Constructing buildings to “Green” standards is gaining in popularity. However, not understanding the additional considerations that come along with it can increase your exposure in the event of a loss. HM has the know-how to get the proper coverage in place for your Green projects.
Available for Commercial Buildings
Available for Home Construction
Special coverage associated with construction of Green Buildings and Homes
Soft Costs –
Additional Commissioning Expenses
Flush Out Expense
Loss of Earnings – to reimburse for loss of credits associated with upgraded green systems/alternative power generating equipment
Rental Value – broadens coverage to include loss of net rental income from signed leases as a result of the added delay in construction to meet green standards
What is Green Insurance?
Insurance customized to cover exposures associated with green/LEED certified buildings.
Insurance designed to cover exposures associated with green environmental practices.
Insurance available to upgrade your current building or business to green in the event of a loss on a non-LEED certified building or business.
Insurance for Builder’s Risk on Green projects.
Why do I need Green Insurance?
Traditional insurance policies do not cover or contemplate green exposures.
Can’t my current broker bring me a quote?
LEED certified projects and buildings require special underwriting and expertise.
If your broker has not offered this coverage to you thus far, why not?
Does he/she have a green insurance practice group, specializing in insuring green exposures?
Does Green Insurance cost more than traditional policies?
No – in fact there are discounts associated with going green.
What are some examples of green coverage?
Coverage for vegetated roofs.
Replace with one level above current LEED status, i.e. Gold to Platinum.
LEED AP, recertification fees and commissioning expense. Additional soft costs.
Debris Removal Recycled.
Upgrade non-green to green – i.e. restaurants with green coverage can upgrade to energy star appliances.
What Risk Management services are associated with green coverage?
Loss Control, Claims Management, LEED AP, Recertification Fees
Which insurers are offering green coverage?
Can I add an endorsement to my current policy?
Only when the underlying coverage is with a green insurer.
What is the risk if I do not purchase green coverage?
- Physical loss
- Financial loss