Your home insurance premiums can be lowered with environmentally friendly changes in your home environment. All ways to reduce monthly costs are valuable, and it’s worth considering whether changes can help you save. Some of the incentives offered by several insurance providers include:
LEED Certification for a Home: LEED, or “Leadership in Energy in and Environmental Design,” is a green building rating that most people think is for commercial, industrial, or educational facilities. However, implementing these standards when building or renovating a home can help significantly reduce energy costs and can get you a discount on your home insurance. If you’re looking for a home insurance company that offers these discounts, talk to one of our local agents.
- Environmentally friendly material replacements: When a home requires work, replacing existing materials with durable materials and products can enable endorsements on your homeowner’s insurance. Installing Energy Star appliances can benefit homeowners by lowering energy costs and earning an energy efficiency rating issued by the EPA and Department of Energy.
- Solar energy and geothermal energy: Homeowners who have invested in solar or geothermal energy sources, or supply excess energy to the grid, not only enjoy dramatically reduced energy bills, but can cover the cost of electrical inspections and reconnection costs.
- Paperless discounts: If you choose to go ‘paperless’ you can expect many home insurance providers to offer a discount. All bills and policy information are sent to you electronically, no paper involved.
- Technology for smart homes: When a home is equipped with “smart” technology, including home monitoring systems, a homeowner may be eligible for a discount on home insurance.
How to secure home insurance discounts?
To receive the benefits of lower monthly premiums, you must provide the home insurance company with documentation, such as the LEED certification document. If you have installed Energy Star appliances in your home, you still need to achieve LEED certification, which may require some additional home modifications. When the standards for LEED certification are met, a 5% discount is available from several homeowner’s insurance providers.
Green home discounts
Some insurance companies offer a “green home” discount. If your home is damaged by fire, for example, home insurance pays to replace damaged appliances with Energy Star appliances, VOC-free material replacements and pay for the cost of trash recycling.
Homeowners can also enjoy discounts for owning multiple types of insurance through one provider, for never filing a claim, for first-time home buyer discounts or when building a home, using contractors that a specific insurance company has approved, or an “accredited builder discount.” Other rebates may be offered for installing home safety devices, such as smoke detectors, sprinkler systems, or home security systems to make a home safer and less prone to loss. Installing impact-resistant glass may provide a rebate. Certain types of roof installations that are better suited to withstand severe weather events may give a discount on premiums.
Choosing the right home insurance company
As a homeowner, you deserve to receive every possible discount or enhanced coverage available. If you’re looking for more affordable home insurance with better coverage, we invite you to speak with one of our local agents about the programs now on the market. New options are offered every year, including discounts for eco-friendly homes.