Mine went way down - $50/mo when I switched from Am Fam to Travelers with trading an '04 HCH for an '06 HCH. No tickets, nothing bad on the record. In my 30s, single, living in Phx Metro area.

 

Gee, some of the answers on this thread are simply amazing and even a little ironic.

I've been keeping my eye on the insurance rates for hybrid vehicles for a few years. So when I was ready to purchase by 06 Civic hybrid, I check the insurance rates and I discovered that they were the lowest they ever been. In fact, the 2006 Honda Civic EX is more expensive to insure than the 06 Civic hybrid (difference is almost $200). It is about $300 cheaper than it was for the previous model.

I enquired about this issue with several insurance brokers and even called the insurance headquarters and they told me that they tapped onto existing statistics derived from the US insurance market (over the last 5 years). These statistics indicate that Hybrids:

1- Are not that much more expensive to repair compared to most vehicles.
2- Are less likely to be targets of theft.
3- Are more likely to be driven carefully, and often at or below the speed limits.
4- Are more likely to be owned by seasoned, responsible and experienced drivers.

All of the above sounds good... but please remember, I am in Canada and the advantages of the larger US market has clearly contributed to lower rates here.

What surprises me a little is the "why" rates are going up for the drivers of the very market that provided such great statistics?


Regards;

MS

 

Check in your state/province on this.

In Texas, State Farm Insurance will discount your insurance 10-12% for taking a defensive drivers course. The only drawback is, you don't want to get a traffic ticket within a year after that, because you will have eliminated the class as a way to void the ticket.

 

My insurance rates dropped after I purchased my 06 HCH in January. I previously had an 02 Infiniti I35. In fact, my rates for my car are cheaper than the rate for my wife's 04 CR-V! We have our insurance thru Traveler's which gives you a 10% discount if you have a hybrid car.

 

I just visited my local State Farm person. The only 'defensive driving' bonuses in the state of Washington are for people under 25 and people over 50.

 

Dump your collision and go with liability only, along with comprehensive in case the car is stolen. Then just don't crash into anyone. By self-insuring your collision (basically if you crash it, you pay for your own repairs to the car) you can save a fair bit on insurance. The down side, of course, is you might have to pay for repairs. The upside is, you'll most likely come out ahead in the long run as the insurance companies would not be in business if they did not make more money in fees than they ever paid out to cover repairs. Keep the liability, though, that's definitely needed and also required by law in many places.

Your liability insurance rates are linked to the size of the car and the damage it can do. So, once you dump your collision your rates should be fairly low, since the HCH is a small car. If they're not then you need to shop around for a better insurance company. I know you claimed your rates were the lowest you ever had, but maybe you've only had high rate companies???

 

I hate insurance companies. no matter how good of a driver I am , they still charge you so much. I am paying so high for my honda 2006 hybrid, and not sure how to lower the insurance. I will have to look around. How do you guys do with your insurance rates? tips on lowering it?

thanks

Jose M

 

Jose,

There's no reason to hate your car insurance company. Keep in mind you pay that insurance company to take on risk that you're either unwilling or unable to.

The insurance company bases the cost of taking on that risk by considering (amongst other things), your car, your age, your location, your driving history, your claim history, the insurance coverage limits you want, the deductible you want, etc. They're in the business to make money and stay in business, so they need to charge accordingly.

All other things being equal, the more risk you're able to accept upon yourself, the lower your insurance premium will be.

Some suggestions to lower your insurance premium:

• Definitely call around and get several "apples-to-apples" quotes from a few insurance companies. Get too loyal to a single insurance company, and your likely to pay too much in the long run.
• Make sure the insurance company has correct information about your personal driving situation (type of driving, number of miles driven annually, etc.). Cars driven less than a few thousand miles per year usually qualify for a low annual mileage discount.
• If your car has daytime running lights, a security and/or immobilizer system, an ignition kill switch, the VIN etched on the windows, or you use other manual security measures (like The Club), make sure the insurance company knows about all of them. Most of these items qualify for premium discounts.
• Consider raising your deductible to the highest level you can afford (or the lien holder of your car will allow). If you have a $1000 deductible, it means you're willing to "self insure" your car for the first $1000 of any incident or accident. On the other hand, if you have a habit of keeping a low deductible... expecting the insurance company to buy you a new windshield every year and fix all your door dings... you're definitely going to pay for it through higher premiums!
• If you have it, consider dropping "Uninsured/Underinsured Motorist" coverage from your policy. If someone else hits your car without adequate insurance coverage and they're at fault, your insurance policy will still cover the damage out of your coverage (subject to your deductible of course). The downside to this is that your premium could go up as a result of such a claim even though you weren't at fault. Again, it's all about taking on risk.
• If you have good medical care through your work (or elsewhere) which doesn't specifically exclude health care you need caused by an automobile accident, then you probably don't need "Personal Injury Protection" coverage through your auto insurance company.
• If you have it, drop any coverage you have for "Towing and Labor," or "Rental Car Reimbursement." Compare all the premiums you'd pay over the years for those coverages, against the real chance you'd actually use them. And if you did need a tow or rental car, just take on the risk and pay for it yourself!
• If you never carry passengers in your vehicle, or if anyone who does ride with you already has adequate health care coverage (one which doesn't exclude health care needed from an automobile accident) you also may not need "Medical Payment to Others" coverage. And if they had severe enough medical injuries, they could always sue you to get paid by your insurance comapny under your liability insurance coverage.
• I know this probably isn't your case, but if your car isn't worth much, don't bother getting comprehensive or collision coverage for it at all! Ask yourself if it's worth paying $750 per year for a car the insurance company would pay you only $2000 for if it were totaled?

Of course you *MUST* always carry adequate liability insurance coverage to pay for any damage and injury you cause to others. Don't even think about not carrying this... and don't skimp on the coverage levels. One lawsuit against you and you'll be glad you had the coverage.

IMPORTANT: I'm not an insurance agent nor a lawyer. Always make sure you understand what's in your insurance policy (actually read it) and whether the coverage is adequate for your situation.

Best regards,

John L.

 

I like how insurance companies are a legally enforced 'protection' payment...really, I do.
NOT.

 

Interesting, granted I am going from a 06 Acura TL to a 07 Camry hybrid, but my insurance will got down $80.