Green car insurance 'becoming more popular'
Published On 22 September 2007
More and more consumers are starting to think about green car insurance products, an industry expert has said.While Duncan Bowker, a spokesperson for Co-operative Insurance Services (CIS), acknowledged that green car insurance was still something of a niche product, he added that demand for environmentally-sound financial products was growing.
"I think there are more and more consumers now switching on to green forms of consumerism and I think financial services are one of those areas," he explained.
Mr Bowker explained that some insurers had now started offering discounts for greener cars, in a move to reduce climate change.
"The take-up has been very positive and the pleasing thing for us is that the take-up has been across the various demographics, it's not been just one age group that's been switched on to green insurance," he added.
Finally, Mr Bowker added that CIS was working to "financially incentivise our damage repair network to repair rather than replace".
Recently, Lucy Bailey, a marketing Manager at ibuyeco confirmed that there was a demand for green car insurance products.
She said: "With UK road traffic accounting for 25 per cent of all CO2 emissions there was huge demand for an insurance product that helped counteract the damaging effect our every day use of the car was making."
