By: Edward L. Blais, JD, CIC
Every year on Earth Day, many take to their neighborhood parks or back yards to clean up trash, rake away debris and freshen up mulch. While “going green” for your neighborhood is an excellent way to show your eco-friendliness, applying the same practices to your home can help the environment, and could also save you money on your home insurance.
Every year on Earth Day, many take to their neighborhood parks or back yards to clean up trash, rake away debris and freshen up mulch. While “going green” for your neighborhood is an excellent way to show your eco-friendliness, applying the same practices to your home can help the environment, and could also save you money on your home insurance.
In order for a home to receive insurance discounts
for energy efficiency, it must comply with the standards of either Green Globe
or Leadership in Energy & Environment Design (LEED). Most insurers use LEED
standards to define green certification, and LEED ratings range from certified
to silver, gold and platinum. Homes are rated on energy-efficiency, water
efficiency, indoor air quality, environmentally sensitive site development,
recycled and reclaimed building materials and other sustainable features.
Due to the increasing
number of federal and state incentives available to build green homes, more
insurers have been offering green home insurance coverage options. For example,
Travelers insurance offers up to five percent savings on premiums to homeowners
already certified by the LEED rating system. Additionally, for homeowners
repairing, replacing or rebuilding with green materials after a loss, some
insurance carriers reimburse you for using sustainable materials such as
bamboo, energy-efficient appliances and paints made from zero volatile organic
compound (VOC).
Unfortunately, not all
states offer insurance discounts for green-certified homes, so be sure to check
with your independent insurance agent to see if you qualify for either an
insurance discount, or reimbursement for rebuilding with sustainable materials.
For more information on green-certified insurance discounts or reimbursements,
please contact Blais Insurance at 401-725-0070.
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