Insurance Company Adds Eco-Friendly Coverage for Commercial Buildings

By GreenerBuildings Staff, GreenerBuildings
Published March 4, 2008

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NEW YORK, N.Y. -- a href="http://www.lexingtoninsurance.com/index.php?menu_id=1&page_id=1">Lexington Insurance Company has introduced Upgrade to Green Commercial, insurance that allows sites to be rebuilt with green construction practices.

Along with covering the costs of sustainable building practices and eco-friendly materials, the insurance covers expenses for recycling during reconstruction and at the time of loss.

The coverage applies to both LEED and non-LEED certified buildings. In the event of a total loss, LEED certified buildings will be able to upgrade to the next level of certification, and non-LEED buildings will be able to take enough green steps to meet the LEED silver standard.

For partial losses, the coverage focuses on energy, water, indoor air quality and sustainable products. Upgrade to Green coverage include Energy Star equipment, products made from renewable and sustainably-produced materials like bamboo, and paints, adhesives, coatings, furniture and other items with reduced impact on air quality.

Policyholders can also retain a LEED-accredited architect or engineer to be on hand for design or construction, and the insurance covers the registration and certification fees for LEED facilities that would need to be recertified.

Lexington introduced a similar insurance for residential buildings in November allowing damaged homes to rebuild in accordance with Energy Star Builder Option Package requirements for energy, water, lighting, appliances, ductwork, insulation and windows.