For Insurers, Energy Efficiency Means Lower Risk

For many property owners, insurance is a major expense. There are many factors that can affect your insurance rates—specifically, many issues or risk factors related to your property that can cause your insurance rates to rise, perhaps by quite a bit.

However, there are also some factors that can make the property eligible for discounts or reduced rates. This includes things like installing certain types of smoke detectors or security systems. Then there are other home characteristics that insurers may view as posing less of a risk of loss.

It isn’t just homeowner insurance that may be of concern, though—many property owners also need to worry about mortgage insurance. As this article notes, at least one mortgage insurance company now offers discounts to some homeowners who buy energy efficient properties. The reasoning makes sense: properties that are energy efficient tend to have been updated recently and are likely to be well-maintained. This means the property overall is probably safer and more solid than those that haven’t been updated or maintained as well.

There’s also the thinking that homeowners who have lower utility costs may have less risk of financial challenges which might lead to them becoming delinquent on their mortgage payments.

Contractors who want to help their clients enjoy these and other benefits from the energy efficient properties of spray foam insulation and coating can find all the equipment they need at Intech Equipment & Supply.