Hybrid car insurance comparison | What you need to know | Finder

Hybrid car insurance comparison

Compare hybrid car insurance and learn how you can save money.

Hybrid car insurance

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Looking for car insurance for your hybrid electric vehicle? This guide will help you understand how insurers view your car and what features you need to look for in a policy.

Who offers cover for hybrid cars?

There's nothing particularly different about hybrid cars, apart from their supplementary on-board electric motor and a small battery pack. Other than that, they're pretty much like a non-hybrid model. Most general car insurers should cover hybrid vehicles, including Bingle, Budget Direct, Youi and QBE, among others. Below, you can get quotes for hybrid car insurance from these providers.

Name Product Roadside Assistance Accidental Damage Storm Choice of Repairer Agreed or Market Value
Budget Direct Comprehensive
Optional
Optional
Agreed or Market
Finder's summary: Awarded the 2019 Finder Award for the Best Value Car Insurance, this policy offers solid coverage at a low cost plus you will get 15% discount on first year's premium when you take out a policy online. Budget Direct’s claims service has received a 4.2/5 based on nearly 5,000 customer reviews.

Who it might be good for: People who want a comprehensive policy without breaking the bank.
Bingle Comprehensive
Market
Finder's summary:Bingle consistently comes up as one of the cheaper insurers out there. It only covers the basics, so you don't get to choose your own repairer, you're not covered for personal items in the car and unless you add it as an option, you won't get a hire car if your car is stolen. But this keeps its premiums low.

Who it might be good for: Someone who wants a low-cost option that covers them for the basics.
Coles Comprehensive
Optional
Agreed or Market
Finder's summary: Coles have two-tiers of comprehensive car insurance to choose from. You'll earn double flybuys points at Coles supermarkets and you can get $10 off your Coles grocery bill every time you redeem 2,000 Flybuys points. If you're over 30, you can get roadside assistance free for a year.

Who it might be good for: Coles customers and Flybuys collectors.
Poncho Comprehensive
Agreed
Finder's summary: Poncho works like a monthly subscription – you pay monthly and can cancel and leave at any time. You can also list multiple cars and drivers under one policy, making it ideal for families and groups living together under one household.

Who it might be good for: People who want their car insurance month to month.
Woolworths Comprehensive
Optional
Agreed or Market
Finder's summary: Woolworths catches our eye due to some unique perks like a price-beat guarantee, where it'll beat any current comparable comprehensive renewal notice if you're over 25. You'll also get 10% off your grocery shop once a month and can add roadside assistance onto your policy for just $7.35 per month.

Who it might be good for: Woolworths shoppers and those that want to take advantage of its price-beat guarantee.
Qantas Comprehensive
Optional
Optional
Agreed or Market
Finder's summary: You'll be able to choose how comprehensive you want your cover to be with optional extras like choice of repairer and the option of agreed or market value. Plus earn Qantas Points for joining and paying your premium. Sign up by 2 May 2021, you can earn up to 30,000 Qantas Points (points awarded will be based on your premium). T&Cs and eligibility apply.
ahm Comprehensive
Optional
Both
Finder's summary: ahm comprehensive car insurance lets you choose higher excess to reduce your premiums plus you can get up to 15% off when you purchase a new car insurance policy. T&Cs apply. Additionally, their Fixed Kilometre Plan can save you up to 30% compared to their standard comprehensive cover.

Who it might be good for: People who drive less than 15,000 km per year.
Virgin Comprehensive
Optional
Optional
Agreed or Market
Finder's summary: Finalists for the 2019 Finder Awards for Best Value Car Insurance, Virgin Comprehensive provides a good level of cover for a decent price. Get 15% off on your first year’s premium when you purchase a new eligible comprehensive car insurance online. T&Cs Apply.
QBE Comprehensive
Optional
Agreed or Market
Finder's summary: QBE is a sustainable insurance company and also Finder's Green Insurer of the Year 2020 Award winner. This policy offers the highest level of protection available from QBE including three-year new car replacement. You can also save $75 when you purchase a new comprehensive policy online. T&Cs apply.

Who it might be good for: Those that are looking for a more environmentally friendly insurance choice.
Stella Comprehensive
Optional
Agreed or Market
Finder's summary: Stella’s a female-focused insurer. It'll cover you if your car is damaged as a result of domestic violence. It offers higher cover for baby gear than most, with up to $2,000 cover for prams, strollers and child seats. Get $50 cash back when you purchase online between 1 April – 30 June 2021 using the code STELLA50. T&C apply.

Who it might be good for: Someone who wants a female-centred car insurance policy (it will cover men too).
Youi Comprehensive
Optional
Agreed or Market
Finder's summary: Youi Comprehensive Car Insurance is one of the few providers to include roadside assistance in its policy. You'll also get access to YouiRewards which gives you discounts on furniture, parking and more. Youi also has a live chat feature on its site to talk through any questions.

Who it might be good for: People over 25 who want comprehensive cover with a focus on customer service
Real Comprehensive
Optional
Agreed or Market
Finder's summary: Real Comprehensive Car Insurance provides similar coverage to other insurers for the important stuff like looking after your car if it's stolen or you crash. They're also one of the few insurers who offer a Pay As You Drive policy, so you might be able to save big if you don't drive much.

Who it might be good for: Those that don't drive much can take advantage of their Pay As You Drive policy.
Australia Post Comprehensive
Optional
Agreed or Market
Finder's summary: Australia Post car insurance offers comprehensive cover for things like theft, fire, new for old replacement and emergency accommodation and transport. Cover also extends to anyone who uses your car, not just you.

Who it might be good for: If multiple people use the one car and you don’t want to worry about listing all drivers.
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Is it cheaper to insure a hybrid car?

It depends. On shopping around, out of three quotes for a hybrid and a conventional fossil-fuel car, the insurance for the hybrid was cheaper on two of them. Why? Well, some hybrids might be cheaper to insure, versus the same model of car with a non-electrified system, thanks to the smaller capacity engine. That can help offset the higher entry prices. That's not always going to be the case though.

Here are some things to consider:

  • Cost. Hybrids are more expensive to buy than non-hybrids. For example, a Mazda 3 G25 Astina 2.5-litre petrol costs from $42,117 and the hybrid X20 Astina is priced at $44,697. If you were to compare insurance for the exact model, one as a hybrid, the other non-electrified, then the hybrid is probably going to cost more to cover. A higher value is typically going to carry a more expensive policy premium, at least in theory.
  • Extra parts and components. Hybrid cars have extra systems not present on standard vehicles. These components add extra expense and complication to repairs. Technicians require additional training to work on them safely, which could make it trickier for the insurer to locate a repairer. Those who are qualified to work on electrified cars might also charge more for their services. As a result of these extra hurdles, insurers may charge more for a hybrid car policy.

Money-saving tip

A great way to save money on car buying and insurance is choosing a lower grade model. If you can live without things like leather seats and large alloy wheels, you could potentially pocket thousands of dollars on the purchase price and secure savings on your annual car insurance premium.

Over time, you'd expect hybrid cars to drop in price, as more models are rolled out. More repairers will be trained in working on vehicles with hybrid electric systems and aftermarket parts suppliers will begin producing OEM spare components. This should help drop the costs of fixing a smashed hybrid and help balance out insurance costs.

Hybrid car vs non-hybrid vehicle insurance costs

To get a fair estimate of the difference in price for insurance, we sought out three quotes for a white 2020 Toyota Corolla Ascent Sport hatch (with a 2.0-litre engine and automatic gearbox), as well as the equivalent Toyota Corolla Ascent Sport hybrid model.

The non-hybrid Corolla has a driveaway price of $28,768, while the hybrid is priced at $31,029, a 7.56% difference in value.

We used an address in New South Wales postcode 2000 for the comprehensive quote, with a 30-year-old, rating one driver. No other driver was added to the policy. The car was marked as being kept in a garage overnight. We used the standard/suggested excess.

InsurerAscent Sport 2.0-litre yearly premiumAscent Sport 2.0-litre excessAscent Sport Hybrid yearly premiumAscent Sport Hybrid excess
Insurer A$886.68$850$847.44$850
Insurer B$691.76$895$704.59$895
Insurer C$840.72$920$832.63$920
Average$806.38$888.33$794.88$888.33

Popular hybrid cars and their running costs

The below table shows 5-year running costs and prices for 3 of the top-selling hybrid cars in Australia when covering 15,000km annually.

VehicleRetail priceEstimated on-roadMonthly expenses
Toyota RAV4 GXL Hybrid$39,915$42,315.60$1,112.70
Toyota Corolla Hybrid$25,870$29,987.85$823.95
Hyundai IONIQ Elite Hybrid$35,140$38,907.05$986.21

On-road costs include registration, insurance, licence and RACQ membership. Expenses include loan repayments, insurance, fuel, servicing and tyres. Figures provided by RACQ.

Can I get a discount on hybrid car insurance?

Some insurers will knock off money if you have a low emissions car. For example, RAC car insurance in Western Australia offers 25% discounts on low-emission vehicles, under a year old. The reduction drops 5% each year until the car is 5 years old.

You can also save money on your car registration if you buy a low-emissions vehicle, while duty costs may also be lower.

Do I need specialised insurance for a hybrid car?

You don't need any special policy, as most major car insurers will cover hybrid cars. You might find it more costly if you're going for a top-end model, but that's more to do with the vehicle's value and not solely the fact that it's a hybrid.

Is it better to get my own choice of repairer?

You need to decide whether you want to choose your own accident repairer if you have an accident. On the plus side, you can pick a more convenient repairer, perhaps close by to your home or work. It might be able to get the car fixed and painted faster than the insurer's chosen partner.

If you own a hybrid, especially an expensive, top of the range model, you might want to pick a repairer that specialises in electrified vehicles.

On the downside, you may have to pay extra for the privilege. We've created a guide to help you understand the pros and cons of choosing your own car repairer.

Can I get third party insurance for my hybrid car?

Yes, you can. Almost all of the car insurers will offer third party, or third party, fire and theft, as well as comprehensive cover, for hybrid cars.

On paper, with third party insurance, you're going to save money with your premiums, but the level of coverage is more restricted. For example, if you have a third party policy, you could end up majorly out of pocket if you have an accident. For more information about policy types, see our comprehensive vs third party car insurance guide.

Need help picking a new hybrid car? Check out our hybrid car reviews section, or, if you already know what you are after, it might be worth comparing green car loan deals. Don't forget to compare car insurance, doing so could save you money.

Picture: Getty Images

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