It looks like the nation’s first provider of green insurance coverage for the commercial sector has decided to expand that coverage into the residential sector. Fireman’s Fund Insurance Company will be offering green coverage to homeowners who either own a green home or who want to upgrade their home with green features in the event of a loss. So in a loss situation, the homeowners can rebuild their home and have it certified under the LEED system.
Homeowners with green homes will be offered a five percent discount on their insurance premium. In addition, homeowners will be able to rebuild and replace as follows:
- Energy Star®-rated appliances, lighting, electronic equipment and roofing / insulation
- An Energy Star upgrade of heating, ventilation and air-conditioning systems
- Forest Stewardship Council certified wood for millwork, ceilings, siding and framing, including bamboo flooring
- Non-toxic, low odor paints and carpeting
- Water-saving plumbing fixtures
- Elimination of ozone-depleting refrigerants and fire extinguishing agents, replaced with environmentally friendly alternatives
- Debris removed after damage to a home will be recycled and diverted from landfill
The Fireman’s Fund’s green coverage is currently available in 26 states, with the remaining states expected to be part of the program by the end of the year.
This news is good news, as was news of their green coverage for commercial properties. It’s always nice to save some coin, but it’s even nicer to save coin by building green.