For keeping mileage down hybrid auto insurance. Electronic monitoring of mileage may be required. Aubrey Cohen is a staff writer at NerdWallet, a personal finance website car insurance hsbc singapore. Email:.
Company Our Story The Allstate Blog Careers Customer Support Contact Us © 2015 Allstate Insurance Company All Rights Reserved hybrid cars insurance costs. Whether motivated by the latest cool new technology or a green conscience--most likely a combination of the two--these early hybrid owners drove conservatively and racked up relatively low rates of accidents and insurance claims why is aviva car insurance so cheap. As a result, their premiums were low. I agree to receive emails from the site cheap snow sports insurance. I can withdraw my consent at any time by unsubscribing.
It begins with a link called "Get a Quote?". Escape will cancel and close the window. If you’re a smart shopper, you’ll always be looking out for the best offers cheap insurance washington state. You’ll read up reviews online, stockpile newspaper clippings…. Key benefit of the Travelers Hybrid/Electric Vehicle Discount car insurance 1st time insurers.
Hybrids deliver their best fuel economy at low speeds and in stop-and-go conditions, when the electric-drive system does a lot of the work hybrid cars insurance rates. The hybrid advantage largely goes away for sustained highway speeds. Top 4 Reasons Car Insurance for Hybrids Costs More As hybrids become more popular and affordable, drivers wonder why the cost of insuring them remains higher than average states with the lowest car insurance rates. And for a green insurance company like ours, the relatively high cost of insuring a hybrid presents a bit of a pickle.
Since the first actuarial tables appeared in the 1600s, setting insurance rates has been a complicated and math-intensive business. So we talked with Eric Madia, Esurance’s director of product and actuarial management, to break this hybrid-car insurance pickle down into manageable hamburger chips, and to find out why car insurance for hybrids costs more. What car insurance for hybrids costs more? Hybrids generally cost more than their gasoline equivalents. For example, the 2011 Honda Civic has a starting price of $15,805, while the 2011 Civic Hybrid starts at $23,950. Eric explains, “The value of the vehicle is typically related to the premium charged.” The more expensive the car, the pricier the car insurance policy.
The parts Hybrid cars leverage cutting-edge technology to reduce fuel consumption and protect the environment. For example, according to John O’Dell, Edmunds ’ senior editor and green car advisor, damaged batteries for a Prius or Civic hybrid can range from $2,000–$4,000, and that jumps to $8,000–$15,000 for new EVs like the Volt or LEAF. Parts that cost more to replace or repair lead to higher claims costs. 3. The service Hybrids have engines as well as state-of-the-art electronic components, which means only specially trained mechanics can work on them.
Even minor repairs require specialized service, and as Eric notes, “These repairs are more expensive.” 4. The drivers This may be surprising, because it’s easy to assume that hybrid owners are the conscientious, safe drivers every car insurance company wants — and in general, they are. The hybrid’s incredible fuel efficiency, however, makes it especially attractive to drivers who spend a lot of time behind the wheel. According to a 2009 study , hybrids log roughly 25 percent more non-commuting miles per year than their counterparts.