Hybrid car sales have ballooned the past few years, and that's especially true in certain states, such as California and Massachusetts. Because hybrids cost more to buy, insurance rates are usually a bit higher, too. But owning a hybrid in Mass just got a little beat easier. Hybrid car owners are being offered a 10 percent discount by Travelers Insurance.
Press Release Follows:
WORCESTER, Mass.--(BUSINESS WIRE)--Massachusetts drivers are increasingly going green as the number of registered hybrid vehicles in the state has increased by 36 percent during the past nine months. The timing couldn’t be better for those drivers as the state’s new managed competition system for auto insurance allows them, for the first time in state history, to take advantage of auto insurance discounts created especially for hybrid drivers from insurers such as Travelers of Massachusetts.
According to the state Registry of Motor Vehicles, there are currently 22,353 registered hybrid cars in Massachusetts, up from 16,477 in July of 2007, for an increase of 36 percent. Hybrid cars are generally defined as vehicles that use gasoline and an alternative fuel source such as electric or fuel cell.
Travelers introduced the hybrid discount option to stay ahead of one of the fastest-growing markets in the industry. Providing the right insurance solutions that are in-synch with today’s environmentally conscious individuals is one way Travelers of Massachusetts is meeting the needs of its customers.
“Travelers of Massachusetts is pleased to offer a discount up to 10 percent on auto insurance to Massachusetts’ hybrid drivers,” said Dick Welch, president of Travelers of Massachusetts. “Ever since Travelers wrote the nation’s first automobile policy back in 1897, the company has been committed to meeting the evolving needs of the consumer with innovative insurance products. Protecting the environment and conserving natural resources are important principles to us and Travelers of Massachusetts is proud to do our part to encourage the use of fuel efficient vehicles.”
To learn more about the hybrid discount, Travelers has launched a Web site specifically for hybrid enthusiasts at www.hybridtravelers.com. The site features federal and state incentives for hybrid owners and information on how to take advantage of the hybrid discount.