Why Green Cars Cost More To Insure
Did you know that green cars cost more to insure? If you’re considering buying or leasing a green car, keep in mind that your auto insurance costs will most likely be higher – but why?
Most (but not all) green cars are more expensive than their less eco-friendly counterparts, and generally speaking the more expensive the car is, the more expensive the policy will be. Green cars tend to have more expensive or less easily replaceable parts, making them more expensive to fix or replace. They’re also typically smaller in body, which leaves them more likely to face big damages in a collision.
On a sadder note, the National Highway Traffic Saftey Administration confirmed that green cars are more likely to hit pedestrians and bikers because the cars are so quiet that people don’t hear them coming. It’s easier to avoid a collision with a pedestrian when the pedestrian can hear your motor coming at them and they have the chance to jump out of the way. With green cars, pedestrians may not have that chance.
On the other hand, some insurers (like Travelers) offer discounts for drivers with green cars as an incentive to clean up the environment. If you have a green car now or are considering purchasing one soon, let your insurance agent know before you buy your plan. You might be better off purchasing a plan through a carrier who offers discounts. Mercury Insurance actually has a list of green cars that are cheaper to insure. The Honda Fit (which was rated as the #1 subcompact car of 2016), the Ford Fiesta (praised for its gas mileage), the Mazda3, and the Hyundai Elantra were all listed. Consider those models if you have your heart set on buying a green car but need to keep your insurance costs low.
If you’re ready to insure your green car (or other vehicle) in Tennessee, give our licensed InsureTN agents a call at 615-964-5250.