Why Hybrid Cars Tend To Attract High Insurance Rates, And How To Lower The Rates
Hybrid cars tend to attract higher-than-average insurance rates, but this is not because insurance companies target them or are "out to get" hybrid owners. It is just that hybrid cars tend to have features that make them a higher risk to insure than traditional gas cars. Here are some of the reasons auto coverage for your hybrid may be costly, and what you can do to manage the rates.
Hybrids Tend To Be Smaller Vehicles
One of the reasons hybrid cars cost more to insure than gasoline cars is because the former tend to be small cars, on average. Sure, there are hybrid cars that don't fit this description, but if you compare the majority of hybrids on the rod versus traditional cars, the hybrids tend to be smaller. This is bad news as far as insurance coverage is concerned because small cars tend to come off worse in auto collisions. Their damages, therefore, cost more to repair than other bigger cars on the road.
Hybrids Tend To Be Relatively Expensive
A typical hybrid car is likely to cost more than its gasoline-powered counterpart. Sure, the availability of a rebate may lower the price of the hybrid somewhat, but you can't always rely on the availability of government rebates because they keep changing. If you just compare the sticker prices of gas vs. hybrid cars, the hybrid one is likely to be expensive. This means that your comprehensive or collision insurance coverage for the hybrid is likely to be higher too because the insurance company will spend more money to replace the car in case it is stolen or written off in a damage.
Hybrids Cost More to Repair
Lastly, an average hybrid vehicle may also cost more in terms of insurance coverage because they are expensive to repair in case of damage. Here are three main reasons hybrids cause more to fix up when damaged:
- Their electric parts are expensive to replace
- Their electric parts are complicated to repair
- Their used or aftermarket parts are a bit scarce
What You Can Do
Still, the above applies to a "typical" or "average" hybrid car; there are actually things you can do to ensure your hybrid doesn't fall into that category. For example, you should:
- Buy a hybrid that has been around for some time because its parts are likely to be reasonably priced and available
- Consider the safety rating of your hybrid before purchase
- Take standard measures that apply to all cars, such as maintain a good driving history, to lower your rates
For more information, contact your local auto insurance company.
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