Hybrid Vehicles

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Get the hybrid vehicle insurance you need, at great rates, with claims service you can count on. It’s easier than you may think.

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There is no debate that driving a hybrid vehicle is good for the environment. Hybrid vehicles also offer some other bonuses such as drop in monthly fuel costs, making them a smart investment. One benefit that many people do not realize, is that owning a hybrid vehicle can possibly lower your insurance rate.

How Do Hybrid Vehicles Work?

A hybrid vehicle is a combination of an electric motor and a gas powered engine. The cars can run on the electric engine for a certain amount of time or at off-highway speeds. The gas engine will take over when either the charge has run out or is required for certain roads. Currently, hybrid vehicles are most popular with adults that live in cities with close commutes to work and only drive a limited amount of kilometers per week, as they can fully charge their vehicle each evening.

Hybrid Car Insurance Discount

More and more insurance companies are offering discounts to individuals that are environmentally conscious and driving hybrid or alternative fuel vehicles. There are some interesting facts behind this decision. Hybrid drivers tend to be:

  • More educated
  • Have stable careers
  • Above 40 years old
  • Less likely to have accidents (they drive less)

Hybrid drivers with the above traits are viewed favorably by insurance companies and can fall into their preferred category, which has better premiums.

Is It Cheaper to Insure an Electric Car?

Although many insurance companies give discounts for eco-friendly and alternative fuel vehicles, it is important not to assume that you will be paying less for your insurance than when you had a regular car. Because hybrid cars are more expensive to purchase and quite costly to repair,. There are also many other factors that come into play when insurance companies determine what your rate is, which can include:

  • Age
  • Number of at fault accidents
  • Number of traffic tickets
  • Location
  • Gender
  • Marital status
  • Type of vehicle
  • Deductible amount
  • Driving history
  • How many years you have held a drivers license

Do I Need Additional Insurance for My Hybrid Car?

There are no additional insurance requirements for covering your hybrid vehicle. The insurance that you need is the same type of insurance that you would purchase for a regular car, although the rate may differ. Because of the cost of hybrid vehicles, you will probably want to purchase collision coverage as well as comprehensive insurance so that you are protected and covered for repairs.

At Bow Valley Insurance, we will do the shopping for you. As insurance specialists since 1979, we know which companies can provide you the coverage you need at the lowest possible rate. Choosing Bow Valley means that you get the best coverage available for the most competitive price – we will even show you the rate comparisons. Plus, we will tell you about any other discounts that may reduce your cost, such as driver training, multi-vehicle, anti-theft device or being over the age of 45.

Please contact us for a free, no-obligation quote with one of our knowledgeable, experienced insurance specialists.