It’s hard to pick up a magazine these days without reading about the importance of “going green.” We see it in public interest stories, government stimulus programs, and building requirements for the use of renewable products and energy-efficient equipment.

Many business owners are actively involved in green initiatives and practice sustainability in their operations. This may include upgrading to more energy-efficient equipment, stricter recycling programs, resource conservation, improving building efficiencies and more. In addition to the environmental impact, these efforts can increase bottom-line revenue and enhance employee morale and contribution.

The environmental and financial rewards of improving energy conservation and sustainability make it worth a business owner’s time to make sure their insurance coverage includes a green endorsement. At Society, we have always been committed to developing innovative insurance programs. And now, we provide a green endorsement at no additional cost. This enables businesses to rebuild using green alternatives after a loss – even if the green repair costs are more than the original equipment or material.

Business owners should look for these green endorsement coverage highlights:

  • Recycle_GreenRepair or replacement of damaged covered property with green alternatives.
  • Costs to hire an accredited green consultant to assist in green design and reconstruction.
  • Certification or recertification of green covered property once repaired or replaced.
  • Additional costs for green removal, disposal or recycling of damaged property.
  • Business interruption coverage extended for the additional time required to repair or replace damaged covered property with green covered property.

Consider this claim scenario with a restaurant protected by Society’s green endorsement. The restaurant owner’s loss includes an older model refrigerator that would cost $2800 to replace. The owner can now purchase an energy-efficient model that may cost $3500, improving their profitability and helping to conserve our natural resources.

On Jan. 1, 2014, Society added an additional vegetative roof coverage to all businessowner policies. Lawns, trees, shrubs and plants that are part of a vegetated roof are now eligible to be replaced with similar materials. Talk to your local independent Society Insurance agent to learn more.

In the end, we all benefit from the extra value this innovative, environmentally-friendly coverage provides.

Editor’s Note: This post was originally published in April 2014 and has been updated.