Cheap Vehicle Insurance quotes, Going Green for Cheaper Rates
Driving a more fuel-efficient vehicle can have a number of important benefits. Hybrid and electric-cars help their owners save fossil fuel, reduce their carbon footprint, and commute with the knowledge that they’re helping to preserve the Earth for future generations. Plus, it doesn’t hurt that driving an environmentally friendly auto can lead to significantly lower driving costs, even though they may initially appear more expensive to insure.
It’s no secret that gas prices have been steadily climbing since the invention of the vehicle and show no signs of slowing down. Many of the people who purchase alternative-fuel-source vehicles do so to avoid watching their life savings disappear at the gas pump. But when they initially see insurance quotes for these vehicles, they may worry that an equal amount may be siphoned off by coverage costs.
For example, a premium analysis of 20 quotes from 10 different California insurers shows that, when comparing the cost of insuring a gas-only Toyota Camry with a hybrid version of the same model, on average motorists who own hybrids pay just over 10 percent more for vehicle coverage. This price increase is generally accredited to higher repair costs, but before writing off fuel-efficient vehicles as a cost-effective means of transportation, drivers should take discounts into consideration.
Coverage providers across the nation are beginning to offer special savings and rate reductions for insuring hybrids and other alternative-fuel vehicles. In California, for example, as of March 2012, there are at least three companies that offer insurance discounts as incentives for driving greener cars. These price reductions range from 5 to 10 percent, which could effectively nullify the increased coverage costs of having a hybrid or electric vehicle.