Good news for anyone going green: your earth-saving efforts not only protect the environment but can also lead to some serious savings, and not just in reduced energy costs but also in reduced insurance costs. Did know that you could save on your insurance bills by going green? The insurance experts at the Equifax Finance blog explain how in their recent article, “Insurance Discounts Available for Consumers Who Go Green.”
The car or boat you drive – some insurance companies offer discounts of up to 10 percent for those who choose to drive a hybrid vehicle. For the fortunate folks who own boats or yachts, similar discounts are available. If your vehicle runs on alternative fuel like biodiesel, electricity, natural gas, hydrogen, or ethanol, you could also be eligible for discounts. For those who choose to help protect the environment by walking, biking or using public transportation (and actually driving very little), you may also get rewarded by your insurance company. Some insurance companies offer discounts to drivers who decrease their mileage.
The house you live in – some insurers offer perks for green building, including premium discounts for homes that are built to certain efficiency and sustainability standards, like LEED certified homes. Some insurers also offer incentives for homeowners who replace old appliances with more energy efficient ones. And if you run on geothermal, solar or wind power and have a power outage? There are policies out there that cover your costs during and in order to get your power back up and running.
How you pay – many insurers pass on savings to customers who go paperless. All those paper bills and envelopes and stamps add up, so customers who pay electronically are oftentimes rewarded for doing so.
Get more information on getting the most of your insurance on the Equifax Finance blog, where you can also find loads of helpful articles on other personal finance topics, like retirement, taxes, credit ratings, insurance, identity theft protection and more.