Think back to why you wanted a hybrid or electric vehicle. Was it because you wanted a smaller ecological footprint? Perhaps you were looking to ditch your gas-guzzling SUV in exchange for a more economical and energy independent car. Whatever your reason, you probably noticed one thing about hybrid vehicles – nothing is the same as it once was. We’re not just talking about the way you fuel up. Even your car insurance is affected by the type of vehicle you drive. Continue reading to find out what you need to know about getting an online car insurance quote for your hybrid or electric car.
Your Insurance Premiums May Be Higher
Hybrid vehicles are notorious for costing much more than their gas-only counterparts. A fuel-based car that costs $25,000 could easily cost 30 to 50 percent more in hybrid form. While tax credits and gas savings offset much of the expense, many drivers overlook the fact that most, but not all, hybrid vehicles cost more to insure as well. The main reason for this is that the cost to repair or replace a hybrid or electric vehicle can be much more than a traditional car, truck or SUV. While the cost difference of insuring a hybrid or electric car may not be hundreds of dollars per year, the cost of insurance should be considered it when budgeting for a new vehicle.
Hybrid and Electric Cars May Cost More to Repair
If you drive a hybrid vehicle, your car has both an electric motor and an engine powered by gas. Together, these provide excellent fuel mileage that often exceeds 45 to 50 miles per gallon. However, the advanced battery systems within these vehicles require the expertise above and beyond a mechanic understand to repair after an accident. Not to mention, these battery systems are expensive, which drives up the average cost of replacement.
Hybrid Vehicles Have a Higher Claims Rates
According to the Insurance Institute for Highway Safety, drivers of hybrid vehicles are 20 percent more likely to have claims involving pedestrian injuries than drivers of non-hybrid vehicles. This is because pedestrians are less likely to hear a quiet, electrically-powered hybrid as it approaches. In addition, the frequency of claims for hybrid vehicles is slightly higher overall than those of standard powered vehicles.
You Still Qualify for the Same Great Discounts
Although hybrid and electric vehicles do require special treatment, your insurance still works the same way it would if you were driving a more traditional vehicle. Don’t be afraid to ask your agent about discounts on your hybrid car insurance after you have reviewed your online car insurance quotes. Many hybrid and electric car drivers are able to reduce the cost of coverage by combining their policies with additional lines of coverage, such as homeowner’s or renter’s insurance. Other discounts may also be available, such as those for paying your premiums in full or taking a safe driver course.
If you drive a hybrid or electric vehicle, make certain you have the right coverage to fit your unique needs. Visit our website to request your online car insurance quote or call the team here at Tagge Insurance to speak with one of our helpful team members in person.