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Hybrid Car Insurance Discount

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Car insurance discounts are all the rage these days.

Heck, State Farm claims you can save up to 40% via discounts, but that doesn’t mean a whole lot if the starting price on the insurance premium is much higher than competitors.

At the same time, you should always be sure to inquire about any and all possible discounts (such as good student discount, good driver discount, etc) to ensure you receive the lowest possible price.

For example, if you drive a Hybrid or similar low-emission vehicle, you may be able to get a discount, depending on who you obtain your car insurance from.

Why are hybrids cheaper to insure?

Well, they aren’t necessarily cheaper to insure than standard vehicles, but car insurance companies are able to offer a discount for hybrid vehicles because research has shown that their drivers fall into a lower-risk category (how car insurance rates are determined).

Farmers Insurance offers a 10% discount on car insurance to drivers of “Alternative Fuel Vehicles,” available for both electric-and-gasoline hybrid vehicles and dedicated-fuel vehicles that use qualifying alternative fuel.

That’s on top of many other possible discounts, like good driver, safe driver, multi-car, and the presence of anti-theft and/or antilock brakes.

Travelers also offers a 10% discount to the owners of hybrid cars and boats, and Geico offers a 5% discount on certain coverages for insured hybrid vehicles.

Keep in mind that not all car insurance companies offer a hybrid discount, but it doesn’t hurt to ask – the savings could be significant, especially if you’ve got a few hybrids in the driveway.

Tip: If you’re working with an independent insurance agent, be sure to remind them that you may qualify for a hybrid discount when they compare insurance quotes from multiple companies.

(photo: joi)

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