and lower annual premiums for hybrid owners is to get an online auto insurance quote. We here at Cheap Quotes Car Insurance have partnered with the nation’s top insurance companies so you can find this information in one convenient place. Simply fill out the online quote form and within minutes you will have an insurance quote for your hybrid. We recommend getting at least three online quotes so you can determine which companies offer you the most amount of coverage for the least amount of money. So what are you waiting for? You are a sensible, practical owner of a hybrid. Get multiple online insurance quotes and start saving today!