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Auto Insurance Rates for a Chevy Volt

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It is impossible to say how much the insurance will be for the Chevy Volt because at the time of this writing, the Chevy Volt has not yet been released for sale. It is slated to be released in the middle of 2011, which is still a couple of months away.

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There are a number of factors that go into determining how much car insurance rates are for any vehicle. You will need to look at those, and talk to a few companies to best determine your rates.

How much are Chevy Volt car insurance rates?These factors include:

  • Age of the driver
  • Value of the vehicle
  • Gender of the driver
  • Amount of the deductible
  • Insurance company chosen
  • Driving history of the driver
  • Where the car will be driven
  • How much the car will be driven
  • The city, state and county the car will be in the most

While it is easy enough to determine what the national average monthly premium insuring a vehicle, it is virtually impossible to determine what it will be for you because of all the factors the insurance company considers when giving a car insurance quote.

Can you explain more about how the Volt runs?

For an easy explanation, it’s safe to say that say that the Volt operates in a way similar to a standard diesel train locomotive.

It uses electricity to drive the vehicle and a small gasoline engine to recharge the depleted batteries while you drive.

This system has proven to be extremely cost efficient in the railroad industry where locomotives can pull incredibly large amounts of cargo while using very little fuel. Chevy has simply adapted the principle for automobiles and has thus produced an equally efficient car. Yet, because of the car’s unique nature, it is expensive.  Expensive cars usually require more expensive insurance.

Will the insurance for the Chevy Volt be higher than other cars?Chevy Volt car insurance rates

One of the first things that you have to consider is the value of the Chevy Volt. The cost of the Volt is a whopping $41,000 to start. There are a couple of upgrades that you will need to include if you want your Volt to be more efficient that will add nearly $10,000 to the overall cost. This means you will be insuring a $51,000 vehicle.

What this means it that insuring a Chevy Volt isn’t going to be cheap. What’s more, it is going to be downright expensive to insure this car. Perhaps not thousands of dollars a month, but certainly in the $125 to $200 a month range depending on where you live.

This range is so big because all of the other factors mentioned above will have to be considered as well. If you are a bad or high risk driver, for example, then your rates will increase, if you choose a larger deductible then your rates will decrease.

Different insurance companies offer different kinds of discounts as well. That is why it is important to shop around for your car insurance before you choose a company. The rates can vary by several hundred dollars a year.

Another problem that the Chevy Volt faces in terms of insurance is that there are no safety ratings on the car.

That is because it hasn’t been tested yet. A good safety rating will equate to lower rates and until the safety ratings are released, your insurance company will charge you more for that.

Will the tax credit for the Chevy Volt help to negate some of that insurance cost?

As you probably know, the government is giving you a tax credit of $7500 if you purchase a hybrid or electric car. The problem with this tax credit is that it isn’t cash in your pocket. Some of you will see a return based on this credit and some of you won’t, depending on your tax situation.

In addition, the Chevy Volt takes 12 hours to charge enough to drive for 50 miles unless you purchase the upgrade for your vehicle.

Most people use the tax credit offered by the federal government, plus any credits their state government provides, to pay for the necessary upgrade to get a 4 hour charge time instead of 12.

So, will the tax credit help you out? It’s possible, but unlikely, that this will make the difference that you want for your vehicle. As mentioned above, a tax credit isn’t cash; it’s $7,500 deducted from your income, so that your taxable income is lowered.

If you get money back from the government each year, then this could be a big break for you, if not then you probably won’t benefit the way you think.

Are there more affordable hybrid or electric cars on the market to insure?


Yes, there are several other electric or hybrid cars for you to consider. The Toyota Prius has been on the market since 1997 and is a popular choice for people who want an ecologically friendly vehicle. Its price tag of $30,000 will help reduce your insurance costs. The Nissan Leaf is another option and for $32,000 this will also garner you lower interest rates.


There are several other choices for you to consider and there are some upcoming hybrid, crossover and electric vehicles that will make a big difference in this overall market that could help with insurance rates too. The key is to shop around for the best car and the best insurance rates too.

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