Insurance Company Bets on Hybrids
Are tree-hugging, middle-age owners of hybrid
vehicles a better risk than drivers of ordinary autos? St. Paul Travelers
Companies Inc. is betting they are.
Dodge diesel-electric hybrid prototype
Are tree-hugging, middle-age owners of hybrid vehicles a better risk than drivers of ordinary autos? St. Paul Travelers Companies Inc. is betting they are.
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Travelers, the fourth largest property and casualty insurer in the United States, is giving a 10 percent discount on auto insurance to hybrid owners beginning in February. It is the first auto insurer to implement such a discount nationwide.
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[Greg] Toczydlowski, the Travelers executive launching the program, said he had found that drivers tend to use hybrids to commute between home and work and generally stay within speed limits, thereby reducing some of the risk associated with driving a motor vehicle.
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According to Travelers, hybrid owners it insures are typically married, aged 41 to 60, with both genders represented equally.
Probably better educated than the average driver, as well. Likely to spend some time researching before decision-making — instead of trotting out to your friendly neighborhood SUV store after a Hummer commercial.
Posted: Fri - January 6, 2006 at 09:30 AM