If I Buy a Hybrid – Do I Get a Discount on My Auto Insurance?

If I Buy a Hybrid – Do I Get a Discount on My Auto Insurance

One of the first questions new or future hybrid owners ask is – does buying a hybrid mean I get a discount on my auto insurance? Well, let’s begin by saying the safer your vehicle is the better the chance you and your passengers will have to avoid being seriously injured or killed in an automobile accident. If your new car is equipped with the latest collision avoidance or anti-roll systems, among other innovative safety features, then your insurance company may consider that worthy of a discount on your rates.

When it comes to your new hybrid itself, the driver actually earns the discount, not the hybrid. Here’s why: Drivers of hybrids are generally considered to be more mature and responsible behind the wheel. Whether that is completely valid or not…that’s the general consensus. For the most part, owning a hybrid is currently thought to be a sign of your environmental consciousness to protect the planet, to save a few bucks at the pump, and to have access to the HOA lane. In addition, research shows that hybrid drivers are a lower insurance risk than drivers of gas-powered vehicles because they drive fewer miles overall.

Stereotypically, hybrid owners are labeled as conscientious individuals who weigh their decisions thoughtfully before acting, drive defensively, and are not prone to risky driving behavior. While nothing stands out about an alternative fuel vehicle that makes it any less or more safe than traditional gas powered vehicles, auto insurers place owners of these types of vehicles in a preferred category, one that may get you a discount of up to 10 percent off your premium. Again, the reason: Many insurers categorize hybrid owners as less likely of getting into an accident or filing an insurance claim…thereby, lowering the risk for the insurer.
Ironically, some of these insurers are apparently granting the discount without much consideration of the owners’ overall driving habits, especially when studies have shown that hybrid drivers get nearly 66 percent more traffic tickets, as a whole, than non-hybrid owners. Deserved or not, many insurers offer these discounts, which is why you should take advantage yourself if you own or plan to own a hybrid.

Of course, the benefits of owning a hybrid for entirely economic reasons is a debatable issue among those who are less than impressed by the technology and the higher price tag that goes along with owning one. However, like them or not, one thing is certain – the lower emissions and greater fuel economy are indisputable facts based on proven test results. Other alternative fuel vehicles like the plug-in electrics and hydrogen fuel cell vehicles are also subject to similar auto insurance discounts.

So, the choice of buying a hybrid or a plug-in electric is one that needs some thought before going through with your decision to own one. But, if you’ve researched the car you want and have your heart set on being the proud owner of a hybrid, make sure you ask for the rate discount you may be entitled to.

Also, make sure to check that you’re getting the best rate on your auto insurance. Why not get a free auto insurance quote today?

Do you own a hybrid and would you recommend getting one? Feel free to share your thoughts in the comments section below.