Going Green Reaps Insurance Rewards

September 29 - It pays to go green - especially when it comes to insurance.

That's the message that is being put out by the South African insurance industry, where consumers are ensured that if they invest in more environmentally friendly lifestyles, they will reap the rewards.

"We are working with insurance companies to offer "green" products, and encouraging the uptake of these by rewarding savings and low priced coverage to customers willing to make environmentally friendly decisions about the way they live," noted the Head of Personal Lines at Pinion Insurance Brokers, Delouise Marais.

According to Marais, insurance groups know how to identify customers who appreciate the planet.

These customers, say Marais, are usually healthier and drive their cars less - factors which could contribute towards lower insurance premiums.

"Insurance companies consider people within this bracket to be of lower risk and therefore are less likely to file a claim," she said.

"Motorists who drive hybrid vehicles in particular are viewed as low risk, so insurers are looking at offering special coverage for drivers of these vehicles going forward."

Another case in point is a deal that the insurance group has with its customers to install solar geysers once their old ones burst.

Not only is the solar geyser better on the environment, it also causes less damage should it burst, as it is positioned outside the home.

"A sense of social consciousness drives our clients and environmental sustainability has become a primary discussion point among them," said Marais

"We believe that companies who offer a green strategy and personalised green solutions for clients, are not only taking steps to combat climate change but also have a competitive advantage in the marketplace," .