Are hybrid cars expensive to insure?

While driving and maintaining a hybrid car seems somewhat different compared to a standard fossil-fuel vehicle, insuring a hybrid vehicle is very similar. If you have a hybrid vehicle and want to protect it, don’t fret because it’s a similar process and scale to insuring a standard non-hybrid car of a similar price. 

At AutoDeal, you may check our Car Insurance Calculator to get estimates and even quotes to protect your vehicle from the dangers of the outside world. Be it accidents or even a few scrapes on the way to your destination, getting insurance is a must for drivers that want to keep their vehicles running well and keep their financial stability in check should an accident happen. 

We’ve said this time and time again in many of our articles covering the topic. You can get by with standard third-party liability or TPL insurance, but it’s optimal to invest in a comprehensive policy for full coverage. As such, the rates displayed in our insurance calculator and the rates we’re covering in this article will be for comprehensive coverage. 

Remember that all figures stated are estimates of the prices as displayed by our insurance calculator, and are updated regularly, so do check for the actual rate on the calculator itself. The vehicles in this list that were used as examples may also experience price changes over time, which could affect the result of our calculator. Our findings are condensed for simplicity’s sake and for ease of reading, but are based on actual estimated rates given by companies like Mapfre, FPG Insurance, Malayan Insurance, and Fortune General to name a few. 

For starters, it can be a big difference since most insurance companies in the Philippines offer rates depending on the value of the vehicle. It’s without a doubt that the hybrid variants of most vehicles in the market will come with a higher price tag compared to the standard gasoline-only trim levels.

Vehicles like the Toyota Corolla Altis can have premiums of about P30,000 per year for the top-spec gasoline-only variant, but the hybrid model can be insured for a rate that’s about P38,000 per year. The pattern repeats for cars of similar price ranges. For example, the Honda Civic RS Turbo goes for around the same price as the Hybrid Corolla Altis sedan, and our calculator shows that the Honda gets comprehensive coverage for about P38,000 per year as well depending on the insurance provider that you go with. 

Remember that the rates scale with the price of a car, so a more affordable model like the Geely Okavango in its top-of-the-line trim will be as high as P30,000 to insure even if it is a mild hybrid. 

Hybrid vehicles don’t really have a price premium when it comes to insurance and just insurance. The rate scales with how much the vehicle costs. However, given that hybrid vehicles are costlier than standard gasoline-only variants, there is a noticeable jump. Comparing apples to apples, however, cars of similar value will be charged the same per year.