Green insurance on offer from M&S

High Street giant Mars & Spencer has branched out into a number of different areas over the years, including financial services and insurance. It has been reported recently that those thinking of taking out cover with M&S insurance services will be able to do their bit for the environment as the retail giant is now offering green insurance cover.

The insurance cover, which is provided through M&S Money, means that policyholders will be able to reduce their carbon footprint in the event that they have to make a claim.

According to reports M&S will no longer be replacing white goods such as fridges and washing machines on a like for like basis as it did in the past. Instead it will be replacing these items with energy efficient models that have an energy efficiency rating of at least an A. This means that those that are successful in making a claim for goods such as these will be able to benefit from appliances that are energy saving, allowing the policyholder to help the environment and save money on their own energy bills in the future.

M&S Money will also be extending its green policies in other areas of insurance. For example, where rebuilding work is needed following damage the company will be ensuring that the work is done in adherence with the highest environmental standards. All policies currently being sold through M&S Money will include these green benefits, and they will apply to renewals from the start of next month.

A spokesperson from M&S Money said: ‘We have a strong commitment on ethical issues and our research among customers shows that they are keen for us to be helping them take positive steps to reduce their emissions.’ It is also thought that those that care for the environment tend to be low risk customer for insurance companies, and one official said: ‘People who are interested in environmental issues tend to be intelligent and altruistic individuals. They think about others and expect to be treated the way they would treat others. They are not going to submit fake claims for stolen laptops they never owned.’

Tags: Mars & Spencer, energy efficiency rating, M&S Money, Financial services, energy saving, Types of insurance