What is green insurance? 

Green insurers are ethical providers. They will aim to align their policies with environmental, social and governance guidelines. They will ensure that every part of the insurance supply chain is ethical and responsible (UN).

The insurance industry is big business in the UK, making investments to £1.6 trillion and employing 321,000 people in the UK (ABI). They manage total investments that make up as much as 25% of UK net worth (Naturesave Insurance). This means they have some influence through their investment.

Naturesave Insurance has been campaigning for the divestment of insurance companies. They are calling on them to reduce investment in fossil fuel industries that contribute to climate change. By choosing to buy insurance from Naturesave, you can support their campaign work.  Naturesave provides home & travel, business, charity and renewables insurance. For example, 10% of home insurance premiums go to support green projects through the Naturesave Trust.

Evergreen Insurance provides home, car and travel insurance for personal and business customers. 25% of the premium goes to their charity partners which include the Sussex Dolphin Project, the Bumblebee Conservation Trust and the Wiltshire Wildlife Trust, among others. Working with Compass Environmental Services, and backed by Aviva, they provide OilShield cover for fuel oil distribution companies. 

Arma Karma provides possessions insurance on a subscription basis. 25% of the premium goes to a charity of your choice. Arma Karma supports the Railway Children, Rainforest Trust, Shelterbox and Young Minds charities. They have planted 4,739 trees in their forest across 46 projects with Ecologi. Arma Karma is a certified B Corp with a score of 93.9 which is incredible given the average score is 50.9.

Naturesave and Arma Karma both have a score of 100 on the Good Shopping Guide list of ethical insurers. Evergreen Insurance has won the most ethical insurer in the Global Green Business Awards for two consecutive years. Aviva also makes the Good Shopping Guide list of ethical insurers with a score of 83. 

How to choose the right insurance company

Smart Choice Accountancy has five tips for those who are looking for insurance. Firstly, compare prices. Second, check the company’s credibility and FCA information. Then pay attention to experience and longevity. Check reviews of the company. Finally, ask good questions of the broker.  Ask about features, exclusions and how to make claims. 

Naturesave Insurance is authorised and regulated by the Financial Conduct Authority. Evergreen Insurance is a trading name of Surrey Independent Advisers Limited. Arma Karma is an Appointed Representative of Innovative Risk Labs Ltd. They are both authorised and regulated by the Financial Conduct Authority.

Is green insurance more expensive?

Green insurance isn’t necessarily more expensive than insurance from major providers. Arma Karma has plans that start from £1.99 a month. Naturesave Business Insurance starts from £280 per year. Evergreen Insurance takes their charity donations out of their commission, so there is no additional cost to you.

Choosing a green insurance provider provides you with peace of mind. You know that your insurance payments are not supporting fossil fuel companies. In addition, every policy that is bought contributes to green projects and planting trees. 

Please note: The information in this article is for general information purposes only and does not constitute financial advice. Always seek the advice of a financial advisor before purchasing any financial product. No warranty, whether express or implied, is given in relation to the information included in this article or the linked websites.

Annette Clubley

Annette is a keen wildlife conservationist, mindful of sustainability and our impact on the environment. Outside of work, family is her focus and she loves teaching the next generation to enjoy the outdoors.