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Insurance Cont. If a building owner has installed solar panels and used recycled building materials, for instance, most standard insurance policies will not pay the extra cost to ensure that the building is restored to its original “green” status. They will normally pay for standard costs, which usually include lower-priced, non-green products. In another case, a building owner may currently have a non-green building, but wants to upgrade the building to the LEED standards in the event that there is an insurance claim that requires reconstruction. Both of these cases are examples of uses for “Green Insurance.” The policy would rebuild both buildings to current LEED standards. Our links will take you to more detailed information and sources for these policies. Just imagine the future with the LEED standards being applied to all new construction. With the use of these insurance methods, replacement buildings will also be “green.” America is definitely headed toward conservation of our natural resources and protecting the environment—this is another positive step in that direction!
With over 65 years of business insurance experience. Irwin Union Bank offers customized plans for your business.
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