Like HowStuffWorks on Facebook!

How does buying a hybrid car affect your insurance rate?

        Money | Auto Insurance

Author's Note

I have a foolproof plan for saving money on gas and car insurance: Don't drive. I pay nothing for insurance because I don't have a car (I live in New York City). Given that this note comes along with an article on hybrids, I should also note that my plan is good for the planet. Of course, there are many people for whom a life of travel by foot, bicycle and public transportation simply will not suffice. Those individuals should consider my second piece of advice: Don't expect owning a hybrid will lessen your insurance rate. Insurance companies will dangle all kinds of fancy "discounts" for having a hybrid vehicle in front of you but in the end, it is unlikely to change the amount you pay.

Related Articles

Sources

  • AutoOwnersInsurance.org. "Auto Insurance Rates." (March 10, 2012). http://www.autoownersinsurance.org/rates
  • Edgerton, Jerry. "Auto Insurance: Which Cars Cost most and Least?" Jan. 18, 2011 (March 10, 2012) http://www.cbsnews.com/8301-505145_162-40542158/auto-insurance-which-cars-cost-most-and-least
  • Helton, Cecil. "Can you get an insurance discount for driving a hybrid?" Carinsurance.org. March 30, 2011. (March 10, 2012) http://www.carinsurance.org/2011/03/can-you-get-an-insurance-discount-for-driving-a-hybrid_329
  • National Highway Traffic Safety Administration. "2011 Relative Collision Insurance Cost Information Booklet." Feb. 7, 2011. http://www.nhtsa.gov/staticfiles/administration/program_development/2011_Comparison_Insurance_Costs.pdf
  • National Highway Traffic Safety Administration. "Incidence of Pedestrian and Bicyclist Crashes by Hybrid Electric Passenger Vehicles." Sept. 2009. http://www-nrd.nhtsa.dot.gov/Pubs/811204.pdf
  • Palmer, Clark. "Cheap car insurance, the smart way." Bankrate.com. (March 10, 2012). http://money.msn.com/auto-insurance/cheap-car-insurance-the-smart-way-bankrate.aspx
  • Pierce, Emmet. "Car Insurance Comparison. The most and least expensive 2012 vehicles to insure." Insure.com (March 12, 2012). http://www.insure.com/car-insurance/car-insurance-comparison.html
  • The IMT Group. "Claim Frequency, Severity for Hybrid Vehicles." (March 10, 2012) http://www.imtins.com/learning_center/lc_090110.php
  • Travelers Indemnity Company. "Credit History and Insurance." (March 10, 2012). https://www.travelers.com/personal-insurance/auto-insurance/credit-history.aspx#1
  • Travelers Indemnity Company. "Hybrid Car Insurance Discount." (March 10, 2012). https://www.travelers.com/personal-insurance/auto-insurance/hybrid-car-insurance-coverage.aspx

More to Explore