Quote:
Originally Posted by ndabunka
Ah, Do'ah! An "old clunker's insurance is ALWAYS going to be less than a brand spanking new car. I don't care if it's a hybrid or a Volkswagon. The FACT is that insurance rates are PRIMARILY based on a car's VALUE, not whether it is a hybrid or not. Your 1972 Pinto was worth $0.50 and therefore your insurance was dirt cheap. Your new Honda is worth $20,000+ and therefore your insurance rate reflects this HUGE dichotomy. It doesn't have ANYTHING to do with the fact it "happens" to be a Hybrid.
My insurance agency gives us about a 10% discount on our 2006 HiHy.
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I didn't say that I expected insurance on the Hybrid to be cheaper than what it was on the old Pontiac. If you read my second post, you will see where I say that it was the Insurance Agents themselves that told me that insurance on a Hybrid is more expensive than say a normal Honda Civic. I expected the insurance to be more on the new car but I didn't expect 1) the rates from different insurance agencies to vary as much as they do (from $1,100 on the high side to $600 on the low side) or 2) to be told that because it's a Hybrid the insurance rates are higher.
We ended up going with Geico and got a good price.