Did You Know?

When thinking of hybrid cars, many people are to quick to point out that hybrids are as wallet friendly as they are environmentally friendly. While that's true when it comes to fuel economy, it can be deceiving as well. For instance, insurance premiums on smaller cars, including hybrids, are generally more expensive. In a study by Insure.com, an online insurance broker, smaller vehicles were found to be much more expensive to insure than larger automobiles. A 40-year-old male driver, for example, would pay an average of roughly $1,700 per year to insure a 2009 Mini Cooper, whereas that same driver would pay less than $1,300 per year to insure a Toyota Sienna Minivan. Higher insurance premiums on smaller cars are a reality because smaller vehicles are involved in more accidents and result in more claims, particularly for injuries. Another financial burden of buying smaller cars, and another reason for higher premiums, is their chances of being stolen. Smaller cars have higher theft rates. According to the National Insurance Crime Bureau, four of the top 10 most stolen vehicles in the United States are compact cars. Hybrids can be cost-effective only when compared to traditional vehicles. Higher fuel costs actually help hybrid drivers. As the price of gas rises, hybrid drivers save more over drivers of other types of cars. What these points illustrate for those thinking of purchasing a hybrid car is that it should be done for the right reason: to make a positive impact on the environment, as opposed to simply save money. In the long run, the financial benefits might not be as great as you think, but you'll still be helping the environment.