Tuesday, May 26, 2009

Environmental conscious lifestyle get rewarded by Insurance companies

A new trend among insurance companies is to set themselves apart as environment responsible by embracing or developing many projects and programs designed to take into account and lessen whenever possible, the impact of human activities on the environment.
In that spirit, many Insurance companies have begun to offer lower premiums on car, homeowner and property insurance for people who drive less, own hybrid cars or build greener homes.
For car owners, a new product called PAYD or pay as you drive in which they opt to drive less than the average driver, allow them to save on their premiums. Progressive Corp is one of the Insurers that offer that option. Others Insurance companies like Travelers Co and Farmers Insurance offer discount between 5% to 10% on premiums for driving a hybrid vehicle.
When it comes to green buildings, some Insurance companies offer up to 10% discount on homes' annual premiums for owners of LEED -or Leadership in Energy and Environmental Design- certified homes.

For more, see WSJ.com

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