Finding ways in how to save on insurance? Planning to buy a new car because your old one is already dysfunctional or inefficient? This is a good time and opportunity for you. In these times, insurance companies are starting to give discounts to eco-friendly vehicles. In fact, many people are already doing so. We are all aware that choosing gas guzzlers as your vehicle is a foolish option, given that the economy is already in hard times. Also, there are incentives for us to switch to hubris vehicles. Aside from the fact that they are cheaper and supported by the government, they are also more economical to use as they consume less fuel. As we can see, using fuel efficient vehicles is a great decision in a time of unpredictable and drastic price changes in fuel. In fact, the government is already doing steps to encourage the switch to fuel efficient hybrids.
The federal government already enacted the CARS law. CARS mean Car Allowance Rebate Systems, which was recently passed by congress and enacted by President Obama. This program aims to give financial aid to consumers willing to switch their old, less fuel efficient cars for cleaner, more fuel efficient hybrid ones. In fact, the government already allotted up to 1 billion dollars for this cause. Under this law, consumers are enabled to get $3500 to $4000 dollars in discounts when trading their cars. This program started July 2009, and can be availed until November 1, 2009.
Likewise, insurance companies are already following suit. These companies are already offering discounts for consumers who switch and use hybrid cars. They also give breaks to such customers. Usually, drivers using these eco-friendly vehicles are categorized to preferred insurance categories, wherein they get lower insurance premiums. This is because insurers generally view hybrid users to be more responsible and cautious drivers, making them less likely to be involved in car accidents, and lowering their risks. Also, hybrid users are seen to be less likely to file claims on insurance companies, of course because they have fewer propensities to be involved in accidents.
Some say that it is still cheaper to insure your old vehicle. This may be true, but they actually overlook the benefits of getting a hybrid in the long run. To be able to see the big picture, we must take into consideration other expenses such as gas bills, and insurance policies. Although it may be cheaper for you to insure your old, fuel-inefficient vehicle, it is still more expensive for you to pay its high gas bills, given that fuel prices nowadays are not stable and is subject to frequent increases. Switching to hybrids actually get you cheaper gas bills, while enabling you to avail insurance discounts, plus, you’re helping the environment.
