We asked our community what they think when it comes to insurance and climate change!
With the impacts of climate change becoming more and more prevalent across the globe, many of us are insuring our homes and cars for fires, flooding or other extreme weather events.
Just like our banks and super funds, many of our insurance companies are investing in industries that are driving climate change, including the fossil fuel industry. Which means if we're supporting insurance companies that contribute to carbon emissions and are driving climate change we are not properly insuring our future.
Insurers have warned that the impacts of climate change could make insurance cover for people unaffordable. To prevent these rising costs, we need to do everything we can to mitigate climate change and part of this is choosing insurance firms that rule out funding the fossil fuel industries.
Moving our money away from fossil fuels is one of the most powerful actions we can take to help the planet. Rising climate impacts are causing increased risks to our health, our homes and many other aspects of our lives. If we support insurance companies that are contributing to these rising risks, we're not insuring ourselves adequately and we are only increasing these risks further.
We conducted a survey with over 1,000 women to find out what they think about insurance and climate change.
Here are the key insights from the survey…
Most people responded that they had never actually looked into whether their insurance company invests in fossil fuels or not. This could be because a lot of people don't actually know to look into this… until now! If you've just learnt about how your insurance company could be investing in fossil fuels, it'll be hard to not think about it next time you're getting insurance.
With the effects of climate change already affecting livelihoods all over the world and threatening homes and other assets, most of our survey respondents feel that having their home and car insured is more important than before.
To insure our future, we want to support insurance companies that are safeguarding our future instead of those that are contributing to climate damage. Check out Market forces for help on whether your insurance provider is investing in fossil fuels. Plus, if you're in Australia, Huddle is an insurance company that doesn't invest in fossil fuels and is on a mission to make insurance better for everyone!
If you're thinking of switching insurance companies, make sure you tell your current insurance company why you're leaving them! We need all insurance companies, banks and super funds to know that we won't accept them investing in fossil fuels and in the end, the customer is always right!