The deepening recession in the UK has meant that the climate change debate has, to some extent, been kept off the front pages of newspapers and played second fiddle. However, all that could be about to change with revelations from the latest research that the Polar ice caps are melting faster than previously thought.
What has all this got to do with car insurance quotes? Some insurers, including Co-op Car Insurance and the Green car insurance company, are pledging to fight climate change through carbon offsetting schemes. Such schemes are an attempt by both insurers to reduce their policyholders’ carbon dioxide emissions through the funding of projects such as rainforest regeneration, renewable energies and energy efficiency. The Co-op for example, claim to offset 20% of a policyholder’s car CO2 emissions at no extra cost based upon the stated mileage at the time of the car insurance quotation.
For those motorists who are passionate about green issues and climate change, these types of car insurance products will be of great interest and with a growing market of consumer opinion, both aforementioned insurers could benefit. In times of recession however, competitive pricing of car insurance and most other products is paramount, simply because disposable income is less and consumers generally shop around even more. It remains to be seen, therefore, how successful insurers with carbon offsetting schemes will actuslly perform.
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