UK insurer More Than is offering new hybrid car drivers a discount on their motor insurance and reduced premiums for existing customers.

More Than, the direct financial services arm of Royal & SunAlliance, said that the move is part of an effort to lead the green motoring crusade by being the first insurer to offer a discount to hybrid car drivers in the UK.

The insurer commissioned research into UK attitudes toward hybrid cars, which are powered by two sources, usually a petrol-electric combination. The study found that 74% of drivers are seriously concerned about the rise in petrol prices and 70% of drivers would consider switching to a hybrid car if they were cheaper to run then normal cars.

Keith Maxwell, head of motor insurance at More Than insurance, said: Green motoring is going to be a massive growth area for the car industry as petrol prices continue to rise and concern over global warming grows. We want to financially reward drivers who are taking steps to do their bit for the environment.