In over half of states, you can add a "green insurance" rider to homeowners' plans. These riders pay out extra cash. If the house is destroyed, or if homeowners' insurance pays out for other reasons, then the green rider pays additional to make eco-friendly upgrades. Article source: Doing the math on green insurance Basic environmentally friendly insurance information Green insurance can be added to an existing residence insurance policy. It is a quick add-on typically. The homeowners' insurance cost will increase. The rider pays additional costs to repair things in a “green” way if there is any type of damage done to your residence. There are several things included in this. Anything will be built in a LEED-certified manner while building materials will be recycled. What is the extra cost? The typical single-family house will pay between an additional $25 a year to $50 a month for eco-friendly insurance. The likelihood that a homeowner will actually have to use the insurance is relatively low, which means that the likelihood that a green insurance rider will get used is even lower. It can effortlessly cost thousands of dollars to pay for the eco-friendly insurance upgrades too. Make sure you check the basic math, even though you are the only person who can figure out what is best. The coverage, for 30 years, would cost $750 if it only adds $25 a year. That means that the coverage would price an extra $750. Good for saving money Getting environmentally friendly insurance riders means anything will be rebuilt with environmentally friendly updates. That might save you on green updates. Other environmentally friendly updates to your house can save you cash in the long run. Environmentally friendly upgrades to your house or automobile can actually reduce the cost of insurance. If you make any large upgrades to your house, check with your insurance agent to see if those upgrades will reduce your insurance price. The same goes for automobile owners, as several insurance corporations have found that hybrid vehicle owners are less likely to be involved in dangerous driving habits than the standard population.
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