How Does a Hybrid Car Affect Your Insurance Rates?

​Most hybrid drivers know that the decision to change a gas-powered vehicle to an electric car or a hybrid is more of a lifestyle option, not an economic one. Although having a hybrid or electric vehicle can save you money at the pump, you may not enjoy the high initial price tag of the car. However, here are some facts about how your type of car will affect your insurance premiums.

Auto Insurers May Offer Discounts to Hybrid Drivers
There are a few big names in the auto insurance industry that would offer discounts to hybrid drivers. That would mean as much as a 10 percent discount for some hybrid vehicles. Ten percent may be a small amount to you. However, that could still mean as much as $3,000 worth of savings a year for some car models. In that case, having a hybrid would mean an economic decision.

Some Insurance Companies May Charge Higher for Complexity
The hybrid car is relatively more complex than the gas-powered vehicle. That would mean the more difficult it is to repair or replace it. Also, the cost of repairs for hybrid cars would be more than what’s usual. Thus, you should expect some insurance companies to charge you higher premiums. These are the insurers that don’t appreciate your car’s environmental value. Moreover, if someone steals your hybrid, the insurer will have a harder time to replace it.

Some Insurers Give Discounts Based on the Emissions 
The lower the emission rate of your car, the less its premiums may be because of discounts. Some companies would charge zero first year tax rate for cars with zero-emission but as much as $2,000 for those with more than 300g/km emission of CO2. Thus, if you are curious about such discounts, always ask your insurer or find ones that would give you discounts.

Some Insurers Will Offer Discounts to Hybrid Drivers Because of Safety Credentials
A hybrid will always be safer than a gas-powered vehicle, especially when it comes to performance. In fact, some people say that electric cars are the best performers. They have better acceleration and can balance it with energy consumption. Thus, if you have a hybrid or electric vehicle, you’ll have better acceleration and brakes. Therefore, you have better safety. That’s the reason for your discounted premiums.

Some Final Words
It's always necessary to check with your insurance provider if you want to know what type of coverage your car insurance policy offers. Moreover, ask your insurer what you can do if you're going to have lower premiums. The most important thing is that you can make a well-informed decision about your hybrid car. Get auto insurance now for your car, but always make sure of your discounts first. 

At Priority Insurance LLC, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (864) 297-9744. Get your free quote today by CLICKING HERE.