Car Insurance for Hybrid Car Can Be Cheaper?
Hybrid cars have a higher price tag compare with cars that operate on gasoline. However, many car insurance companies have assign discount for hybrid cars.
Since hybrid car don't use gas, they are much more environmentally friendly. The use of electricity to run the hybrid car makes it unable to operate on a longer mileage. Because it does not have a lot of mileage, the owners are less likely to use it for reckless activities which can cause accident. Due to this fact, hybrid cars fall in the preferred insured category. The preferred insured category lists car models that are associated with responsible and mature car drivers.
According to the statistic report of the insurance companies, hybrid car owners seldom involved in car accident. Most hybrid car owners are in their 40s so they are more responsible for their driving activities. Based on this statistic report, car insurers offer 10% discount for the hybrid car. The discount enables the policy holders to save about $100 per year. Despite that, the repair cost of the hybrid car is more expensive.
The repair cost of the hybrid car is expensive because of the expensive parts. Due to the high repair cost, the insurance premium for the hybrid car will be much higher. Though you will be charged with higher premium cost, you are guaranteed 10% discount by the car insurance company. The 10% discount may not be available to all states. The eligibility of the 10% discount is based on individual circumstances.
The first car insurance company to offer premium discount on hybrid car is the Farmers Insurance Group of Companies. The Farmers Insurance Group of Companies offer 5% discount for customers in California. Travelers Insurance offers a discount of 10% to owners of the hybrid cars. Some insurance companies do not offer discount in the hybrid car because of the high repair cost. Examples of insurance company that don't offer discount on car premium is State Farm.
Just like other cars, the hybrid car insurance is also influence by factors such as safety features, driver age, credit score and driving history. The automatic seatbelt is a common safety feature that insurance company approves. If you have a grade B in your college or university report card, you can provide proof and get a Good Student Discount.
It is expected that an increasing number of car insurance companies will offer discount in hybrid car in the rear future due to the high demand of the hybrid cars. When shopping for hybrid car insurance, make sure you perform comparison between different companies. You should apply with the insurer that offers the most benefits and cheapest premium cost for your hybrid car. If your friend has a hybrid car, you can ask her to give you recommendation on an insurance company that offers the best deal.