Green car insurance market to expand
According to Co-operative Insurance, environmentally and ethically sound car insurance is still a niche market but it is becoming more popular with consumers. Co-operative Insurance commented that once consumers realised that the ecoinsurance did not cost them anything, they were very eager to get on board.
According to the Green Car Site, hybrid car sales in Europe increased by 25% in the first half of 2007 compared with the same period last year. Furthermore, low-emission cars comprised 15% of all new registered cars.
Co-op launched the first ecoinsurance in 2006 which helps to offset some of the damage a car’s carbon dioxide emissions causes to the environment.
A spokesperson for the Co-op said they had received a very positive response to their ecoinsurance and the take-up has been across the various demographics.