A few years back, it was difficult to find a hybrid or green car. These new eco-friendly vehicles are not as popular as the faster, more fuel-guzzling cars of the past. You would have to be passionate about environmental change in order to consider an eco-car. Even then, you could face ridicule.
The world has changed drastically and people are now more open to the possibility of climate change. More Than insurance conducted an early 2006 survey and found that nearly one in six people would be open to switching to hybrid cars. The UK has seen a double-digit increase in hybrid car sales since then. According to the Society of Motor Manufacturers (SMM), 6,538 hybrid cars were bought between 2006 and 2007. In comparison, only 3,117 vehicles with auxiliary batteries were sold in 2005 to 2006. The SMM figures show that the sales of sports utility vehicles fell by an insignificant 12%.
Car insurance companies have adapted to changing consumer behavior by offering eco-friendly policies. CIS was the first company to offer ‘ecoinsurance’. This policy helps offset 20% of your car’s CO2 emissions through investments in renewable energy sources, reforestation and education programs from third world countries. The policy offers a 10% discount to cars in tax band B, which is those that emit less CO2 per kilometre. It also selects repairers who only use recycled materials. This package of incentives should please those more environmentally conscious.
Other car insurance companies are also eco-friendly. All new customers receive free carbon offset for the first 3,000 miles if they purchase their insurance online. Hybrid, electric, and alternative fuel vehicle drivers are eligible for a 15% discount. The new Ibuyeco allows drivers to offset 100% their carbon emissions. You can get two quotes: one to cover your premium, and another to offset the emissions.
While you should carefully consider all premium payments before making any decisions about your insurance policy, some eco-friendly policies can be found to be very affordable. For example, CIS offers a premium on a quote to a 35-year old teacher driving a Toyota Prius 1.5L (PS307.83 compared with PS339.15 with Tesco and PS347.55 via Direct Line).
Many of us have become more conscious about environmental issues in recent times. It is encouraging to see insurance companies responding to consumer pressure and offering policies that encourage drivers to be green. “Drivers are more conscious about the environmental impact that they have on the world.” Companies are offering eco-friendly insurance policies to give motorists an incentive to be more environmentally conscious without having to sacrifice their cars,” Sophie Neary, BeatThatQuote.com product director.
Neary added some warning words, however. “Some drivers may spend more on car Insurance than they should – for instance, opting to have third party, fire, and theft coverage when a full comprehensive policy is cheaper. While it is wonderful to find insurance incentives that fit your lifestyle, be mindful of your premium costs and continue to shop around for the best deal. Simply put, eco-friendly policies are good for your heart and head. But don’t let your passion for the environment keep you from looking at the bigger picture to find the best deal for any car you choose.
