Environmentally-conscious consumers – those who buy hybrid vehicles – are also looking for hybrid car insurance, finding inexpensive auto insurance to meet their needs. It’s not as easy as you might think, since there are few auto insurance companies that have specifically designated policies for this relatively new phenomenon.
An article in Allstate on Insurance Industry News reveals findings from property and casualty claims that hybrids average a 6.5 percent higher claim rate than regular vehicles, making hybrids more costly to insure. The profile of the initial eco-conscious consumer has broadened to include a new base of buyers interested in cutting fuel expenses associated with long commutes. This has created an entirely new risk profile for hybrid vehicle drivers, and, according to the report, will likely result in an increase in insurance rates for hybrid vehicles.
Travelers (Travelers Indemnity Company) is among the first in the industry to offer insurance discounts for purchased and leased hybrid vehicles. Owners don’t have to purchase multiple policies in order to be eligible for the discount, although they can save even more money if they combine auto insurance with other types of insurance Travelers offers. The hybrid vehicle discount doesn’t apply to either the uninsured motorist (UM) or personal injury protection (PIP) portions of automobile insurance coverage. The Travelers hybrid car insurance discount is subject to individual eligibility and is only available in 44 states and the District of Columbia. As reported HybridCars, the Travelers hybrid auto insurance discount is 10 percent.
Check out USInsuranceOnline.com, an online insurance portal, which works with providers such as Farmers, Allstate, Liberty Mutual, Progressive, and Nationwide, to find out more about hybrid auto insurance discounts. If you qualify, you may be eligible for up to a 10 percent discount for hybrid car insurance.
The best way to improve your chances for hybrid car insurance, finding inexpensive auto insurance, is to concentrate on the basics. Use safe driving practices, maintain a clean driving record, keep your credit history top-notch, drive fewer miles annually, garage your vehicle, and take advantage of all available discounts for which you may qualify.
Bottom line: When searching for hybrid car insurance, finding inexpensive auto insurance depends on a number of factors, just as it does for insuring gasoline- and diesel-powered vehicles. You simply have to do your research, ask a lot of questions, and be persistent. As the numbers of hybrid car owners continue to rise – especially with fuel economy standards rising to 54.5 miles per gallon by the year 2025 – insurance companies will jump all over this burgeoning new market for hybrid car insurance.
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