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5 Ways Going Green Can Keep Your Commercial Insurance Premiums in Check

29. April 2016 08:12

business people in the woods

Inspired to make your company eco-friendly? Give yourself a pat on the back. Your efforts are helping make a greener Earth and that alone makes them worthwhile.

But for those of you hesitant to take up the environment’s cause, here’s a bonus for you: going green can also help you save some green – including on your commercial insurance premiums.

Here are five ways doing good for the world is good for your budget.

Go Green, Save Green Tip #1: Upgrade Your Lights

Switching to compact fluorescent lightbulbs is an easy upgrade that can reduce your risk of a Workers’ Compensation Insurance claim. How? CFLs last longer than other lightbulbs, which means you can change them less often. Fewer employees climbing ladders means fewer opportunities for them to fall.

This change is wallet-friendly. Energy Star reports CFLs use 70 percent less energy than incandescent bulbs.

Go Green, Save Green Tip #2: Eliminate Pipe Leaks

Americans waste nearly one trillion gallons of water a year, according to the Environmental Protection Agency’s WaterSense program (@EPAwatersense). Finding and fixing your leaky pipes can help reduce that waste and the liability issues that come with them.

Think about it this way: what happens when you ignore even a small leak? At best, you’ve got a mess on your hands. At worst, a customer could have a slip-and-fall that lands them in the hospital. If your pipes are tight, you could see fewer claims on your General Liability Insurance.

Go Green, Save Green Tip #3: Stop Offering Bottled Water

The health benefits of drinking water are well-documented, but what about the disadvantages of all those plastic bottles clogging up the landfills? Instead of buying bottled water for the office, ask employees to drink from the tap in reusable cups or bottles. Not only does that save a buck, but your workers also won’t strain their backs emptying the recycling bin, reducing the likelihood of a Workers’ Comp claim.

Added bonus? Less time taking about the trash means more time getting stuff done.

Go Green, Save Green Tip #4: Buy Secondhand Furniture

New office furniture can be more affordable, but that might be because it’s meant to be disposable. Cheaply built furniture isn’t a deal if your employees end up at the doctor’s office. The old stuff may look dated, but that’s a small price to pay for a greener planet and a safer workplace.

Avoid the cost of the headache of a Workers’ Compensation issue by purchasing sturdy secondhand office furniture.

Go Green, Save Green Tip #5: Use Energy Star Certified Products

The average commercial building wastes 30 percent of the energy it consumes, according to Energy Star. Even if you don’t own your building, the waste impacts your utility bills.

Instead of tossing money out the window, look through this list of Energy Star certified products. The savings could make it easier for you to afford a lower deductible on your commercial insurance policies. Cheaper utility bills and less money spent for insurance claims – why wouldn’t you?

Think going green is too much hassle for your small business? See how JVM Design does it in our “Small Business Spotlight: Going Green with JVM Design.”


General Liability Insurance | Insurance Savings Tips | Small Business | Small Business Risk Management | Tips for All Small Businesses | Workers' Compensation Insurance

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