Green insurance 'not the best way to help environment'
Published On 28 March 2007
Car insurance policies which claim to be environmentally friendly may not be the best way for drivers to help save the planet, a new report argues.Consumer website moneysupermarket.com revealed that green car insurance policies can be up to 44 per cent more expensive than 'normal' ones.
According to the website, insurers have been keen to cash in on the desire of the British public to do their part and reduce carbon emissions. However, these insurers are also increasing their prices to unfairly profit from drivers with an environmental conscience.
"Drivers are increasingly concerned about their impact on the environment and in an effort to 'go green' many may be tempted to opt for eco-friendly car insurance," explained Richard Mason, director of insurance at the price comparison website.
"But until insurers make green premiums more competitive, my advice is to shop around for the cheapest deal that meets your needs and give some of the money you save direct to eco-friendly causes."
By adopting this tactic, Mr Mason said that drivers would both obtain car insurance and make sure their money was going to help the environment.
Mr Mason added that that the high maintenance costs of dual-fuel cars meant that it was unlikely premiums would decrease in the near future.
Recent research suggested that many consumers would choose green products if there was a financial incentive to do so.
