Are hybrid cars more expensive to insure?
The answer to this question is yes, they typically are. In lists that rank insurance costs by make and model, the hybrid cars are usually ranked higher than other small sedans when it comes to the car insurance costs. Most hybrid cars are small and technologically unique, driven long distances, and extremely expensive. These cars are more expensive to insure because of their design rather than its energy source.
Hybrids Have Decent Safety Ratings
Many people believe that small hybrids cars are designed using fragile materials to help keep them lighter. But that’s not the case, bumper tests and high-speed crash tests show hybrids are just as safe as any other small car that is being manufactured today. There is no reason for an insurance company to raise car insurance policy rates on a hybrid based on its safety record.
Since smaller cars can get damaged pretty easily, there is a higher injury rate for drivers and passengers in smaller cars. The car insurance companies raise their rates to cover the additional costs of paying out an expensive medical claim.
Commuters Gravitate Toward Hybrids
Another reason hybrids tend to carry more expensive insurance is because of the way people tend to drive them. Insurance companies charge more for insurance policies that are held by people who drive a lot. The combination of driving a long distance during rush hour and the increased speed of highway driving can create a relatively high insurance premium for a hybrid driver.
Advanced Technology Means Expensive Repairs
Drivers can have regular maintenance like oil changes and tire rotations done at any shop, but specialized repairs will need to be done by a mechanic who has been trained to work on hybrids. Since the parts and labor are specialized, the hybrid repair is more expensive than traditional car repair. The insurance company will charge you more for your hybrid car insurance policy to cover the increased costs of fixing your car if it gets damaged. Car insurance Policies have lower operating costs that help in decreasing the premiums. Furthermore, you are very likely to get more benefit during car insurance renewal, be it a zero depreciation car insurance or a third party car insurance policy.
Insurance Costs not related to Hybrid Status
The bottom line is that most of the car insurance costs related to owning a hybrid has nothing to do with the fact that the car is a hybrid. Hybrid sedans happen to fall into a more expensive category when it comes to the size of the car, its overall value, and the expensive repairs that the car requires. If you drive your hybrid thousands of miles each year, your insurance rates will reflect that too.