Are you considering buying a hybrid vehicle? Perhaps you’re tired of having to stop by the gas station every few weeks to fill up. Or perhaps you’re frustrated with the increases in gas prices at the fuel pump. Or maybe you think that by buying a hybrid now, you’ll save more money in the long run because gas prices are high. Whatever your reasoning, you’re set on buying a hybrid vehicle. But, is it really worth it?

Insurance companies know that people who are buying hybrids are saving more on fuel and tend to cover more distance than drivers of gas cars. So, naturally, those fuel savings will be eaten up by higher insurance premiums.

Typically, an insurance company is going to charge more to insure a hybrid vs. a gas-powered car because it costs more to manufacture a hybrid. The average damage claim for a hybrid is significantly higher than that of a gas-powered car. Therefore, drivers who use hybrid vehicles to get around are deemed a higher risk. Driving behavior is another factor that insurance companies factor in. For example, drivers who use hybrids are more likely to drive longer distances during peak hours of traffic. The main motivation they have is to save fuel and money during rush hour. With heavier traffic comes to more likely possibility of a collision with another vehicle.

There are other reasons why it will cost you more to insure your hybrid instead of a gas car.

  • More mileage = more $
  • Expensive repair costs due to more costly car parts and the need for a specialist to administer repairs. Even aftermarket parts are expensive due to low demand.
  • Fewer hybrids on the road translates to needing more specialized hands to perform repairs. Low supply and high demand is going to mean higher costs.
  • Materials used for construction of small hybrid city cars are fragile than that of SUVs.
  • Because hybrids are less noisy, drivers are a higher risk of accidents involving pedestrians or cyclists.

You may ask, “Are hybrid cars more safe to drive or are they more dangerous?” Hybrid cars tend to be safer to drive. But, the costs to repair them are so much higher. If you are driving a hybrid car, you are paying more for the safety it provides you. Hybrid safety records indicate they perform better than gas cars with regard to incidents involving higher speeds.

At the end of the day, you’re going to be paying more if you drive a hybrid vehicle instead of a gas car. Everyone’s circumstances are different, so think about what is best for you before making a decision on what kind of car to buy.