Going Green Can Save You Green on Insurance
Going green can help you save green on insurance. Some insurance companies now offer lower premiums on car, homeowner, and property insurance if you drive less or buy an environmentally friendly car or home.
Whether its Earth day, or any day, Jeff Plunkett at Dave Edwards Toyota says more people are buying hybrid cars that switch between gas and electric power. Said Plunkett, “A lot of interest in they hybrids, in fact we’re off to one our best starts with the Camry Hybrid and the Prius.”
You can not only save money on gas and get some tax breaks, but now you may get an insurance break, too. The Wall Street Journal reports some insurance companies, like Travelers and Farmers, have reduced their rates by 5% to 10% for customers who buy environmentally friendly cars, believing they can be more responsible drivers.
Said Punkett, “We have noticed that in the last several months, several customers said its quite a bit of savings.”
Some companies, like Progressive and GMAC Insurance, offer a Pay As You Drive program. A device in your car, like a GPS device, keeps track of your driving. The safer you drive, and the less you drive, the lower your premium.
GMAC Insurance offers up to 54% savings to drivers in South Carolina with Onstar, depending on how much less you drive. Progressive says it saves drivers up to 25% in nine states, but it’s not in South Carolina yet.
And the Wall Street Journal says two dozen insurance companies offer discounts on homes that have LEED or Energy Star certifications because energy efficient homes and appliances are used less and considered safer. Not all insurance companies offer green discounts in all states. If your thinking of buying a green car or home, ask your insurance agent if they offer green discounts. Be sure to shop around for the best rate.
Said Plunkett, “The more people can save today the better.”
Going green can help ensure a healthier planet, and may help ensure you have a healthier budget.
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