Fireman’s Fund Insurance Co. has rolled out a home-insurance policy that covers the cost of rebuilding a home to green standards. The new coverage — which can only be added to Fireman’s top-tier insurance policy — covers the cost of reconstruction with sustainably harvested wood, efficient lighting and plumbing, nontoxic paints and carpeting, and more. The coverage runs an additional $70 a year for a home insured at $1 million, and can be purchased regardless of the greenness of the original dwelling, though owners of previously green-certified homes get a 5 percent discount on their premiums. Fireman’s, a division of the Allianz Group, two years ago became the first insurer to offer green coverage for commercial buildings. “Certainly with regard to green homes and in the insurance arena, this is an important leadership move,” says Michelle Moore of the U.S. Green Building Council. “It’s a bellwether to green practices in the home-building markets at large.”
