Hybrid vehicles have caused a stir, and speculation abounds about how they work, how much they cost to buy, maintain and insure. Some of it is fact, but some of it is simply rumour.
All hybrids have to be plugged in
Rumour. The majority of hybrids available today are gas-electric and do not need to be plugged in. Basically, the way it works is the battery is recharged while you drive, from energy normally lost over the course of operating the car.
Hybrid batteries need to be replaced frequently
Fiction. Hybrid batteries are designed to work for the lifetime of the vehicle which is why many manufacturers offer impressive warranties. Toyota for example, offers 160,000 km warranty coverage on their Prius and Highlander hybrid-related components.
The only hybrids available are the Honda Civic Hybrid and the Toyota Prius
False. There are a number of hybrids to choose from, including cars, SUVs and pick-ups. Whatever your preference, chances are you can find a hybrid version. The most popular hybrids, as quoted online for auto insurance through Kanetix.ca, show how diverse the selection is:
Toyota Prius
Toyota Camry Hybrid
Honda Civic Hybrid
Ford Escape Hybrid
Lexus RX 400h
Toyota Highlander Hybrid
Honda Insight Hybrid
Ford Fusion Hybrid
Honda Accord Hybrid
Saturn Vue Green Line Hybrid
Chevrolet Malibu Hybrid
Nissan Altima 2.5 S Hybrid
Saturn Aura Green Line Hybrid
Chevrolet Tahoe Hybrid
Lexus RX 450h
Lexus GS 450h
Cadillac Escalade Hybrid
Lexus HS 250h
GMC Sierra 1500 Hybrid
GMC Yukon Hybrid
Chevrolet Silverado 1500 Hybrid
Lexus LS 600h
Chrysler Aspen Hybrid
Mercury Mariner Hybrid
Hybrids cost more to buy
True. While fuel efficiency is a bonus at the pumps, it typically comes at the cost of a slightly more expensive vehicle, usually several thousand dollars. The good news here though is you may be eligible to receive a provincial tax rebate or credit (depending on the province) varying from $1,000 to $3,000 if you live in British Columbia, Manitoba, Ontario, Quebec or Prince Edward Island.
Plus, in March 2007 the federal government introduced a ‘Vehicle Efficiency Incentive’ that will offer Canadians a rebate of up to $2,000 for the purchase of an eligible new fuel-efficient vehicle. (Update: The ecoAUTO rebate program is no longer available as of December 31st, 2008.)
Hybrids cost more to insure
Not necessarily. After comparing online quotes at Kanetix.ca for the Toyota Camry Hybrid, Ford Escape Hybrid, and Honda Civic Hybrid, it appears there is no one particular trend when it comes to hybrid auto insurance rates. While there were times, when compared to their gas-powered alter-egos, hybrid car insurance rates were lower, there were also times when they were higher and even sometimes the exact same.
The fact is the Kanetix.ca review of hybrid car insurance quotes even saw instances where a hybrid cost more to insure then their non-hybrid version with one company while with another company, it cost less.
What’s this mean if you’re in the market to buy a hybrid? Shop around for your hybrid car insurance coverage. Rates are not the same across insurance companies, and if you get a new hybrid your current insurer might not be the most affordable option for coverage. So if you're thinking of buying a hybrid, compare auto insurance quotes because it's the only sure way to save on your car insurance rates.
Looking for more on hybrid car trends, fuel efficiency, and auto insurance rates?
Over the years, Kanetix® has compiled a series of articles and news bytes that you might find of interest:
Top 10 most popular hybrids quoted online, in Winter/Spring 2006, for auto insurance through Kanetix.
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