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
- Toyota Highlander Hybrid
- Honda Insight Hybrid
- Ford Fusion Hybrid
- Lexus RX 400h
- Lexus HS 250h
- Honda Accord Hybrid
- Lexus RX 450h
- Nissan Altima 2.5 S Hybrid
- Saturn Vue Green Line Hybrid
- Cadillac Escalade Hybrid
- Chevrolet Malibu Hybrid
- Saturn Aura Green Line Hybrid
- Chevrolet Silverado 1500 Hybrid
- Chevrolet Tahoe Hybrid
- Lexus GS 450h
- GMC Sierra 1500 Hybrid
- BMW X6 Hybrid
- GMC Yukon Hybrid
- Lexus LS 600h
- Lincoln MKZ Hybrid
- Mercury Mariner Hybrid
- Chrysler Aspen Hybrid
- Mercedes-Benz S400 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 Quebec or Prince Edward Island.
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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 that you might find of interest:
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