Hybrid Car Insurance

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Choosing to own a hybrid car is usually a matter of lifestyle and not economy. However an Eco friendly can can also come with a lot of money saving advantages. Despite the fact that they are more expensive to acquire, the initial investment is returned shortly as these cars help you save a lot on money on fuel. Most people believe that green cars are also cheaper to insure but this is not always the case. Today we are going to discuss the costs of a hybrid car insurance policy.

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Costs
Although hybrid cars come with a lot of financial benefits, in the long run they are more expensive to insure. The main reason why these cars will attract higher insurance premiums is the fact that they are generally more expensive than regular cars. Furthermore the parts are also more expensive. Hybrid cars usually contain very new electronic components which are unlikely to get fixed by regular mechanics. Given this facts, you can easily draw the conclusion that in case of an accident, a hybrid car is a lot more expensive to insure and as a result hybrid car insurance premiums will always be higher. A lot of people believe that hybrids are more fragile in case of accidents but this is far from being true. There have been numerous crash tests performed on both hybrids and regular cars and as it turns out, in most cases, hybrid cars performed a lot better and were proven to be safer than their less green alternatives. Therefore don’t let the higher premiums trick you into believing that hybrids are less safe.

Green discounts
Given the fact that the whole world is starting to acknowledge the importance of sustainability in our lives, going green is starting to be a matter of marketing. In conclusion more and more companies show their support to the environment in order to earn the trust of their customers. However, we all know that insurance companies rarely do any good dead without a profit. Most car insurance companies will give you a discount for owning a green car but this discount has nothing to do with encouraging people to buy Eco friendly cars. According to various statistics people who own green cars drive less miles therefore they are less exposed to accidents. However, rest assure that this discount is compensated by overall higher insurance premiums for hybrid cars. However, if you do own a hybrid or you plan on owning one make sure that you pick an insurance company that offers green discounts for hybrids as these can help you save between 5% and 10% on your hybrid car insurance. However keep in mind that these discounts don’t apply to all your coverages. For example the discount doesn’t generally apply to personal injury protection or other similar coverages.

What the future holds
Given the fact that fuel is a lot harder to find and extract than it used to be, its costs will continue to grow in the future. As a result more and more people will turn to hybrid or fully electrical cars. This will ultimately make hybrid car insurance less expensive. It may take a while to get there but eventually it will happen. As we said before, owning a hybrid car has little to do with costs and more to do with lifestyle choices. And eventually, whether we like it or not, this is a step that all drivers will have to take. Fear not as green cars can also have high performance. Take for example the 2013 Tesla Model S which is a gorgeous fully electrical yet quite powerful car.