Although a large number of people are wanting to do their bit for the environment and trade their unhealthy car for a greener alternative, some fear the costs will be too high. 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 giant Moneysavingexpert.com just put motorists minds at ease over the fears that environmentally-friendly cars cost more to run. The insurance for these types of car, including electric and hybrid options, will be very closely matched to their petrol counterparts and will actually be cheaper in lots of other areas. 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.
The government are among a number of groups who have welcomed this news with open arms as one of their current initiatives is to get people to buy more fuel-efficient and less harmful automobiles. If people felt they were getting a raw deal on their insurance and that they would be more out of pocket going green, they simply wouldn’t change 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 costs 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 increases in their business insurance charges