CIS: Green car insurance still a niche market

Green car insurance is still in its infancy and is a relatively niche market, according to one insurance provider.

However, Co-operative Insurance (CIS) believes that it is becoming increasingly popular as more and more consumers begin to think in environmentally-friendly terms.

A spokesman said that since the launch of the company’s first eco-car insurance product last year, uptake has increased steadily as customers become more educated regarding the impact of their vehicle on the environment.

“There are more and more consumers now switching on to green forms of consumerism and I think financial services is one of those areas,” he said.

He explained that the CIS product is green both in terms of being carbon neutral and in offering a discount for more environmentally-friendly cars, such as those that run off hybrid fuel.

The first six months of this year saw sales of hybrid cars in the EU increase by 25 per cent compared to the first six months of last year, according to Greencarsite.co.uk.

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