Green Buildings are not cheap to build, but in the long run, they are a terrific money-saving investment. Even then, finding an Insurance company that is willing to insure a green building project might be a bit hard because of the initial costs involved. However, that might have changed.
Fireman’s Fund Insurance Co., a company that provided coverage on green buildings as far back as 2006 has recently improved and expanded its coverage. It also has plans to pursue green educational facilities.
According to the senior director of emerging industries, Stephen Bushnell, “We’ve looked hard at green buildings and we’ve looked hard at a lot of the ways that green buildings are built…What goes into making a building green and what impact does that have on the physical risk that the building presents?”
This coverage is not just for new constructions but has been expanded to include retrofits as well.
LEED Certified Buildings
What this means is that if you have a green building and are looking for insurance coverage, Fireman’s Fund says it is offering discounted rates for LEED Certified buildings even though it requires insureds to carry a three percent increase in their limit.. Stephen Bushnell says:
Fireman’s Fund’s Green Update form allows insured’s to replace standard systems and materials with green ones after a loss, he says. Buildings can be upgraded to achieve a LEED existing-building certification, with benefits such as improved energy efficiency, water use and indoor air quality.
3M Window Film
3M Window Film will add to your LEED credits if you are seeking coverage from Fireman’s Fund. Not only do they go a long way in reducing a building’s environmental footprint, the 3M Sun Control Window Film will also make for a more comfortable environment for the building’s occupants.
* This post is not an endorsement of Fireman’s Fund Insurance Co., or any other insurance company.