By James D Gale
Green insurance is becoming more common every day and can save you money. In fact, your current insurer may offer this type of policy and you just don't know it. This type of insurance covers many categories. You may be eligible for a discount if you live in an environmentally friendly house or drive a hybrid car. Business and home owners
may also have the option of rebuilding after a loss using only green products, plus being able to recycle the debris from your current home. Check with your insurance company today to see what products and services they offer that may be of benefit to you.
When you choose to purchase this type of policy, you may be eligible to receive a discount of up to 10%. Some companies choose to offer green incentives to anyone who chooses to replace traditional bills with paperless ones. Others offer policies which allow you to build a green home after a loss. Although the cost of this policy is slightly more than a traditional one, in the event of a loss, you will recoup these savings in your energy bills. The cost is minimal also as it may be as little as $25 a year. It is easy to see why people are making the switch from conventional insurance to this type.
Many companies are now offering green insurance policies. The first place you should look is your current insurer. Call your agent and ask if they have anything that qualifies as this type of plan. If they do not, try companies such as Travelers, Fireman's Fund or Allstate. Other companies that currently have this type of plan available include AIG/Lexington Insurance Company, Chubb and Zurich. Be sure to compare plans and premiums between the various companies to ensure you are getting exactly what you want.
Different types of green policies are offered. Be sure to inquire about home, car and business insurance. You may also be able to get a bicycle policy if you use your bicycle to commute to and from work and drive very few miles as a result. The most common types are auto and home, but it never hurts to ask about others. You may be surprised to find what you can cover under this type of plan while still saving on your bill.
When insuring a home that is not green, you can get a green insurance rider that will rebuild the home green. Paying more than 5% extra for an insurance rider is likely not worth the extra cost; however, considering how inexpensive home insurance is (typically 2% of the home's cost), another 5% for a $300k insurance policy would only be $30/year and could be well worth the cost.
Many insurers are acknowledging actuarial data showing lower payouts on green homes or homes that have been upgraded with green features. This is a step in the right direction.
James Gale writes about green insurance at http://www.greeninsurancereviews.com, which provides comparisons of green insurance products for homes, cars and bicycles for consumers looking to save money and go green. Article Source: http://EzineArticles.com/?expert=James_D_Gale |