Fireman's Fund Insurance (part of Allianz Group) announced that it is the first to introduce hybrid upgrade auto insurance, enabling car owners to “go green.” The upgrade added to a traditional auto policy will allow the auto owner to choose to purchase a hybrid auto in the event the insured vehicle is totaled out. Rather than actual cash value, the policy will pay replacement value including the differential in cost in choosing the hybrid alternative.
Since 2006, Fireman's Fund has offered businesses "green" coverage for buildings and has expanded that coverage for buildings and manufacturing facilities. The "Green-Guard" coverage allows upgrades to green building systems in case of loss and protects existing green systems.
Let's hope other insurers follow Fireman's lead.
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