Cheap car insurance for Eco-friendly cars
Owning an Eco-friendly car sure is nice. And it seems that the trend for environment-conscious choices in on the rise in the car industry. More “green” models hit the market every year, giving people the choice of buying hybrid or electric vehicles that are promised to save their money. This is partially caused by the ever increasing fuel prices, which isn’t surprising given the scarcity of oil. However, it’s hard to deny that more people are becoming conscious about the dangers of carbon-footprint, willing to reduce the impact on the environment through such simple means as buying Eco-friendly vehicles. But is it that affordable in the first place? And can you get cheap car insurance for a hybrid or electric drive car?
While electric drive cars still seem to be a rare beast on the road and at the car dealer’s, hybrid drive cars have become rather common. Sure, it’s not that they outnumber ordinary cars in any way, but it’s not such a rare site to raise eyebrows and attract too much attention. Besides, most hybrid drive cars these days look exactly as their conventional-drive peers, and you can easily find small cars, sedans, hatchbacks and even SUVs equipped with the hybrid drive. Are these cars affordable? Definitely yes, if Compared to the prices on hybrids we had some 6-7 years ago when they were still new. Just add up several thousand dollars to the price of a similar internal-combustion engine vehicle and you will have an estimate of what a hybrid will cost you.
As for electric vehicles the prices may range a lot, depending on the make and the features included, as there are both small cars priced around several thousand dollars and luxury Eco-sports cars with a price tag around $100k. Whether it’s affordable is certainly a question of your personal budget. But what about cheap car insurance? Are these cars easy to insure?
Most people associate hybrid vehicles with cheap car insurance because of the massive incentives offered by insurance companies when the first hybrids hit the market. This was part of the USA government initiative for stimulating sales of Eco-friendly vehicles, which were rather costly about a decade ago. So it was rather common to get cheap car insurance for a hybrid drive car that was priced times the price of a similar conventional-drive vehicle. Still, things have changed a lot since then. Eco-friendly cars became more common and cheaper, so there was no longer need in providing incentives. And when the insurers started analyzing their risks with hybrids just as they do for ordinary vehicles, it turned out that the risks are identical. Driving a hybrid doesn’t give you an edge in any way, besides the improved gas mileage and lower carbon footprint. The insurance costs associated with hybrid vehicles turned out to be similar to those of the same car models but with ordinary engines, so the drivers started receiving identical quotes regardless of the engine type. However, some companies reserved the incentives for Eco-friendly cars, which still delivered cheap car insurance for hybrid and electric vehicles. And that’s probably the only way to get cheap car insurance for a hybrid drive these days besides shopping around.
As for electric drive cars, insurers are still very cautious about assessing the costs of insuring such vehicles. Some insurance companies will avoid covering them altogether, while others will offer higher rates. That’s because such cars are still few in number and there’s not enough statistical data to draw any conclusions on electric motor vehicles. So it may be a bit hard to get coverage for such a vehicle in the first place, let alone getting cheap car insurance. But don’t forget about shopping around, as you never know what offers you can come across for your electric vehicle.