Mar
2
2007
Hybrid Cars Draw an Insurance Reduction
Author: Valeria WeberFarmer’s Insurance Group has announced a new policy that it implemented in Kansas on September 1 of 2006. If you own a hybrid or alternative fuel vehicle, Farmer’s Insurance will offer a ten percent discount on auto insurance rates. They are the first American insurer to do so.
“Customers are opting more for vehicles with environmentally friendly hybrid or alternative fuel engines and that trend is expected to continue because of high gas prices and a growing number of hybrid models,” said Frank Soldano of Farmers. “We are happy to offer drivers who are concerned about the environment a discount.”
Sandy Praeger, the state’s Commissioner of Insurance weighed in on the Farmer’s innovative insurance plan with words of high praise. “In order to make our air clean in Kansas, it’s going to take everyone working together. That means not just individuals, but government and business as well. We are proud that Farmers is taking the lead in encouraging the citizens of Kansas to drive environmentally sensitive cars.”
Farmers is a major player in all types of consumer insurance. They do business in forty one states and if they choose to expand this policy beyond Kansas’ borders, it could provide further reason to consider a hybrid automobile. While the U.S. automakers have fought fuel efficiency requirements for years, their foreign competitors have developed quality hybrid technology. Now that fuel prices have jumped, there are waiting lists for cars like the Toyota Prius.
April 18th, 2007 at 10:14 pm
This is a splendid marketing idea by Farmers’ Insurance Group. They get to ride the immensely popular environmental wagon, all the while increasing their appeal to a specific subset of the driving population. I like the idea, and hope it expands to other locations, as well.