Car Insurance News

Green car insurance 'may be more expensive' - 16/01/2008

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Companies that provide environmentally-friendly products, including car insurance and domestic energy, often charge more for their products, it has been claimed.

According to finance portal Fair Investment Company, this is necessary because the firms need to cover the original cost of the products.

However, James Caldwell, director of Fair Investment Company, said it is still possible to find competitive deals on such products. Indeed, the company has indicated that both ethical and green financial products are getting increasingly popular.

Commenting further, he added: "There are environmental gains to be made with ethical investment products, for socially responsible investors who wish to avoid companies that have a negative impact on the environment, or those who see the opportunity for growth in companies which practice ethical investment management or stand to benefit from developments in this area."

Last week, Norwich Union stated that its pay-as-you-drive car insurance scheme has proved "very popular" since its introduction around a year ago. The initiative allows people who only drive around 8,000 miles each year to benefit from lower car insurance fees.

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