Lots of people would like to trade in their gas-guzzling cars and vans for something a little kinder to the environment, but are concerned that it will cost them more money than they are currently forking out. 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 concerning ‘green office insurance’, online megasite Moneysavingexpert.com just put motorists minds at ease over the fears that environmentally-friendly cars cost more to run. Not only will battery powered or hybrid cars have similar insurance costs to standard cars, but they will also better the costs in a number 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.
This is good news for the government who are in the middle of a real push to get older, more harmful cars off the road and better cars onto them. It is predicted that there would be a much smaller shift towards newer, greener cars if the end cost to the driver was a large amount more than if they stuck with 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 prices 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
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