New Publication by Discusses Auto Insurance Rates for Electric Vehicles

In a recent article published by, the company highlights the important factor of insurance rates for electric vehicles. Electric vehicle insurance is a new kind of insurance.

Online PR News – 01-September-2011 – – Thanks to continuous research and technology, people look for continuous ways to reduce fuel costs, which had led to the development of environmentally friendly electric vehicles. In a recent article published by, a leading online insurance service, the company highlights the important factor of insurance rates for electric vehicles. Electric vehicle insurance is a new kind of insurance. Since electronic vehicles are eco-friendly, insurance companies are ready to offer a discount on the premium. David, manager of says, "Electric vehicles are a saving for insurance companies because these vehicles have a solid, dependable image. A solid, dependable image means fewer accidents, which means fewer expenses for insurance companies. With people becoming more conscious about their environment, insurance companies can only help the cause further with lower insurance rates. However, they are still a bit wary about hybrid and electric vehicles because they don't fully understand them yet."

According to the article, insurance companies are very strict with their guidelines when it comes to insuring electric vehicles. Some owners with more than one accident on their driving history may not qualify for auto insurance on a hybrid or electric vehicle. One of the major factors for higher premiums is the fact that electric and hybrid vehicles have a sophisticated powertrain that is hard to repair for an average mechanic. In addition, parts are more expensive even though the long term advantage of reduced costs due to fuel expenses is always imminent.

David says, "It will benefit vehicle owners tremendously to research before buying electric vehicle insurance. You can go on online and find out about insurance companies that offer electric vehicle insurance. You can also receive and compare quotes of the top insurance providers on our website. The key is to find the right provider. Not all companies offer auto insurance for hybrid and electric vehicles yet." In the open market, Automakers such as Mazda, Ford, Lexus, GM, Toyota, Renault and Honda are now manufacturing affordable electric and hybrid cars. Even the common man can manage payments on eco-friendly vehicle.

Most of the auto insurance companies that cover electric and hybrid cars offer a ten percent discount to the proud eco-friendly auto owners. You also need to read up on the financial history of the insurance company you are going to buy the electric vehicle insurance from. This is important because you need to make sure that the insurance company will be able to pay claims on time without creating hurdles.

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