Insurance
Eco friendly insurance is insurance with an environmental conscience. While still a niche market more providers than ever are offering green insurance. For the average consumer the main insurance policies which you can make green are your car and home insurance.
How does green car insurance work?
A product of driving a car is that it produces carbon dioxide from the fuel it burns. This is released into the atmosphere with other substances in the exhaust fumes. Balancing this carbon release by carbon compensating activities is difficult for an individual consumer to achieve. By taking out a green car insurance policy you are making a committment to carbon offsetting by getting the insurere to do it for you. An insurance company which offers green policies calcualtes your annual carbon foot print resulting from you driving your car based on information about your annual mileage and car model etc and then adds on additional charges to your premium which is then channelled into projects designed offset the effects of carbon accumulation in the atmosphere. The basic principle is that for every unit of carbon produced by your car the same amount will be payed for through carbon compensatory projects such as tree planting and wind energy investment. Its all about achieving a carbon equilibrium.
More Info
| Green insurance is mainly done to insure an industry or business against any sort of loss or accident. This green insurance is the insurance which is adopted by the green services, business and even the green home owners. This insurance is also similar to all the other sorts of risk management insurance services. This insurance is adopted by the people who install the solar panels for converting the solar energy into electrical energy. In case of any risk of accidents due to the solar panels and cells or the stealing of the solar panels can be easily managed by these green insurance providers. The big green resource companies like the wind mills and tidal waves mills are the main green industries which require the green insurance policies. Since the capital income for setting up and installing the wind mill and tidal mills is very high it is very essential to have insurance for these types of industries. These industries can suffer a large amount of losses if they are not having a proper insurance taken for them in case of risks like accidents or malfunction caused due to its own internal problems and even natural calamities.
The green insurance is also taken by the green car and vehicle manufacturers. The different types of industries and companies can also suffer from losses due to any kind of accidents like fire in the manufacturing plant and industries. This type of insurance is also taken by the people and workers who own the green vehicle or work in the green car manufacturing units. The people take green insurance for their own house in order to manage the risk of the house being looted or caught fire or affected by natural calamities. Thus it is always better to have a green insurance. |
