Green car insurance market 'looking to expand'

Posted :21-09-2007

The market for environmentally-aware car insurance is presently a "niche" one, but is expected to expand, according to Co-operative Insurance.

Duncan Bowker from the insurer stated that there are an increasing number of customers becoming aware of ecologically-friendly consumerism, including in financial services.

He added that take-up of green car insurance for Co-operative Insurance had been "very positive" and had not been limited to one particular age group as the product had been adopted by consumers from across various demographics.

Mr Bowker concluded by stating that car manufacturers and insurance firms should work together to ensure that consumers can both buy and insure a car in the knowledge that they are helping the environment and also save money.

According to GreenCarSite, sales of hybrid cars in the EU in the first half of this year increased by 25 per cent on the same period in 2006 and some 15 per cent of all new registered cars were low-emission vehicles.


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