Hybrid cars offer numerous advantages, including a high resale value, exceptional fuel economy and reliability, and low carbon emissions. However, many prospective buyers are concerned about the cost of car insurance, as these cars are often more expensive to insure. Thankfully, you can still save money over time. Below is more information about why insurance costs are higher, as well as the available discounts.
Do Hybrids Cost More to Insure?
Generally, hybrids cost more to buy and replace, as they have unique parts and service requirements that make them more expensive to repair than traditional vehicles. For example, while the battery for a fuel-burning vehicle is relatively inexpensive, this component can be more than 10 times the amount in a hybrid, as it is much larger. This means your insurer faces a greater potential claim, so they charge more in premiums to compensate for the risk. However, since hybrids often last longer than other vehicles, this amount starts to decrease after owning the car for several years.
Are There Special Coverage Requirements?
Even though the cost of coverage is higher, car insurance for a hybrid is mostly identical to a standard policy. The only difference is that carriers often offer a discount to electric and hybrid vehicle owners that is not otherwise available. This discount is usually known as a "green vehicle," "alternative fuel," or "fuel efficiency" discount, and the amount and name vary between carriers.
What Discounts Are Available?
Aside from the green vehicle discount, there are other ways to reduce the cost of your car insurance, with many of them applying to both hybrid and traditional vehicles. For example, if you have not had an accident or ticket in a set number of years, you may qualify for a safe driver discount. Some carriers even reduce the monthly premium slightly if you opt for electronic statements and bills, as this means they don't have to spend money mailing you updated information each month. One of the largest discounts comes if you insure multiple cars or bundle your home and auto insurance with a single carrier.
If you need high-quality hybrid car insurance, contact A.W. Adams Insurance in Clayton, GA. This locally owned, independent brokerage has served residents throughout Rabun County since 1965. As independent agents, they can search through their broad provider network to find the right auto, home, life, or business insurance policy at the best price. Visit the website for more information about their services, and call (706) 782-5100 to request a quote.