Top 10 Tips for Hybrid Electric Vehicle Insurance YesEnsure

Top 10 Tips for Hybrid Electric Vehicle Insurance

If you are thinking about buying a new vehicle or you already own one, do your research before purchasing car insurance. It is important to know whether the car you are interested in has special coverage needs. Here are ten tips for hybrid electric vehicle (HEV) insurance that will help drivers understand how the green trend impacts their auto insurance quotes and coverage.

1.  HEVs have expensive batteries

One of the reasons why hybrid electric vehicles are pricey is that they contain high-tech lithium ion batteries. In a crash, these batteries can be damaged and even catch fire. Because of this risk, HEV insurance policies have higher premiums compared to conventional cars. Experts recommend having coverage limits at $100,000 for comprehensive and collision, and $300,000 for comprehensive, collision and other damages.

2.  Low mileage discounts are not common

Hybrid owners often save money by reducing their gas consumption. If they drive less than 10,000 miles a year, these drivers may qualify for car insurance low mileage discounts. However, this would not apply to HEV drivers. If you can prove that your car is used for commuting only, the insurer may consider giving you reduced premiums.

3.  The batteries pose a risk in certain situations

If the car’s battery gets damaged during collisions, there is a high chance of fire and explosion. Because of this risk, some insurance companies will not insure HEVs in certain situations. You may be asked to sign a waiver that states the insurer is not liable for damages and injuries caused by a battery fire. If you don’t, your policy can be voided.

4.  Avoid accidents at all costs

A comprehensive insurance package will cover all damages resulting from collisions or other events such as thefts and vandalism. If you damage your car and the insurer believes that the accident was caused by a mechanical or electrical failure, then you will not be covered under your HEV policy. Battery failure, low battery charge and overcharging are some of the factors that can cause such accidents.

5.  There is no HEV discount available from most companies

Due to the advanced features of hybrid car batteries, these are considered high-risk. Some insurance companies have started offering discounts for HEV owners who have good driving records. The discount is usually given to drivers who use their cars primarily for commuting, but other firms may not offer this type of promotion yet.

6.  Heat can damage the battery

Extreme heat or cold can damage a hybrid car’s battery. If you want to drive during winter, it is best to make sure that your vehicle has been properly charged and the cooling system is working well. Otherwise, you will not be covered by the insurer if your car breaks down because of faulty heating and cooling components.

7.   Recovering damages can be expensive

You may need to replace the entire battery pack in your vehicle if it is damaged. This costs $3,000 to $4,000 for a new hybrid car and $12,000 to $15,000 for an older model. Because of this possibility, you should consider increasing your comprehensive coverage limits instead of increasing your collision coverage.

8.  Your insurer may require an inspection

If you are filing a claim, the insurer may ask to inspect the battery’s charge state and vibration level before paying for damages. If you refuse to allow this, you will be covered under your comprehensive policy instead of the collision coverage. Note that underinsured motorist insurance would only provide you with limited coverage for damages to your battery.

9.  Deductibles may increase if the battery is not working well

If your car’s battery needs repairs, your deductible will also be increased accordingly. If it still does not function well after repairs, you need to renew or purchase a new one. You should factor in the cost of battery replacement every time you compute your car insurance premiums.

10.  Insurance may not cover damages resulting from loss of power

When hybrids run out of charge, they experience a sudden loss of power similar to what happens when there is complete engine failure. Your insurer will not pay for damages that result from this type of event, and you will need to replace your battery pack and related components.

Is there a discount for Hybrid Electric Vehicle Insurance?

No. Hybrid Electric Vehicle Insurance is considered high-risk insurance and there are no discounts available from most companies.

Can Hybrid Electric Vehicle Insurance be cancelled?

Hybrid Electric Vehicle Insurance cannot be cancelled in most cases, but the insurance company may require an inspection for damages to your battery. If you don’t allow this inspection, your insurance will only cover comprehensive damages.

Does Hybrid Electric Vehicle Insurance cover heat related damages?

Hybrid Electric Vehicle Insurance does not cover damages caused by extreme heat or cold. However, it is best to make sure that your vehicle has been properly charged and the cooling system is working well during winter conditions.

What does comprehensive coverage cover under Hybrid Electric Vehicle Insurance?

Comprehensive insurance covers damages resulting from collisions or other events such as thefts and vandalism. Under certain situations, Hybrid Electric Vehicle Insurance may also cover damages resulting from battery failure.

In The Final Analysis

So there you have it! All the top 10 tips that we think will help your hybrid vehicle insurance run smoothly and for a long time. We hope this post has been helpful, but if not or if you still need more information on what to do with your hybrid electric car insurance, please comment below and share any thoughts.

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