We’ll also point out that AIG United Guarantee is developing an efficient energy program as well. According to the company representative we spoke with, it’s expected soon.
In addition to mortgage insurance savings, there are naturally other benefits to having an energy efficient house. Estimates are that people can save up to 30% on their annual utility costs by having a house that meets EnerGuide 77 standards. Typical new homes are rated about 68.
You might also be eligible for up to $5000 from the government if you environmentally retrofit your existing house. (More info)
In coming years, most new houses will probably have to meet efficiency standards regardless. Certain provinces have, or are considering, legislation that requires all new homes to meet EnerGuide 77 or 80 ratings by 2010-2012. If that happens, it’s possible insurers would increase their efficient-housing standards so homeowners don’t get the insurance discounts by default.
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