Hybrid Auto Insurance in Canada

In today’s green conscious society, consumers are choosing hybrid vehicles with increasing frequency. Even those less environmentally-conscious motorists seek the economy and efficiency of these alternative-energy machines.

Hybrid Electric Vehicles

These cars combine the conventional internal combustion engine with electrically-powered batteries or motors to provide and maintain mobility. Some electric hybrids are rechargeable via an external source of current.
Also known as HEVs, hybrid electric vehicles are the most common type employed for ordinary personal use.

Hybrid Hydraulic Vehicles

Hydraulic models feature a hydraulic mechanism in conjunction with internal combustion to initiate and maintain movement. Large buses and trucks that travel in a frequent stop-start pattern are commonly of this genre.

Dual-Mode Hybrid

As the name implies, these units bifurcate two separate power sources of the same type into a singular source of power.

Popular Hybrid Cars in Canada

Canadian Automobile Association (CAA) statistics indicate that online insurance quotes are most commonly sought for the following five hybrid models:

-Honda Civic Hybrid – 2 DR
-Ford Escape Hybrid – 4 DR
-Honda Insight – 2 DR
-Toyota Camry Hybrid – 4 DR
-Toyota Prius – 5 DR

It is highly beneficial to get an insurance quote for your specific model, before you’re ready to buy. An initial widespread mutual concern for consumers and insurers alike were relatively high repair costs should collision-related body damage occur.

Automobiles are constructed of varying qualities of materials and physical components. Fancy sports cars and high-end luxury vehicles are more expensive to repair than basic subcompact economy models. Likewise, hybrid vehicles’ high-tech parts and mechanisms were more costly to replace or repair than traditional vehicles. As hybrids inevitably become more popular, however, these costs will decrease accordingly.

A significant factor in any auto insurance premium is the overall incidence of accident involvement presented by specific vehicle models. Preliminary research in the State of California indicates that hybrid-driving motorists do not have as many accidents or collision involvement as do other drivers.

Canada’s hybrid vehicle market is relatively small as of this writing. As their popularity increases among Canadian car owners, insurers in Canada will definitely develop more detailed statistical analyses. Over time, general premium decreases are likely for hybrid vehicles.

Indeed, the day may soon dawn whereby hybrid drivers are offered discounted premiums as purchase incentives. Such a phenomenon is already occurring in the United States, where recent legislation has allowed an $8,000 USD tax credit for those who buy hybrid vehicles. Perhaps Canada will follow suit with similar legislation in the future. Currently, Toyota is one of the bigger producers of hybrid vehicles in Canada but hopefully more car companies will start producing eco-friendly cars for this market.