September 15, 2009

Hybrid Cars And Auto Insurance Rates

Hybrid car owners are getting more perks than they ever expected. Most individuals interested in a hybrid make this decision based on one or two major reasons, economy and/or social consciousness. Both are very worthy reasons to become a hybrid owner. But another reason Americans are migrating towards hybrid cars may be due to the auto insurance rates being offered by insurance companies.

According to a recent article, insurance rates for hybrid owners are set from a demographical point of view. Insurance companies view average hybrid owners as men and women between the ages of 40 to 60 years old who are typically financially stable and married. These demographics indicate to auto insurance companies that a person in this group is probably a mature, responsible driver, therefore significantly reducing the chance for an accident. Another reason auto insurance rates have dropped for hybrid car owners is that these vehicles require far less maintenance than standard automobiles. This means they pose less are less likely to break down in traffic, which tends to cause an accidents and subsequently insurance claims. Hybrid vehicles are generally quick and nimble, also making them less likely to become involved in an automobile accident. With the increase of these sorts of vehicles on the road, auto insurance companies are offering up to a 10 percent discount to these drivers based on the above factors.

Most of the major automobile makers such as Honda, Toyota, Ford, General Motors, Mazda, Lexus, Nissan-Renault and Volkswagen have produced hybrid vehicles. Due to their appeal to drivers, hybrids are not limited to the "small car" category any longer. Today, you can find options in every vehicle category such as trucks, vans and SUVs. In addition to providing ample selection when it comes to buying a hybrid vehicle, manufacturers are also offering great car warranties, which typically include the car's battery pack and electric motor, hoping to gain the new owner's trust in new technology.

Hybrid owners are finding perks even beyond auto insurance rates and saving the planet. Many local city governments offer free or discounted parking to hybrid drivers as well as some interesting tax incentives. HOV lanes are opening up to solo hybrid drivers in many states, and a few major corporations have even offered $5000 rebates to employees who purchase hybrid vehicles.

Although hybrids have been around for awhile, the new surge in interest from drivers, auto makers and auto insurance companies will have a profound effect on the future of our ecological system, vehicle accidents, auto insurance rates, dependence on foreign oil and air pollution. Maybe it's time to make the switch and take advantage of all the benefits of being a hybrid car owner