With a refreshed style, a spiffier new electric motor, and a total cost of ownership of roughly $20,900 (based on average insurance cost, depreciation and other factors (for the base hatchback, as outlined by Motor Trend), the 2010 Toyota Prius, is one of the most iconic, and one of the most desired of all hybrid cars on the market. After all, driving a hybrid saves you money on fuel, allows you to know that you’re causing less damage to the environment, and in some states, it qualifies you to drive in the car pool, diamond, or HOV (high occupancy vehicle) lanes without passengers – without a penalty. There is also still some tax credit money floating around for savvy shoppers in states that aren’t hybrid-saturated already.

Even with all these benefits, however, insurance is still one of the more expensive aspects of Prius-ownership. While more and more data is being amassed, these cars are still considered “risky” from actuarial standpoints, and their specialized parts also increase your premium, because they can’t be fixed at just any repair shop.

The good news is that there are ways to save money when insuring your Prius – or any other hybrid car. First, you should know that, while it’s not yet an industry standard, most major insurance companies offer hybrid car insurance discounts of up 7-10%. Shop around until you find one, then discuss the following money-saving tips that are applicable to any car, hybrid or not, and more likely to be applicable to drivers of alternative-fuel vehicles.

• Mature Driver: Hybrid drivers tend to be people who are already well-established in life. If you’re a driver of a certain age, you may qualify for a discount.
• Low Mileage: If you drive fewer than 14,000 miles a year, you may be able to save money on insurance.
• Auto/Home/Life Bundling: By having one company carry all of your insurance, you stand to earn a hefty discount on all of the policies you have. Even if you don’t have life insurance, you should consider bundling your homeowners and auto policies.
• Anti-theft Devices: Is your Prius fitted with LoJack or another tracking device, or does it have an alarm system? If so you may be able to save money on  insurance.
• Defensive Driving: Even hybrid drivers have to deal with other traffic. Take a defensive driving class to refresh your skills, and you could get a discount of 3-5% that lasts for three years, at which point you can take another class.
• Safe Storage: As a Prius driver, you’re more likely to live in a single family home with a locked garage, and that home is likely to be in a low-risk zip code. All of these factors combine to help lower your insurance, though they’re not, strictly speaking, a discount.
• A Higher Deductible: As the owner of a hybrid car, you’re more likely to have a decent amount of liquid cash. Put this to work by increasing the size of your deductible. An increase from $200 to $500 will reduce your premium by up to 30%, and bumping that deductible up to $1,000 can reduce what you spend by 40% or more.

While hybrid cars are often given an instant discount, the tips above are really about the hybrid driver, which makes sense. After all, it’s the driver who chooses the car.  
 

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