insuring the house

Ethical insurance I required house insurance and decided I wanted to find an ethical supplier, I had never previously heard of any ethical insurers except for bicycle insurance companies, but; I knew for certain! that many of my previous insurers were just affiliations of one of the big banks, they would therefore be non-ethical, being an environmentalist, I no longer wanted to be part of these planet killers Due to climate change, there has been a dramatic worldwide increase in So-called natural disasters, this has required insurers to make huge pay-outs, the rate of which has been doubling every decade. One report in 2002 warned that more frequent natural disasters in future could bring insurers, re-insurers and banks ‘to the point of impaired viability or even insolvency’. The insurance companies usually offset their potential liabilities by trading some of the premium (like a bookie ‘off-setting’ a large bet with another bookie) with a re-insurance company. Many of these companies have now become involved in the UN Environment Programme’s Insurance Industry Initiative, which commits them to working together to address issues such as pollution reduction, efficient use of resources and climate change – or in other words to try to work out more sustainable development policies around the world. I wanted to make sure any further insurance I purchased was from one of the good guys

It used to be much simpler to search the internet for an honest answer, these days with the algorithms and search engines all being profit based, its much more difficult to find information that you can trust, I eventually found an ethical insurance comparison ranking web page, this page listed numerous amounts of insurance brands, based on the activities of these company’s they get placed in ethical order (I love an ethical comparison table): I then had to further look into the top three to see which suited my ideals most, and because I don’t trust everything I read on the internet from one site only My research showed - There are some insurers who can be regarded as ‘ethical specialists’. Naturesave for example places 10 per cent of premiums into a fund (The Naturesave Trust) which finances projects that benefit the environment. The company offers a free environmental performance review to businesses and charities to help spread awareness of sustainable development. There was also a supplier called ETA which is an insurance company owned and run by environmentalists that are committed to promoting sustainable transport. They raise awareness about how transport has an impact on our way of life and the environment. The ETA provides travel, home and bicycle insurance, as well as breakdown cover for vehicles and mobility scooters. For those seeking ethical pet insurance, (BTW)Animal Friends dedicates its profits to the care of animals and their environment (www.animalfriends.org.uk). Whilst I realise this blog is about in this case house insurance, anyone that knows me knows my feelings on animal welfare issues, I felt it worth adding that all sorts of insurance companies’ market for many things, I view the planet as my home so it seems crazy for me to buy insurance from a company who would burn it down for money! The same could be said for anyone interested in animal welfare, I’m sure an animal lover would be horrified to find their pet insurance company also financed a fish farm or rainforest destruction ETA In 2007 they received full Ethical Accreditation from The Ethical Company Organisation then took the top spot in the Insurance category in The Good Shopping Guide. For me the process was all a bit complex it would probably be much more suited to someone who doesn’t own property, but; wanted their valuables insured, I am the opposite of that, a bonus for them for me, was; Your stuff is also covered out of the home and abroad. Their policies seemed to be only doable on a monthly subscription., which is actually something I may do when for example cycling across Europe for a couple of months, as most other monthly subscriptions, might let you pay on a monthly basis, but usually they’re still annual policies and you’ll have to pay for the whole year, or pay a penalty to cancel. I decided I would make a mental note of this for future adventures

Nature save I ended up going with nature save which was only slightly more expensive, than a policy from one of the main stream companies, I bought for my mum recently, they say that when you smile even when on the phone the person at the other side can tell, this seemed to be the case when I phoned nature save, the person I spoke on the phone to had a very relaxed attitude, it was refreshing I actually burst into a laugh while chatting to the fella, saying to him how refreshing it was to speak to someone who seemed human and happy at his job By its very nature, insurance is designed to protect customers against future risk. So, why do so many providers prop up the very fossil fuel industries that are going to cause us and the planet so much harm? This is the question that inspired the launch of Naturesave Insurance, Britain’s greenest insurance provider, which has just reached an unusual milestone: giving away £1m of its income. Each year, Naturesave takes 10 per cent of the income it receives from its home and travel premiums, and puts it in a connected charity, the Naturesave Trust. The trust hit the £1m milestone earlier this year, some 25 years after it was founded – no small feat for a business that employs only 12 people. That sum equates to 13 per cent of Naturesave’s total trading income since it was founded. Through the trust, it has been donated to grassroots environmental projects across the UK via grants of between £500 and £5,000 apiece. The trust primarily funds quite small but interesting projects, such as community orchards, that often struggle to attract funding from the bigger funding bodies, I enjoyed reading about a solar beehive project. They were funding the project features thermo-solar beehives that use the power of the sun to eradicate varroa mites, which kill bees, without harming the pollinators themselves. When Naturesave Insurance was established in 1993, giving away part of a firm’s income or profits was considered radical – especially the notion that small businesses might choose to do so. It remains rare to give away such a high proportion, although there is a global trend towards companies becoming more philanthropic. The company also has one of the highest retention rates in the insurance industry: around 96 per cent. Customer loyalty is another reason to continue giving away a share of income. Many have been with Naturesave for more than 20 years. Naturesave is obviously on to something. Studies have found companies that practise ‘compassionate capitalism’ perform 10 times better than those that don’t. The founder of Naturesave is a lifelong environmentalist, and an entrepreneur. “He wanted to put right some of the wrongs he saw in the insurance industry and build something that was both ethical and sustainable, The “wrongs” include the fact that the insurance industry is the second biggest investor in fossil fuels after banks, and also underwrites and insures all new coalmines, and oil and gas exploration projects. “All that stuff we should no longer be doing can only happen with insurance. If every company refused to underwrite coalmines, then they would cease to open any new ones, The decision to give away so much has helped to shape the business, it attracts staff who share a sense that they are doing something with meaning, so you end up with people in the organisation who actually care. The same thing happens with their partners: their business and customer relationships are stronger. the approach has attracted an altruistic and ethically driven client base who are extremely loyal.” (This now includes me I am proud to say)