CIS: Green car insurance market to grow

21 September 2007
Although green insurance is still a niche market is it becoming more popular with consumers, according to an expert.

Duncan Bowker of Co-operative Insurance said that once consumers realised there was not cost to them to be greener they were eager to get onboard with ecoinsurance.

Co-op introduced the first ecoinsurance last year, which helps to offset the damage done by driving to the environment.

European hybrid car sales increased by 25 per cent during the first six months of 2007, comapred with the same period last year, according to figures published by Green Car Site.

In addition, the report said low-emission cars also comprised 15 per cent of all new registrations.

Mr Bowker said: "The take-up has been very positive and the pleasing thing for us is that the take-up has been across the various demographics."

He suggested that the take-up in green insurance had flowed over from other consumer areas as people sought more ways to be eco-friendly and ethical.

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