Daily Insurance Industry News
Daily Insurance Industry News
Tuesday 20th of February 2018
September 16, 2008

Motorists pay dearly for green insurance

by Gill Montia

Story link: Motorists pay dearly for green insurance

Recent research from price comparison website, moneysupermarket.com, has revealed that motorists who are keen to offset their carbon emission by buying eco-friendly car insurance may end up paying 105% more for cover than with a standard policy.

According to the website, premiums on hybrid cars such as the environmentally-friendly Honda Civic, can vary enormously.

For example, while swiftcover is quoting £342, CIS charges £389 and Green Insurance, which says it will offset 100% of a car’s annual emissions by planting trees, charges £701.

CIS also promises to offset carbon emissions but only by 20%. The insurer achieves this by investing in reforestation and renewable energy sources.

According to moneysupermarket.com, CIS is competitive for car insurance but cover for a Ford Fiesta, for example, can cost 37% more than Express Insurance.

Moneysupermarket’s head of insurance research, Peter Gerrard, advises motorists not to assume that eco-friendly car insurance is a good idea.

He suggests that motorists could consider donating money saved by buying standard cover directly to eco-friendly causes, as an alternative to buying green.


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