Insurance
Ways to be a G: Insurance Discounts on Green Cars
Going green isn’t just good for the environment. It’s also good for your wallet. Insurance companies are offering significant discounts for customers who drive electric, hybrid and fuel-efficient cars, as well as those who simply choose to drive less. You can get up to 10% off your premium just by buying the right new car. Drivers with "pay-as-you-drive" (PAYD) insurance policies can save a massive 50%.
Insurance companies consider green drivers more responsible than other drivers. If you own a hybrid, you can get between 5-10% off your premium by insuring with a company that specializes in green cars. Travelers and Farmers Insurance are just two of the companies offering rewards to drivers of hybrids. You can also get a similar discount if you drive an electric car.
If you can’t afford a new fuel-efficient car, you can still save a bundle by driving less. This is a great option for people living in cities with good public transportation systems, where insurance policies are already more costly. If you can’t take the bus, consider walking or cycling. It’s good for your health, as well as your bank balance.
By reducing the distance you drive, not only will you save money on gas, but also on your insurance premium. Insurance companies offer discounts for low-mileage drivers. With a "pay-as-you-drive" policy, the less you drive, the less you pay. There are over two dozen companies that offer these types of policies including Progressive, AON Corp., and GMAC Insurance. You can save as much as 50% by switching to a PAYD policy.
It’s not always easy to prioritize the environment in a recession, but by being a green driver, you can save money while you help save the planet.
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