There have been immense advancements that have been made in motor vehicle technology and there is now more focus in being environmental friendly, and there have been cars that have been rolled out to consumers who want to make a difference and go on more effective fuel options.
If you own one of these hybrid vehicles, then there is a special provision for the insurance of these vehicles, and it is called the Green Car Insurance Plan.
This insurance plan has been especially designed for those who are conscious of the rising pollution levels due to vehicles and have made a commitment to help in the reduction of this pollution by opting for services and vehicles that are pollution free. In this case the insurance premium amount that will be calculated will have a special provision to keep it in line with the normal vehicular insurance premiums.
The new technology is expensive and hence the insurance premium ought to be higher, but because it is as per a larger commitment to save the planet, the insurance companies will consider a lower premium amount which is at par with the normal motor insurance policies.
Even the loan of such vehicles is subjected to revision in terms of the return of interest. The other factors however remain the same. The average annual mileage is taken into account when deciding on the insurance premium amount. This is a crucial factor in determining the premium amount of the Green Car Insurance plan. The higher the mileage, the more the premium amount shoots up. The lesser the mileage, the lesser is the risk of the vehicle running into repair problems or traffic incidents that will result in the damage of this car. This means that the chances of the claim are higher and hence the premium amount of the Green Car Insurance too.