Green Insurance

Now here’s a new idea in insurance. A select few companies are starting to market "green" insurance!

In reading Joel Bittle’s blog The Next Green Thing: Green Insurance , we were interested to hear that insurers have a new idea to help the environment.

Mr Bittle reports that Green coverage is a new element of residential insurance. Some insurance policies have “… the option for owners of non-green commercial buildings and homes. For a small cost of about $70 a year per $1 million insured, the owner of a non-green home can make sure that home is rebuilt to LEED Silver certification standards in the event of a total loss.”

What a great idea! Older homes destroyed and being rebuilt through insurance can be rebuilt to the highest environment standard.

We’ll be watching for this product to reach Canada and will report back as it does.

Note: Keep in mind that insurance licensing, legislation, and policies often vary by province and most certainly by country. Canada Insurance Source is a free information source. So use this site to gain a general understanding of insurance with your own area and situation in mind. This insurance information is general in nature and the policy wordings always take precedence. It is possible that there are errors and omissions in this website and, or its authors, take no responsibility. Make sure you review the "please read" page.

Canada Insurance Source

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