Hybrid Cars get Car Insurance Discounts?

Jacqueline — Thu, 21 May 2009 14:14:32 +0000

You might have though that when you opted in for a new hybrid car, you were playing your part in helping reduce CO2 pollution and that you would also get a lower premium on these types of cars. Be prepared for a shock, since these premium costs nearly double when compared to the premium costs of normal cars. There are some insurance agents who do offer lower cost premiums for hybrid cars, but there are not many of them around. The reason why insurance charges for these hybrid cars are higher are due to the fact that they are relatively new products and have not yet withstood the test of time.

General cars have been around for many decades and the insurance companies know all about them and the costs involved to repair them in case they get damaged. Hence they are offering low rates for such cars. The same is not true of the new generation hybrid cars. Take for example the cars that run on compressed gas. The insurance companies do not know whether a slight bump might cause these gas cylinders to blow up or not. They also have not adjudged the extent of damage the car will suffer in case the cylinder does burst. Though car manufacturers take every precaution while designing these hybrid cars to ensure that they are safe, the insurance companies do not believe in simulated data.

They want to observe these cars for a few years and learn more about their inherent risk factors before they will reduce the premium costs. Till that time, be prepared to either pay a higher premium by option in for the special insurance policy for hybrid cars, or just opt in for a general policy to cover your hybrid car to the maximum extent offered by the insurance agencies.

First Car Insurance » Hybrids

Hybrid Cars get Car Insurance Discounts?