New insurance product helps BC homeowners make eco-friendly choices when restoring property: Sovereign General

VANCOUVER, Jan. 19 2009 – Today the Sovereign General Insurance Company introduced a new offering for homeowners who are concerned about the environment and want to make a difference. The new insure2green coverage allows British Columbians whose homes are being repaired or rebuilt after an insured loss to upgrade their selection of building products to ones which are more environmentally responsible.

“Canadians are increasingly conscientious about their impact on the environment, and the Sovereign is eager to support them by providing products such as insure2green,” said Rob Wesseling, Chief Operating Officer of the Sovereign. “With this new endorsement, BC homeowners can afford to make sustainable choices when faced with damage to their home. It’s a better, greener way to insure your home.”

Although homes built with sustainability in mind typically cost more initially, by minimizing energy and water use these homes tend to yield lower operating costs in the long term. What’s more, improved indoor air quality generates healthier living conditions. The insure2green coverage addresses the initial cost difference between conventional items and more sustainable choices.

Three levels of premiums give homeowners varying levels of protection. A premium of $30 per year gives homeowners a maximum of $5,000 for upgrades with environmentally-friendly alternatives; for $38 a year the limit is raised to $7,500; and for $45 it is $10,000. This and other Sovereign products are sold through the company’s network of independent insurance brokers throughout British Columbia.

Customers may choose to direct this additional claim payment toward eco-friendly building materials such as cork or bamboo flooring, energy- and water-efficient appliances, energy-efficient lighting and HVAC systems, windows, doors and skylights incorporating new energy-saving technologies, and water-saving plumbing fixtures.

About the Sovereign General

The Sovereign is one of the major commercial insurers in Canada, and sells personal lines insurance products in selected regions of Canada. Sovereign distributes exclusively through independent brokers. Headquartered in Calgary, Sovereign is a proud member of The Co-operators group of companies.