Green Insurance Options and Endorsements for Your Business

Going green has proven to be not just environmentally friendly but profitable for some businesses as well. Given the lower cost of energy, some applicable tax credits and even some lower operating costs, going green is the right move for many businesses. If you have a green business or you’re considering going green, there are additional green insurance options and endorsements available. Let’s take a look.

Traditional commercial property insurance will often replace the original construction and contents of a building, subject to policy limits. This, however, will not account for green improvements except in the newest buildings, which may have green elements incorporated into their original designs. Many policies will require what are called green endorsements on the policies to cover the cost of making any replacements environmentally friendly.

These green endorsements cover two primary issues regarding the property. The first is green materials and equipment that may be needed, such as solar panels, wall and floor materials, and other equipment. In some cases, even if the property was not originally a green property, the green endorsement may allow you to rebuild with better green materials or equipment. Another portion of the green endorsement covers green design, engineering and other design elements that may have specialized costs.

Going green may also be able to save your business insurance costs through a lower carbon footprint or other cost savings. If you have a green business or you want to go green, call or email us today, and we can look at your options. We are ready to answer any questions you may have so you can get the right coverage.