If you’re a homeowner, but also are concerned about this giant ball of rock we orbit the sun on, you may well have looked into green home insurance before now – after all, it’s a great way of not only looking after your home but also looking after the planet on which we live. On the other hand, you might not even know it exists (Green home insurance is still somewhat of a niche product, despite the best efforts of both insurance companies and the ecologically aware. So, what can you do to try and make your home insurance a little greener? A couple of different things, as it happens; and this post will attempt to explain them below:
Conventional Green Home Cover
Many ‘mainstream’ home insurers offer green incentives nowadays: Whether that is making your home more energy efficient (By better insulating your loft and walls, perhaps, or installing solar panels to lessen the load on those coal-powered power stations). These same companies may offer discounts or bonuses to homeowners who install green appliances and items after an insured event.
There are green home insurance companies who say that they can also offer better home insurance to the home-owning eco-warrior as they are less likely to claim. For example, an eco-friendly person is less likely to smoke, which reduces the chances of a house fire greatly.
Carbon Neutral Insurance
Carbon (Or climate) neutral cover is a little more of a niche product, offered as it by only a handful of insurers currently. What this type of cover allows you to do is offset your home’s emissions (Around six tonnes per year). This allows your insurer to use the extra income to offer financial stimulus to green projects such as restoring forests, developing renewable energy and the like.
You should always remember however, that green insurance can be more expensive than its less eco-aware cousin – in fact it is likely to cost more. Carbon neutral schemes, for example, rely on you paying extra to offset your home’s emissions, and may use more expensive materials and services when performing repairs to your property in order to maintain their carbon neutral status. However, this extra cost can be nullified by extra green incentives added to the policy as previously mentioned, which will not only make your home more eco-friendly, but also save you money on heating and electricity bills.
Also to be considered is the amount of cover offered: A cheaper policy will almost always offer lower levels of cover than a more expensive one – look out for things like personal items cover and high value item cover – protecting items you might take out of the home and expensive items (such as computers) respectively. It is also worth making your home more secure, if possible: fitting Yale locks, an alarm system and double glazing are all good starts to saving money and also keeping undesirables out of your eco-friendly pile.