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Rebuilding a green house
07/23/2008
Innovation
Fireman's Fund Insurance has decided to provide homeowners with a new insurance product that would cover
the cost of rebuilding a home to green building standards. The green coverage
is offered as an add-on to the company's top-tier homeowners insurance package.
It would cost $25 a year to add the coverage for a home with a replacement cost
valued at $500,000 or less. Consumers who already own a home with certified as
green under standards set by the U.S. Green Building Council would be offered
a 5 percent discount off their total insurance premiums under the plan. Regarding,
homeowners whose property doesn't feature green options such as Energy Star-rated
lighting and appliances, water-saving plumbing fixtures or framing made of recycled
materials, would receive up to 10 percent of the cost to replace their home toward
making green upgrades.
How would this apply to you ? « Back to previous pagePerspective
This product innovates by encouraging homeowners to make a step in meeting the objectives of sustainable development. With this growing preoccupation, it seems important for insurers to develop new products. The green-oriented coverage plan of Fireman's Fund Insurance has the potential to encourage homeowners to rebuild their homes in a more environmentally friendly way. Following the green phenomena, it increases options for homeowners. Moreover, it transcribes new rules and advices on sustainable development such as building and using eco friendly construction techniques in actions. A new product entering the green protfolio allready launched by many banks and insurances.
