Are Eco-Friendly Cars Worth Buying?
The automobile industry is coming close to a historic crossroads, at least as far as fuel is concerned. While oil prices have dropped recently and will probably stay low for the next few years, the fact remains that oil is a finite resource and that sooner or later we will have to find some other way of satisfying our transport needs. Alternative-fueled cars already exist but they are still very expensive. It is possible to get them insured by using auto insurance quotes online. But is it really worth buying an eco-friendly car?
There are some big auto insurance companies which offer rate discounts for hybrid vehicles. For instance, some with plenty of generosity will give a 10 percent discount for hybrid or electric cars. Others will reduce rates by 5 percent. The reasons for these discounts are statistics. Hybrid vehicle owners will drive fewer miles on average than a fossil fuel car driver, therefore auto insurance companies consider them to be of lower risk. Considering that annual auto insurance rates vary between less than $1,000 to more than $3,500, these hybrid and/or electric car discounts could help substantially.
However, certain aspects of hybrid and electric vehicles might actually lead to increased insurance rates. Hybrid and electric cars cost more to repair than normal cars, and this is mostly because these cars represent a very small fraction of the market and therefore replacement parts are hard to find and expensive. Obviously, these cars are also more costly to replace in case of theft or total loss. That is why collision claims which involve a hybrid vehicle are generally more expensive by $182 than those involving fossil fueled vehicles. Hybrids are also more likely to collide with pedestrians and bicyclists because their engines are quiet and the car’s approach may not be evident until it gets too close.
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