A recent Kanetix.ca study took a closer look at the hybrids that generated the most online auto insurance quotes in the first half of 2007, and the average quoted premiums for these increasingly popular vehicles.
First the hybrid autos
The top 10 hybrid vehicles quoted online through Kanetix.ca's auto insurance quote comparison service in the first half of 2007 were:
Honda Civic Hybrid (tie)
Toyota Camry Hybrid (tie)
Toyota Prius
Ford Escape Hybrid
Saturn Vue Green Line Hybrid
Toyota Highlander Hybrid
Honda Accord Hybrid
Honda Insight
Lexus RX 400h
Nissan Altima 2.5 S Hybrid
Now the hybrid auto insurance quotes
The top 10 list shows the wide selection available to Canadians looking to buy a hybrid. There is something for almost everyone and the options grow every year. Perhaps it is the greater selection of hybrids available that explains the 77 per cent increase in the number of hybrid auto insurance quotes in 2007, over the same 6 months in 2006 through Kanetix.ca.
Whatever the reason, clearly the popularity of hybrids is soaring. But, what did these drivers see when it came to the auto insurance quotes they received? The study looked at the quotes and found, for example, that compared to the first half of 2006, this year’s hybrid quote shoppers from Ontario would have seen quoted rates that were on average 24 per cent lower than the previous year!
How can that be? After all, Kanetix.ca previously reported that Ontario drivers in the first half of 2007 saw a 19 per cent drop in auto insurance rates—not 24 (see the Kanetix® News Bytes, “Kanetix Q1 2007 study shows auto insurance premiums dropped 21%" and the "Kanetix study shows auto insurance premiums dropped almost 17% in Q2 2007"). How is it that hybrid drivers are seeing an even more significant drop in the car insurance quotes? After all, Kanetix.ca has also widely reported that, “compared to their gas-powered alter-egos, the cost to insure a hybrid vehicle was neither consistently higher nor lower across the country.” So what’s up?
The answer seems to be in the wider range of people getting car insurance quotes for a hybrid. It seems all the television commercials mass-marketing the hybrid are working, and it’s not just the hip, younger, environmentally conscious drivers getting quotes. Compared to 2006, the group getting auto insurance quotes for a hybrid were:
Older—the average driver was born in 1970.
Licensed longer—the average driver was licensed 14.6 years.
Made up of fewer people under the age of 25.
That’s why shopping around is important!
The Kanetix.ca hybrid study shows how drivers who shop around for their auto insurance have a tremendous opportunity to save money. Whether it’s a 19 or 24% drop in the price of the average lowest quote provided, it just goes to show that consumers can save money on their auto insurance premiums – never mind just on the money saved at the pump.
It’s easy to get comparative quotes online in minutes to make sure that you’re getting the best possible rate. At www.kanetix.ca/auto-insurance, insurance companies compete helping you save money making Kanetix.ca a better way to shop for auto insurance.
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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