Aussies want greener insurance, but has enough been done?

Sixty-five per cent of Australian consumers would switch to insurers offering greener policies if given the chance, a report by data and software company Solera shows. 

Insurers in the Asia-Pacific region acknowledge this and among them around 89% are disclosing climate-related information. But even though there is awareness on both sides - consumer and insurer - there are many challenges. 

For example, many insurers don’t feel prepared to meet their climate-reporting obligations enforced by the Australian Government. 

“Our research reveals data is an obstacle to moving forward with sustainability efforts. In short, reducing your carbon emissions won’t be possible if you don’t understand them in the first place,” Solera’s executive chairwoman of the ESG committee, Jing Liao said. 

According to Solera, about 51% of insurers need better tracking and management of emissions data. 

Solera has launched a carbon tracking tool for the industry called ‘Sustainable Estimatics’ which enables such insurers to assess CO2 emissions and provide them with valuable insights for their carbon footprint reduction initiatives. 

The first step for the industry and many insurance companies might simply be to set some solid goals. Interestingly, the Insurance Council of Australia has been advocating for change. Among its goals are for the general insurance industry to reduce emissions this decade and achieve net zero no later than 2050. 

It might take some time for insurers to tackle such challenges and improve their policies further, but as consumers we have the right to choose. Start by comparing some of the top car insurance policies below.

Compare car insurance policies - rates updated daily

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  • Gold Comprehensive Car Insurance

    Monthly premiums
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    Yes Costs Extra
    Choice of repairer
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    Optional Extra
    Choice of excess
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    $550 - $1,900 (varies By State)
    Agreed or market value
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    Agreed Or Market

    Available discounts

    • No Claim Discount
    • Online Discount Up To 15%
    Details
  • Comprehensive Car Insurance

    Monthly premiums
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    Yes
    Choice of repairer
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    No
    Choice of excess
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    $800 Flat Excess Fee
    Agreed or market value
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    Agreed

    Available discounts

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    • Comprehensive Car Insurance

      Monthly premiums
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      Yes Costs Extra
      Choice of repairer
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      Optional Extra
      Choice of excess
      coins icon
      $400 - $2,500
      Agreed or market value
      Car coin icon
      Agreed Or Market

      Available discounts

      • Comprehensive Car Insurance

        Monthly premiums
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        Yes Costs Extra
        Choice of repairer
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        Optional Extra
        Choice of excess
        coins icon
        $500 - $2,200
        Agreed or market value
        Car coin icon
        Agreed Or Market

        Available discounts

        • Online Discount $100
        Details
      • Comprehensive Car Insurance

        Monthly premiums
        Calendar icon
        Yes Costs Extra
        Choice of repairer
        tools icon
        Yes, Optional Extra
        Choice of excess
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        $500 - $2,300
        Agreed or market value
        Car coin icon
        Agreed Or Market

        Available discounts

        • Online Discount $100 Off For New Online Insurance Policies.
        • $10 Monthly Kogan.com Credit For Every Month For Policy Is Active.
        Details