What A Hybrid Will Do To Your Insurance Premiums
The biggest sales point for hybrid vehicles is the fuel savings they offer. The savings are there, but fuel is often the least expensive aspect of owning a car. Few people think about how a hybrid will affect the most expensive cost of owning a car: their insurance.
Insurance companies can not agree on how to view hybrids from a premium point of view. Some believe that a person who buys a hybrid is more interested in saving money and less interested in taking risks while driving. Others think that hybrids are still new technology and point to their higher MSRP as reason to charge a higher premium. Here are how the insurance premiums of a few of the most common hybrids stack up against their gasoline versions.
- Honda Civic Gas…$1,307.98 per year…Hybrid…$1,486.22 per year
- Toyota Camry Gas…$1,275.85 per year…Hybrid…$1,517.31 per year
- Porsche Cayenne Gas…$1,780.38 per year…Hybrid…$2,235.52 per year
Most experts agree that, while insurance premiums for hybrids are higher now, they will come down as time passes. For now, the best way to save is to get car insurances quote online for your hybrid.