Go Green, Save Green

Looking for ways to reduce your carbon footprint and be kinder and gentler on Mother Earth? Try "going green" when the opportunity arises.

With recent incentives from a handful of major insurance companies, you'll leave the earth a better place—and pay less for insurance, too!

Insurers Going Green

Recently, some insurance companies have turned their attention to greener products, rewarding discounts and lower-priced coverage to clients willing to make environmentally conscious decisions about the way they live.

By offering greener insurance products to protect property like hybrid cars and energy-efficient homes, more and more property and casualty insurers are jumping on the bandwagon in an effort to encourage planet-saving behavior in the long-term and money-saving options now.

Many insurers, like Travelers and Allstate, reward customers who purchase hybrid vehicles or upgrade to green-certified homes with a 5 to 10 percent discount. Others offer discounts or incentives to those who use environmentally friendly building materials, equip their home with windmill-generated electricity or outfit it with solar panels.

Some even offer a type of eco-friendly upgrade that allows clients to rebuild their homes greener than before following disaster, with packages that include Energy Star appliances and sustainable materials.

According to Bankrate.com, this option is available to customers of Fireman's Fund and Farmers Insurance as an addition, or endorsement, to their regular insurance policies, at a cost of only about $20 to $25 a year more than their standard insurance policies.

Why Do They Care?

But why does your insurer care if you're concerned about the environment in the first place?

Studies show that policyholders who do their part to keep the air clean, conserve energy and use fewer natural resources also tend to drive less and be healthier, more mature and responsible—as well as less likely to file insurance claims on losses.

And, since buying and using greener products at home and on the road can cost significantly more than using standard counterparts, the type of person willing to live a green lifestyle is more willing to spend money up-front to reap a payoff over the long term.

Bottom line: Whether you're a tree-hugging environmentalist or simply an earth-loving conservationist, you're just the type of customer your insurer is looking for—and is willing to pay to retain.

Doing Your Part

Next time you purchase a car or home, think green.

Not only might you get tax breaks from the government and incentives from the dealer or lender; going green could also turn your pockets green over the life of your insurance policies!

Are You Currently Insured?