Are electric or hybrid vehicles cheaper to insure?

It depends. Some electric vehicles, like Teslas, are very expensive to insure. However, hybrid versions of some popular economy vehicles like Toyotas and Subarus will not be as expensive to insure. Some insurance companies even have discounts for these types of vehicles. It really depends on the value of your electric or hybrid vehicle and how much it would cost an insurance company to repair or replace in the event of a claim. Remember, insurance rates will also vary based on factors like your age, driving record, and location.

Posted by Alyssa DiCrasto

Alyssa uses her many years of experience writing about complex industries to research and create clear content that makes insurance easy to understand. She has been with Rate Retriever since its beginning, establishing our strict editorial policy and directing our comparison experience.

Leave a Reply

Your email address will not be published. Required fields are marked *