Rewards Of Owning An Eco-Friendly Vehicle
More and more people are finding the rewards of owning a hybrid or eco-friendly vehicle are growing tremendously, and car insurance has been added to the list. These vehicles are chic, money saving, pollution reducing machines that you can feel good about owning. Also, the savings at the gas pump are almost enough to have any owner jumping for joy. But the savings don’t just stop at the gas pump. An eco-friendly vehicle can save you money on car insurance quotes and costs, too.
What Discounts For Car Insurance Are Available?
Discounts vary by company. Many insurance companies offer discounts for eco-friendly vehicles which are hybrid, or even just get a certain number of miles to the gallon. Many experts believe this is just the foreshadowing of a nation-wide trend, with car insurance providers scrambling over each other to get the business of savvy owners. Studies conducted by several companies have shown that owners of eco-friendly vehicles tend to be older, more responsible drivers who are generally married and have a slightly higher income than the median. Offering customers like this multiple discounts on their premiums is simply good business for the customer, and for the company.
How Much Can Be Saved On Car Insurance Each Year?
Average discounts for an eco-friendly vehicle are 10-15% off the overall premium. So if the six month policy would normally cost $1200, the savings could be anywhere from $120-$180. That’s up to $360 per year in savings! These numbers, of course, are before any other deductions which might apply to your car insurance, such as a good driver discount or lower rate for married couples.
What Qualifies As An Eco-Friendly Vehicle?
Each car insurance company has slightly different standards to qualify for an eco-friendly discount. Some are willing to offer discounts, though perhaps not as high, to vehicles which get more than 30 miles per gallon. Others will grant discounts, normally higher ones, to hybrid vehicles or those that have been deemed eco-friendly by an outside source, or vehicles verified as Super Low Emissons Vehicles (SULEV). The best way to find out if a vehicle qualifies with a specific car insurance company is to contact that company directly.
The Future Of Eco-Friendly Savings
While insurance, gas, and tax saving benefits are very exciting reasons to own an eco-friendly vehicle, they are just the beginning. Many believe that the future of eco-friendly vehicle savings is just being founded, and soon the vehicles may simply pay for themselves. Car insurance deductions and other money saving perks, as well as the lower impact on the Earth, are enough to give any eco-friendly vehicle owner a reason to sleep well at night.