How Your Hybrid Just Might Cost You More in Auto Insurance

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Things to Remember...

  • The rise in hybrid sales might be good for the environment, but your auto insurance company does not like it
  • Driving a hybrid can cost more to insure than a standard vehicle
  • The more miles you drive, the higher the risk of having an accident

Hybrid cars are taking the fast lane by storm. This rise in hybrid sales might be good for the environment, but your auto insurance company does not like it.

It is currently predicted that auto insurance rates on hybrid cars is about to climb higher than those gas-chucking SUVs. Things like the amount your drive, the expense of replacement parts and service and other factors will all make a difference.

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Hybrid Drivers Clock More Distance

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Research is showing that hybrid car drivers spend more time behind the wheel. Those miles you’re clocking have an impact on your auto insurance rates.

One of the reasons you have to turn in your mileage and model year to your agent is to show your driving profile. The more miles you clock, the more you’re at risk for getting into an accident.

Hybrid owners clock more miles mainly due to how little money comes out of their pockets. It may cost a hybrid owner pocket change to drive to grandma’s house for Christmas instead of stressing over airfare.

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Repair Costs are Substantial

Repairing a hybrid is not a simple task. It now takes specialized mechanics to work on all the technology that runs a hybrid. This cost plays a large role in your auto insurance premiums.

Auto insurance companies are looking at the average cost to repair a hybrid in an accident.

This might seem minor to some, but when you add that up over thousands of insured hybrids the costs get astronomical.

Aftermarket Parts Just Don’t Rock

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The hybrid parts market has not come of age either. Hybrids are still relatively new.

Scrap yards have yet to acquire large surpluses of parts to help mechanics in the repairs of these vehicles.

These repair bills then are turned into auto insurance companies. These companies tend to frown when a headlight costs a few hundred instead of a few Lincolns.

Auto insurance companies will have to recuperate that cost in some form, which does not lead to cheap auto insurance.

It’s All About the Sales

Sales were not that huge when hybrids first started coming onto the market. Sales have rapidly increased over the past decade.

While this is a great indicator of how well hybrids are being received, it means the likely hood of having an auto insurance claim come in on a hybrid vehicle is much higher.

There are several cars out on the road that are better when compared to a hybrid car when it comes to miles per gallon. You may have to learn how to pump some diesel fuel instead though.

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