New Insurance For Eco-Friendly

A UK insurer is the first to offer consumers an environmentally-friendly motor insurance product, as new research reveals 82 per cent of consumers would opt to buy products just to help the environment.

Ethical consumerism accounts for £3.4 billion of spending a year and 54 per cent of consumers opt for eco-friendly product if there is no difference in cost, according to research by Co-operative Insurance (CIS).

The company is the first to offer motor insurance with environmentally-friendly features such as offsetting 20 per cent of CO2 emissions for every vehicle insured under the eco motor insurance product through funding environmental projects.

The policy will also offer premium discounts for greener cars and an environmentally-backed claims service.

"Whilst many people accept that motoring is a necessary means of transport, many motorists now recognise the environmental impact that driving a car has on climate change," said David Neave, director of General Insurance at CIS.

"The introduction of our Eco motor insurance product does not just help to offset the carbon emissions at the outset, it continues to contribute toward managing the environmental impact throughout the entire journey."