Commercial property owners are being offered a new insurance policy that covers environmentally friendly reconstruction.
It’s been developed by insurance broker Apex General in partnership with NZI.
Apex general manager James McGhie said: “We have spoken to some of our most valuable customers who have told us that many business owners will actually choose to have more sustainable and environmentally-friendly premises if given a chance to rebuild. Green building materials can cost more initially, so we have made sure that the limit on this policy are double those available to others.”
Policy premiums are the same as a normal insurance policy.
McGhie said that up to 70% of the NZI clients who had been offered the product had taken it up.
He said clients would not pay more for it. “If there’s a large take-up there’s a bigger pool anyway.”
The policy will cover 10% of the actual cost of the rebuild to a five-star green standard approved by the Green Building Council, up to $500,000.
“If we are to use the example of Christchurch, in the event of an earthquake anywhere in the country and your business suffers a total loss – you can then choose to rebuild your business using eco materials such as solar panels, wool insulation and green power sources. These are all things which will save your business money long-term, and keep your operating costs low.”
Apex is a finalist in the Sustainable Business Awards, announced next month.