Green Car Insurance - How It Stacks Up

Fear over higher running costs is a major concern than is preventing a large amount of people taking the step to scrap their old car and upgrade to something a little kinder to the earth. A leading financial website has revealed however that people switching to these greener automobiles will not be paying more for their insurance than they would if they stuck with their standard cars

Following their recent statement regarding ‘green office insurance’, online megasite Moneysavingexpert.com told motorists that if and when they decide to choose a car that is kinder to the planet, their wallets will not be paying the price instead. They have said that not only is the insurance of hybrid or battery-powered cars no greater than standard cars but also people will make financial savings in the long run from a whole range of other factors. These include

• Lower cost of fuel as electrical cars are much cheaper to fill up than all-petrol or diesel cars
• Lower tax as the government is implementing tax breaks for environmentally friendly vehicles
• Lower excise duty, in some cases this is scrapped all together for green cars.

This comes as welcome news to the government who are currently making great efforts to rid the roads of the most damaging cars and promote greener alternatives. It is predicted that there would be a much smaller shift towards newer, greener cars if the end cost to the driver was a large amount more than if they stuck with what they had.

Following the government’s scrappage scheme which seems to be going well, there are even talks of bringing in an insurance subsidy plan if green cars or green business vans insurance premiums do increase at all. This will help out not only individuals with their insurance costs but also vehicle-based companies who are being urged to go green but are wary about their business insurance premiums