Fireman’s Fund Provides Green Tips for Small Business Owners to Save Money and Improve Bottom Line Results

NOVATO, Calif.--(BUSINESS WIRE)-- If you are a small business owner and interested in saving money by reducing energy consumption and making your business sustainable, Fireman’s Fund Insurance Company has some helpful tips that can impact your bottom line with little to no investment.

As the first property and casualty insurer to offer green insurance for the commercial marketplace in 2006, one surprising trend was the uptake by small business owners. In fact, small business owners today account for more than 40 percent of Fireman’s Fund’s green upgrade policyholders.

In the event of a loss, green upgrade insurance enables policyholders to replace traditional systems and materials with green materials. For example, if there was a pipe leak that caused damage to the carpeting Fireman's Fund would replace with environmentally-friendly carpeting.If the entire building is destroyed, Fireman’s Fund will pay the cost to rebuild as a green-certified building.

“Initially, we were surprised by the number of small business owners that purchased our green insurance coverage,” said Bruce Petersen, senior vice president of Commercial Insurance at Fireman’s Fund. “However, it became clear that small business owners – who are used to managing tight budgets – were quick to understand the economic benefits of green and how it could positively impact their bottom line.”

Below are three key steps small business owners can follow to lower their operating costs, increase the efficiency of operations, and become sustainable:

Benchmark your buildings: By evaluating a building and its operations, a small business owner can identify and prioritize improvement opportunities. This involves benchmarking, conducting a self-evaluation, and seeking outside assistance, if needed. Fireman’s Fund recommends using the Energy Star for Small Business online resource that provides free information and technical support for small business owners to improve financial performance by reducing energy waste and energy costs. The tool provides tips, resources, case studies and information to help develop energy management goals and identify opportunities for savings.

Analyze buildings and operations: After benchmarking, small business owners need to analyze their buildings and operations. The best way to maximize self-evaluation efforts is to focus on only one or two aspects. For most small businesses those areas include: lighting, heating and air conditioning, office equipment and water (hot and cold).

“Fireman’s Fund offers self-evaluation checklists to help guide small business owners on what to look for, potential savings and benefits for each one, and implementation costs, although many items are no or low cost,” said Stan Naylor, Risk Services and Solutions director at Fireman’s Fund.

Seek outside assistance; If time or resources are limited, there are a number of strategies to help jump start your savings:

• Ask your utility provider if they offer free or inexpensive energy audits and/or rebates for energy-efficiency upgrades.
• Invite contractors to your facility to suggest upgrades and provide free estimates.
• Contract with a water or energy conservation professional to coordinate and manage your project.

In addition, below are some simple steps that small business owners can take to reduce energy and water use:

• Replace incandescent light bulbs with compact fluorescent light bulbs (CFLs) whenever possible. CFLs use about 75 percent less energy than standard bulbs and last up to 10 times longer.
• Check toilets for leaks as this is a common cause of water loss. To check for leaks put a little food coloring in the toilet tank. If, without flushing, the color begins to appear in the bowl within 30 minutes, there most likely is a leak. Most replacement parts are inexpensive and easy to install.
• Fix leaky faucets. Besides wasting water, leaky faucets also impact water heating costs. Installing touchless faucets in restrooms can reduce this problem and water use.
• Installation of low-flow water fixtures. There are a wide variety of water-saving devices are available, including toilets, faucets, irrigation systems and more.
• Limit hot water temperatures to less than 125 degrees F to reduce energy costs and minimize the likelihood of tenant burns and scalds.
• Insulate pipes to cut water heating costs.

About Fireman’s Fund^®

Fireman’s Fund Insurance Company is a premier property and casualty insurance company providing personal and commercial insurance products nationwide. Fireman’s Fund is a member of the Allianz Group, the world’s largest provider of property and casualty insurance based on market capitalization and total revenues as of March 1, 2011. For additional information, visit www.firemansfund.com.

Fireman’s FundSuzanne Meraz, 415-899-3647
[email protected]

Source: Fireman’s Fund