Hybrid Car Guide

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

The car industry has various vehicle types to choose from: traditional gas-powered ones, fully electric cars, and hybrid vehicles. 

Hybrid vehicles are eco-friendly and cost slightly less to maintain than regular ones. They are becoming more and more common as an alternative to traditional vehicles. But what is a hybrid vehicle, and what are car insurance rates for hybrid vehicles?

Let’s define what a hybrid vehicle is for those who don’t own one and are thinking about purchasing one. We’ll also go over the advantages and disadvantages of hybrid cars and look at all the ways to find the best insurance rates as well.

What is a hybrid car?

The beauty of hybrid vehicles is that they give you the best of both worlds when it comes to their engines. They are partially electric-powered and gas-powered. Both are used together to decrease the car’s emission of pollutants, making it more environmentally friendly than traditional vehicles and trucks.

Hybrids come in all shapes and sizes. You can go as small as a Toyota Prius to as large as a Ford F-150. It all depends on what suits your needs. They are even hybrid sports cars. From Ferrari to Tesla, there are so many options to choose from.

Advantages of a Hybrid Car

If you are still on the fence about whether to buy a hybrid, then let’s look at five advantages of having a hybrid car.

1. Hybrids emit less carbon dioxide than traditional cars.
2. They have lower annual bills.
3. Because hybrids are fuel-efficient and require less gas, there is less fossil fuel being used. This helps the planet and lowers gas prices.
4. This car has a rechargeable battery. It recharges whenever you use your brakes.
5. Hybrids are now integrating cloud computing, which allows you to keep track of your energy consumption. 

Disadvantages of a Hybrid Car

Nothing is perfect, though, and the hybrid is no exception to this rule. Below are five disadvantages to having a hybrid car:

1. Hybrids don’t have as much power in their engines as traditional vehicles.
2. They are prone to be a bit pricey because there is such a demand for them.
3. Hybrids don’t perform well in cold weather. The battery takes some time to heat up.
4. Their fuel efficiency is not as good on highways and interstates. They operate best in city traffic. 
5. Battery replacement can be difficult and expensive.

Don’t let these disadvantages deter you from getting a hybrid if your heart is set on one. As stated above, nothing is perfect. If you want a hybrid and can afford one, then, by all means, buy it. Just be aware of these disadvantages.

How to Find the Best Car Insurance Rates for a Hybrid

Finding the best rates for your hybrid or potential hybrid should be a simple process. Here are three ways to find the best insurance rates for your vehicle.

#1 – Search for Cheaper Rates Through Your Current Insurance Provider

Whether you have Geico or State Farm, it’s a good idea to check with your provider and see what kind of deals you can get for purchasing a hybrid car. There might even be programs by your insurance tailored explicitly for hybrid vehicles.

For example, Travelers has a hybrid car insurance program that discounts their customers just for owning a hybrid. 

Most companies have 10% discounts for those who own a hybrid vehicle. Again, check with your provider. 

#2 – Compare Car Insurance Rates Online

Another way to look for the best rates would be to search online, especially if you’re thinking about switching to a different insurance company. There are many car insurance comparison tools that you can use to determine which company will give you a better rate. Use Google or any other search engine and search for “car insurance comparison tools.” 

As you do your research, create an Excel spreadsheet of the companies you think have the best rates. Use the comparison tool to help you determine which company would best suit your needs.

#3 – Ask Someone You Trust

This doesn’t apply to everyone, but if you know someone who has a hybrid car, it will help if you could get their advice on which insurance company they use. Reading something online isn’t always received the same way as hearing information from someone you trust. 

Having a concrete source to go to is extremely helpful. If you’re not sure who in your circle of friends and family owns a hybrid, don’t be afraid to ask. Gather as much information as you can from them and then make your decision.  

Hybrid Cars Summary

As stated above, hybrid cars are becoming more and more common as an alternative to traditional vehicles. They have tremendous advantages and some disadvantages, but overall, they’re excellent cars. They help reduce carbon emissions and are fuel-efficient. That alone is causing hybrids to be fervently sought after in the car industry. 

Consider purchasing a hybrid if you haven’t already. If you’re still unsure, that’s okay too. For those that already own one, drive safely and enjoy it.

Frequently Asked Questions About Hybrid Vehicles

Do you still want to know more about hybrids? Here are some frequently asked questions people may have about these vehicles.

Are there different kinds of hybrid vehicles?

Yes, there are actually three types of hybrids. 

• A parallel hybrid has its battery charged by using the brakes. It is the cheaper of the two.
• A series-parallel hybrid charges the battery using the gas engine.
• A full hybrid can run solely on gasoline, solely on electricity, or can use a combination of the two.

When was the first hybrid created?

The first hybrid car was created in 1917. It was a bust and didn’t really become popular until the 1990s. 

What safety risks are there with hybrid cars?

Hybrid cars can be hard for blind pedestrians to hear because when they slow down and go into electric mode, they are very quiet. Also, hybrids are built out of lighter materials so it takes more damage during an accident than traditional cars. 

What kind of driver should own a hybrid vehicle?

Someone that wants to save on gas and preserve the environment should get a hybrid.  

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.