Increasing car insurance costs for hybrids.
Hybrid cars are a great way to save money as the gas pump. However, hybrid vehicles can also come with other hidden costs that can easily eat into the savings that you see at the gas station. Knowing what your auto insurance costs will be before buying a hybrid can help to ensure that you buy a car that you can truly afford.
Typically, car insurance rates for hybrids are higher than rates for gas versions of the same vehicle. Studies have shown that on average, hybrids cost around 7 percent more to insure than gas only vehicles. Keep in mind that the 7 percent increase is only an average, which means some vehicles will come with higher rates and some will come with lower rates. There are various reasons that the cost of car insurance for hybrids is more expensive, including:
- Hybrids typically have a higher value than gas-only versions of the same vehicle, which means higher collision and comprehensive payouts after and accident.
- Hybrid vehicles generally cost more to repair than gas-only versions of the same vehicle because of expensive components, such as the battery system, and the special training that mechanics needs to work on hybrids.
Studies have also shown that hybrid vehicles also have more claims than gas only vehicles. Since hybrids tend to appeal more to people who spend a lot of time on the road and in traffic, they are on the road during heavy traffic times, which increases the likelihood of an accident.
No matter if you have a gas or hybrid vehicle, having the right car insurance policy in place will ensure that you have the coverage that you deserve on the road. Contact Bisson Insurance Services in Yorba Linda, California for all of your auto insurance needs to keep you safe while behind the wheel.
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