Green Car InsuranceUnderstanding green car insuranceDespite a global economic crisis, sales of green and hybrid cars have held comparatively firm. In September 2008 after oil prices hit record levels and the motoring industry slumped, sales of hybrids fell just 8.9 per cent from their 2007 high compared to an overall fall of 26.6 per cent for other light duty vehicles indicating that while not immune from the crisis, green cars are seen as a solution. This is because there are numerous benefits to green cars. Not only are they helpful for the environment because they produce fewer greenhouse gas emissions (electric cars produce zero emissions) but they also save drivers a significant amount of money too. Hybrid cars offer better fuel efficiency than most conventional cars – with the Toyota Prius capable of 60mpg – and because of their environmental benefits they fit into low vehicle excise duty bands and are exempt from congestion charges. What about green car insurance? One of the few financial downsides to owning a green car is that there is no insurance advantage. The fact that green car drivers are often safer behind the wheel because they drive in a more economical fashion is outweighed by the fact that repair costs can be higher for hybrid and electric cars. As such, insuring a green car can often be as expensive as insuring a conventional vehicle. However, several car insurance providers have started to offer green car insurance (also known as ethical car insurance) policies. These policies specifically target drivers with an ethical conscience who are worried about the impact their driving is having on the environment. As such the majority offer carbon offsetting schemes in which every mile you drive and effectively pollute the atmosphere is "offset" by a green scheme somewhere in the world such as planting trees or creating renewable energy sources. Critics argue that these schemes are not always financially beneficial for drivers – and that some may be better off finding the cheapest car insurance online and then putting the money saved towards a green scheme. However, if you don`t trust yourself to do that, then green car insurance is an ethical solution. Which providers offer green car insurance? There are several green car insurance providers on the market including: - Co-operative Insurance Featuring "eco car insurance" which will offset 20 per cent of a vehicle`s emissions through reforestation and renewable energy projects. - Egreen insurance Puts a portion of the premium you pay towards buying half an acre of rainforest. - The Green Insurance Company Will offset your vehicle`s emissions 100 per cent. Also includes discounts for driving low emission cars and a portion of the company`s profits go towards charity. - Ibuyeco Methane capture and renewable energy projects are funded by this insurer to offset 100 per cent of your vehicle`s carbon emissions. - More Than A mainstream provider that has introduced a unique "Green Wheels" policy to help people understand how their driving style affects the environment and how to improve green performance. How to make a green car insurance claim Making a claim on a green car insurance policy works in much the same way as making a claim on a conventional policy – but you should think about whether it is truly necessary as it is likely to cause a rise in your premiums. If a claim is necessary, contact your insurer at your earliest opportunity. They may require you to complete an accident report form and you should ask them what evidence or supporting documentation they need. If your car is damaged, don`t book it in for repairs without consulting your insurer first. If you use their approved garage for the repairs you may find that the process is quicker and easier. If you are not satisfied with the service your insurer provides in the event of a claim, remember to shop around for your car insurance at renewal time  |
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