7.8.2008 11:30 AM

Green Insurance for Homeowners Nationwide

Fireman's Fund Insurance Company Stimulates Green Building

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Photo: Joseph Gareri / Istock

By Brian Clark Howard

Following up on recent success with "green insurance" for commercial buildings, Fireman's Fund Insurance Company is set to launch green insurance for homeowners this summer.

According to the company, this is the first-ever green insurance available to U.S. homeowners. Fireman's Fund will offer it to those who already own green homes or who want to upgrade their residences with green features after a loss. If a home is completely destroyed, it can be rebuilt to rigorous LEED (Leadership in Environmental and Energy Design) standards.

What makes the insurance green? Qualifying structures automatically receive a 5% reduction in premiums versus standard rates. Plus, such features as green roofs, efficient plumbing and electrical systems and the costs for green recertification fees for previously certified buildings are all covered by the policy. Fireman's says its commercial plans, available since 2006, have helped motivate builders to install energy efficiency and healthy features.

The new green homeowners insurance is now approved in 26 states, with others expected to come online shortly.

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