June 11, 2007 / 8:15 AM / 10 years ago

Eco-drivers get insurance benefits

LONDON (Citywire) - Drivers doing their bit for the environment will be rewarded for use of eco-friendly cars as insurers catch on to the eco-boom.

<p>Drivers doing their bit for the environment will be rewarded for use of eco-friendly cars as insurers catch on to the eco-boom. File photo shows Toyota's Prius gas/electric hybrid car. REUTERS/John C. Hillery</p>

Research by moneysupermarket.com shows that more insurance companies are doing their bit for the environment without stinging the drivers, after the sale of hybrid cars doubled in Britain this year.

CIS came out on top for environmentally friendly perks, offering customers offsetting for 20 percent of a car’s CO2 emissions by investing in third world education schemes, reforestation and renewable energy sources. It also offers a 10 percent discount for cars in the most environmentally friendly tax band of A and appointed repairers that are paid more to ensure materials such as used oil and old bumpers are recycled.

It also offered the best price above other eco-insurance polices offered by MoreThan and ibuyeco.co.uk which offsets 100 percent of your car’s carbon emissions.

Richard Mason, director of insurance at price comparison website moneysupermarket.com, said: ”Many drivers are concerned about their impact on the environment and in an effort to ‘go green’ have been be tempted to opt for eco-friendly insurance.

”In March, I called on insurers to make green premiums more competitive or else concerned motorists could simply shop around for the cheapest deal that met their needs and give some of the money they saved to eco-friendly causes.

“Our research shows CIS has taken this on board with very competitive premiums now. It would be tremendous if ibuyeco and MoreThan followed suit.”

c Citywire Financial Publishers Ltd 2007.

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