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Recent research that has been carried out by Moneysupermarket suggests that environmentally friendly drivers that opt for eco-friendly vehicle insurance policies could actually end up paying a significant amount more than with a standard vehicle insurance policy, making it increasingly difficult and expensive for driver to ‘go green’.
According to the results of the research, eco-friendly vehicle insurance policies could cost consumers over forty percent more than standard policies.
Moneysupermarket.com used eco-friendly policies from CIS and More Than insurance as examples for illustrating the difference in cost compared to a leading market provider in insurance.
According to the results of their research the eco-friendly insurance on a Ford Focus was 21% more with CIS than a standard policy with a leading provider. The research further claimed that the eco-friendly policy for hybrid card with More Than was around 44% more expensive.
A spokesperson for Moneysupermarket, Richard Mason, stated: ‘ Drivers are increasingly concerned about their impact on the environment and in an effort to 'go green' many may be tempted to opt for eco-friendly car insurance. But until insurers make green premiums more competitive, my advice is to shop around for the cheapest deal that meets your needs and give some of the money you save direct to eco-friendly causes. Not only will you have the peace of mind that your charity is receiving the money directly, but you will get value for money on your policy.’
He also added: '…I urge these companies to be more competitive – More Than for instance are in many cases very competitive for normal car insurance, so I would urge them, and all other providers, to review their premiums for eco-friendly cars. However, with the maintenance costs so high on dual fuel vehicles, I cannot see premiums dropping significantly.'
Tom Smith
27.04.07
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