The new coverages include:
Green home: Mercury will cover up to an additional 10% of the replacement costs for environmentally friendly alternatives or construction methods with a covered loss. For example, if a homeowner with the additional coverage has damaged carpeting and selects an environmentally friendly replacement, Mercury would issue funds up to 10% more than the cost to replace the carpeting so the homeowner can select the environmentally friendly option. The protection also extends to personal property such as appliances when replaced with eco-friendly alternatives.
Matching of undamaged siding and roofing: Roofing or siding repair is often limited to damaged areas, and with time the older, non-damaged areas will fade, or the original roofing or siding is no longer available – meaning homeowners wind up with roofing or siding that doesn’t match. Mercury now provides two additional coverages – roofing and siding – that allows undamaged portions to be replaced as well when there is a mismatch.
Limited hidden water, steam seepage or leakage: In many instances, a water leak may be hidden within a wall or ceiling and go on for weeks or months before discovery. Mercury is offering coverage that would apply to damages in these instances.
Refrigerator products: Mercury is offering new protection that covers up to $1,000 of food items if a loss of power or the mechanical failure of a refrigerator results in spoiled food.
New discounts include:
Green home: Mercury is offering up to a 5% discount for all perils if the home has a Green certification by the US Green Building Council LEED rating system or meets the requirements of the National Association of Green Building Guidelines.
Updated homes: Homes more than 20 years old, with permitted renovations such as HVAC replacement, re-roofing, remodeling or a new addition during the last 10 years are eligible for a discount of up to 10% on wind and water perils.
Good payer: Homeowners who’ve paid on time for the last 36 months are eligible for the discount, which saves 2% on the policy. The discount is available to both new business and existing policyholders.