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Car Insurance Discounts for Hybrid Vehicles

Car insurance discounts for hybrid vehicle are only the latest in a long list of reasons many hybrid owners have for owning these technological marvels. Hybrid vehicles make up a small but important and growing niche of the overall domestic and world auto sales market. More and more manufacturers are getting into hybrid design, with different applications of hybrid technology from simply shutting the engine off during braking to full on hybrids that plug into a wall outlet and can be driven without any gas at all up to a certain distance.

Overview of Hybrid Vehicles

Hybrid vehicles are sometimes, but not always, smaller and more fuel efficient vehicles. Originally designers envisioned them as compact cars capable only of carrying a few passengers. The small size and light weight of these cars made them easier to move using electric power. Today's generation of hybrids, however, includes a growing number of trucks and SUVs including full-size SUVs capable of achieving twice the gas mileage as their standard powered counterparts can get. A hybrid is loosely defined as a car, truck or SUV with multiple power sources.

There are currently several different applications of hybrid technology in use in vehicles today. They range in their use of technology and the resultant savings in fuel economy and emissions. Hybrids do cost more than standard gas powered cars and trucks, but that price discrepancy is coming down, as hybrid technology becomes more affordable and production increases. With gas prices fluctuating up and down so dramatically the way they have over the past few years, more drivers have opted to purchase hybrids to shield themselves somewhat from the growing cost of fuel. This is one reason why manufacturers have chosen to develop hybrid options for some of their larger vehicles, in an effort to improve their fuel efficiency and make them more appealing to the general public which has become more and more concerned not only with gas prices, but also with the impact cars have on the environment.

Discounts on Hybrid Insurance

As the auto industry has warmed over time to the concept of hybrids and made them a larger and more important part of their large-scale production plans, auto insurance companies have picked up on this theme as well and started recognizing the importance and value of hybrid vehicles in their own way. As always, the industry is dominated by research, and in the instance of hybrid cars, auto insurance industry researchers have found that the typical buyer of a hybrid vehicle tends to be a more environmentally conscious, more safety concerned driver. Hybrid owners on average tend to have solid credit histories and good driving records. For this reason, discounts are available for insuring these cars.

Getting a discount for a hybrid car is not a given, at least not at the present time. But more and more auto insurance companies are becoming willing to grant these discounts for hybrid cars. The reasons are numerous, some of which have already been mentioned. All in all, research has shown hybrid cars and car owners to represent a lower risk to insure, which translates into monetary savings for the insurers, savings they are willing to pass on to customers as an enticement to seek out and retain this group of drivers so statistically attractive to the industry.

The discounts offered by domestic car insurance companies for hybrid vehicle owners are substantial, sometimes in the range of 10 percent right off the top. In some cases, these flat rate discounts do not apply to every single provision of your auto insurance coverage. For example, if you carry personal injury protection (PIP) or uninsured motorist coverage, they might not get the same across the board discount treatment as other areas of your policy. Still, the idea of being rewarded financially on your policy for a decision you are going to make anyway makes buying a hybrid that much more appealing to a lot of policy holders. Many drivers are teetering on the edge of buying a hybrid, hesitating only because of the additional cost. A break on car insurance can help ease the sting of hybrid sticker shock and make the decision to go ahead and buy one easier to live with when the payments come due.

Once again, it must be pointed out that not every car insurance provider offers discounts for drivers of hybrid vehicles. But a growing number of providers are offering discounts, making the idea of owning a hybrid more and more appealing to some. If you are thinking of buying a hybrid but are concerned about whether you can really afford it, do not hesitate to contact some car insurance providers about this option and get some quotes on coverage to see what you could be saving. You may find that the car insurance discount makes hybrid ownership attainable in spite of the higher cost of hybrids.

Additional Benefits for Hybrid Owners

Hybrid car drivers can get the hybrid car insurance discount whether they lease or purchase their hybrid, so this is one more benefit to keep in mind. Beyond the hybrid discount, there are other benefits you could earn as a policy holder to drive your premium rates even lower. Not all drivers qualify for every discount, but it is good to keep them in mind as you begin price shopping so that you know what is out there and you know what to look for in a policy. This is a good rule of thumb for every driver, and not just for hybrid car owners. Know what discounts you should qualify for and ask for them. Do not wait for the providers to offer these price breaks to you. Ask about hybrid insurance discounts, and also ask about any others you think you have coming.

For example, you could get a multi-policy discount for carrying your hybrid car insurance with the same carrier you use for homeowners or life insurance or some other policy. Multiple policy discounts are great because they help you to save money on both policies. You could get a preferred driver discount if your driving record and credit history warrant it. Passive restraint systems, airbags and anti-theft devices can all help you save additional money on your hybrid car insurance policy. None of these discounts affects your hybrid car insurance discount itself, so in the right situation, the savings can really add up. On top of all of this savings directly from the auto insurance carrier, many hybrid cars also qualify for significant federal tax incentives, which could bring their cost into line with that of a standard gas powered car or even lower depending on the overall savings package.

Hybrid vehicle only represent a small portion of the overall domestic auto market, but their influence is growing as quickly as their sales, with more hybrid technologies being added to a growing number of fleet vehicles. Those who are hoping to save on fuel expenses while also helping the environment are well advised to look into their many hybrid vehicle options. Car insurance discounts for hybrid vehicles make them an even more attractive option for prospective new car buyers.



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