Carbon trading enters home insurance market

by Gill Montia

Story link: Carbon trading enters home insurance market

RK Shipman, the Exeter-based broker, is selling a new kind of home insurance policy that will offset the carbon emission of the policyholder’s household.

HomECOver is believed to be the first policy of its kind in the UK and is underwritten by several leading insurers.

Under the policy terms, up to 100% of the carbon emitted by the average UK household can be offset. (Average emissions amount to six tonnes in a year.)

Previously such green policies have been associated with motor and travel insurance and HomECOver is believed to be the first household insurance to promote carbon trading in the competitive household insurance market.

According to RK Shipman, the policy also offers truly comprehensive cover at highly competitive rates and should be considered by those who have already made energy efficient home improvements.

These include items such as loft insulation, solar energy panels, cavity wall insulation and small home wind turbines.

Householders with such installations can expect to save up to 10% on their HomECOver insurance premium.

RK Shipman believes that the policy offers suitable cover for most homes, including listed buildings.

Any changes made to the property that are beneficial to the environment will be reflected in the premium, and quotations can be obtained online.