Written by Michael Foote, Insurance and Finance ExpertMichael Foote is the founder of Quote Goat and has over 13 years experience working in the finance, insurance and currency sectors. Since launching Quote Goat he has appeared on TV as well as many of the largest online publications including Forbes, The Telegraph and The Metro. Prior to Quote Goat, he worked in finance in the city for a number of firms including HSBC.
When Ford released its new, low emission Ecoboost engine, it understandably got drivers excited. The manufacturer is one of the first to focus on lowering carbon emissions, without compromising power.
The question is, will this new Ecoboost engine really help to keep insurance costs down?
What is the Ecoboost engine?
The Ecoboost engine is just the start of Ford’s mission to make its fleet of cars more sustainable.
What’s most impressive about the Ecoboost range is that it delivers better fuel economy, without compromising on power. With the majority of eco-friendly cars, power is often compromised to keep costs down. So, what kind of performance can you expect from Ecoboost engines? Well, take the FG Falcon MKII’s Ecoboost engine for example. It offers the power of a six-cylinder engine despite only being kitted with a four-cylinder engine.
It largely works through direct fuel injections and other impressive technology such as turbocharging and variable valve timing. It’s this technology which allows the engines to work more efficiently, without sacrificing that all important power.
How can it save you money?
The main cost savings you’ll benefit from with the Ecoboost engines, is long-term fuel costs. As a driver, you already know that the price of fuel appears to continuously increase year-upon-year. The costs of running a car can be extremely high, and for many they struggle to afford the increasing financial pressure of keeping their car on the road.
As well as the long-term fuel cost savings, you’ll also discover Ford vehicles that are fitted with Ecoboost engines are typically cheaper to buy too. You only have to take a look at the prices offered by top companies such as AA Cars, to see that there’s some excellent deals to be had.
So, what about car insurance? Well, it all depends upon the insurer you go with as to how much money you could save. However, generally speaking, you’ll tend to see more cost savings when taxing the vehicle, than you will with insurance. After all, there are many factors that affect how much you pay on your insurance. As the Ecoboost engines do provide more power, they’re often fitted into smaller cars. So, if you currently own a larger, more powerful vehicle, switching to a smaller Ecoboost model will save you money on insurance.
Overall, Ecoboost models do save you money, both in the short and the long-term. Ford is constantly looking to lower its impact on the environment so we’re also likely to see many more Ecoboost models released in the not too distant future.