It was inevitable that as consumers and businesses begin thinking seriously about the green alternatives available to them, that insurance products would soon follow suit to provide coverage AND credits to those making the transition.  Insurers have long provided discounts for those that drive less, but it was determined on an accident bases versus consuming less fuel and putting less carbon into the skies.  But now companies are offering greater discounts for driving under 15,000 miles a year specifically because it IS greener.   These discounts tend to be geographically limited, and some require the use of a GPS type device to verify mileage, but  the trend is growing.

One of our major companies, Travelers Insurance, provides discounts up to 10% for insuring a Hybrid vehicle.  Underwriting suggests there is a behavioral link between individuals that are green and those that do what’s necessary to reduce the risk of accidents.  This includes driving less and maintaining the speed limit.  Other companies provide discounts for going paperless.

On the property side of insurance there are companies providing insurance to help you rebuild green in the event of an unfortunate loss.  Selective Insurance is offering an endorsement to their commercial policies called the GreenPac that provides:

• Replacement or repair of property with its green or sustainable equivalent.
• Miscellaneous fees and expenses unique to green buildings.
• A 30-day increase in the restoration period if there are delays in obtaining green construction materials, equipment or furniture.
• Excess of Ordinance or Law Coverage, if the building code requires green construction.

So the next time you are talking with your Independent Insurance agent, ask them what green options are available with their companies!