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Would You Go Electric for Free Insurance?

July 2nd, 2012

The ‘buy a car and get insurance’ shtick has been around the block before.

General Motors experimented last year with giving away insurance as a way to entice buyers, but quietly let the program expire after it failed to bring in crowds of willing customers.

Honda has become the latest to try and lure customers with free insurance, but only on a single model that really shouldn’t need incentives or gimmicks to boost sales: The Honda Fit EV. You would think Honda’s first electric vehicle would be popular enough on its own, but the company hopes its offer of no-cost insurance will help get 1,100 people to sign the dotted line on a lease.

If this story seems suspicious to you, you’re not alone. I read about it and immediately asked myself three questions:

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