By June 28, 2007 1 Comments Read More →

Hybrid vehicles for cheaper car insurance premiums and discounts

Reader question:

Does it benefit me with my car insurance policy to get a hybrid vehicle?

Luther

Yes, it does.

There are actually a lot of benefits that come with hybrid cars, which some people might be put off of because of the high price. One of the main ones, naturally, is that they are an environmentally sound way of getting around and help reduce unhealthy emissions. Not to mention, they also save the world’s natural resources and your own pocketbook by requiring less gasoline. They run farther, then, with less money and keep a cleaner engine and a more pleasant sound and feel. They are the final separation of transportation from the fire-breathing beasts of yore.

But they can save you money on your car insurance as well. It may seem like a big expenditure at first to put so much money into a hybrid car, but if you think about it, it is more of an investment. Over the years, you will save lots of money on gas and in car insurance. Why is this? First of all, hybrid cars tend to be safer and as such get points from the car insurance companies as safe vehicles. Second of all, many car insurance companies offer a discount for people who drive hybrid cars. Call up your own insurance company to see if they offer this discount, and you could find the price of your car more than made up for within a couple of years.

Not to mention, owners of hybrid cars can get a tax credit for them. This is because of the energy act recently passed and gives some pretty good tax credits for those who bought hybrid vehicles in 2006. However, it does not apply to just anybody who bought a hybrid, but instead only the first wave that took advantage of the vehicles, cutting off at customer number 60,000.

Cheers,

Fashun Guadarrama.

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  • Jason

    Someone told me that there are car insurance companies out there that offer discounts for hybrid vehicle. :)