Honda Fit EV Offers Customers Free Auto Insurance

Honda Fit EVPhoto: bigbend700

Customers who purchase a new Honda Fit EV may have an opportunity to get their hands on free auto insurance, according to a new announcement from the automaker. The company is attempting to lure in buyers with not just improved technology for the car’s class, but collision insurance with no deductible.

Honda Fit EV Faces Insurance Rating Issues

The Honda Fit EV is the company’s first electronic vehicle and will reportedly come with a few perks, including faster acceleration, better passing performance, greater agility on the road and a competitive charge time.

But one problem the company has faced is the possibility of problems acquiring a good rating from auto insurers, due to the financial risk involved with repairs for the low-volume manufactured vehicle.

To avoid garnering a lower rating from insurance companies due to this technicality, Honda decided the best approach was to simply offer its own insurance to customers, free of charge.

Free Auto Insurance for Honda Fit Customers

Individuals who purchase the new 2013 Honda Fit EV will have the benefit of getting their hands on free auto insurance, according to company officials.

Some insurance estimates state that the insurance cost reduction could be significant for some drivers, depending on factors such as age, driving record and location. On average, drivers could save at least $600 per year under the new program.

The free auto insurance program is not the first to be offered by an automaker. Last year, General Motors experimented with this concept in Oregon and Washington, but chose not to expand the program once it expired.

The Honda Fit EV will hit showrooms this month with just 1,100 leases offered to customers.