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Daily Insurance Industry News
Wednesday 18th of July 2018
January 4, 2010

M&S launches green home insurance reinstatement option

by Gill Montia

Story link: M&S launches green home insurance reinstatement option

M&S Home Insurance is claiming to be the UK’s first home insurance provider to offer policyholders the opportunity to reduce their impact on the environment, should they make a claim.

The company has introduced a “sustainable reinstatement” policy for kitchen appliances, meaning that when a policyholder claims for a fridge, freezer, washing machine, tumble dryer or dishwasher, they will be offered a replacement which is A rated for energy-efficiency.

According to the insurer, items replaced can potentially save up to 140 KG of CO2 each year.

Furthermore, if a property is damaged severely and warrants a total rebuild, this can be undertaken in line with the Code for Sustainable Homes, using sustainable materials and improving the energy efficiency of the property where possible.

Research from M&S indicates that 61% of Britons could be interested in the new type of cover and the firm’s head of insurance, David Wells, states: “Feedback from householders has told us that they want an insurance policy which helps reduce the environmental impact of their home in the event of a claim, and we are proud to be able to fulfil that wish in our policy.”

In other general insurance news, the Association of British Insurers has just published a Good Practice Guide aimed at price comparison websites, insurers and brokers selling general insurance online.

According to the Association, over two-thirds of customers are now using the Internet to arrange their motor insurance alone, and the guidelines should help consumers better identify the right policy for their needs.

 

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