If a home is damaged or destroyed, homeowners may want to rebuild with green materials and processes, but the additional cost can be prohibitive. Now, homeowners can obtain insurance through the Chubb Group of Insurance Cos. that will pay to rebuild using environmentally-friendly materials, low-impact processes and ultra-efficient heating and cooling technology after an insured loss.
Under Chubb’s Masterpiece GreenWise Upgrade coverage option, Chubb will pay the difference between rebuilding the house as it was and rebuilding green, up to the amount of GreenWise insurance purchased. The new upgrade option can also help customers who have homes that have already been green certified to rebuild to the most recent certification standards.
The new coverage option allows policyholders can purchase 10 percent to 100 percent of the insured value of the home, according to Chubb.