More Than launches GPS-based eco car insurance
More Than, the direct arm of Royal & Sun Alliance, has launched two new green car-insurance products.
The firm also said it will soon be offering financial incentives to home insurance customers who have taken measures to reduce their energy usage.
"By offering consumers positive environmental choices, large companies can make a tangible difference in the fight against climate change," said Bridget McIntyre, UK chief executive of Royal & SunAlliance.
"I believe it's the right thing to do. Our customers want us to take action, and our people want to work for a company that's taking its environmental responsibilities seriously."
The new green car insurance schemes
- Telematics eco-insurance:
Customers buying car insurance via the We're In This Together (http://together.com/about) website will be given a GPS telematics device for their cars. This 'smart box' will monitor how green their driving behaviour is and send them regular reports on how well they are doing and tips to help them drive more efficiently. The system will measure behaviours such as the number of short journeys taken, excessive speed, over-revving, over-acceleration, and idle time leaving the motor running.
As well as helping customers to help the environment by polluting less, the device should also save people money through lowering fuel costs and wear and tear on vehicles and tyres. According to the Energy Saving Trust, by driving in a greener way people can save an average of £120 per year in fuel costs. The new eco product will be launched as a pilot in the last quarter of this year with up to 1,000 free-of charge boxes available in 2007. If successful, More Than will look to expand the scheme in 2008.
- Eco-car discount and 3,000 mile carbon offset:
More Than was the first insurer to offer a discount of up to 15 per cent for hybrid cars. This has recently been extended to include all eco-cars such as hybrids, electric and alternative fuel vehicles like liquefied petroleum gas cars.
More Than is also encouraging drivers of non-eco cars to make a green choice as well. From May this year, customers buying More Than car insurance via the We're In This Together website will be given the opportunity to offset their carbon emissions using an online tool. More Than will pay for the first 3,000 miles of each customer's carbon offsetting.
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