Naturesave Home Insurance Review

Posted: 08 February 2008 by Jenny Rhodes

Although all sorts of eco car insurance products have launched lately, the tumbleweed is still blowing through the green home insurance market. Totnes-based Naturesave Policies is one of the few companies really offering anything different to the mainstream.

Launched in 1993, Naturesave is a small business that provides insurance underwritten by Lloyds of London. It uses its position as an insurer to raise awareness of pollution, environmental damage and climate change in the business community.

Commercial clients receive financial assistance with carbon offsetting and a free environmental performance review of the businesses trading activities. In addition, ten per cent of personal insurance premiums are donated to the Naturesave Trust, which funds environmental and conservation organisation projects such as the Barn Owl Trust, Fareshare and Sundance Renewables.

Naturesave's home insurance product is pretty standard otherwise. Its policy is accepted by banks and building societies and it covers buildings, contents, pictures, jewellery, personal effects, bicycles, cash and credit cards. As with other providers, you can pay by direct debit if needed. For the lucky few with their dream home, the policy will also cover eco homes of non-standard construction.

If you are a dedicated rate tart and obtaining the cheapest possible home insurance is your priority, Naturesave won't be for you. A like-for-like quote for a home and contents cover for a three-bedroom semi-detached house in the North of England on comparison website Confused.com provided 18 alternative quotes, 16 of which provided premium discounts on Naturesave's rates, with the discount varying between £23 and £181 -- the average discount being about £80 on Naturesave's annual premium.

It's worth remembering while obtaining quotes that significant discounts are often available to new customers and unless you are prepared to move providers every year, the discounts may not be as significant in the future.

However, Naturesave really benefits from being a small company. You won't find yourself dealing with overseas call centres or premium rate lines, and you have the reassurance of personal service in the event of a claim. Cheap insurance can be a false economy -- when you make a claim, good customer service is essential.

There are few green alternatives out there. The Environmental Transport Association also offers home insurance underwritten by Lloyds. Of the mainstream, Co-operative Insurance is rated as having an effective ethical engagement policy, but again, isn't one of the cheapest on the market. There's also Ecclesiastical, which doesn't have the best ethical engagement policy despite having roots in the church. It's owned by a charity, the Allchurches Trust, which primarily donates to the Anglican church.

If you want to support a small business dedicated to creating change in the insurance industry, then Naturesave is for you. If your pockets aren't so deep you may want to consider a cheaper policy and a resolution to donate to environmental projects yourself.