The Hartford Steam Boiler Inspection and Insurance Company hasannounced a new concept in homeowners insurance that combinesbreakdown coverage for home equipment systems, appliances andelectronics with a suite of home energy management services to helppolicyholders save money.

HSBHomeWorks includes the broadest breakdown coverage nowavailable for heating, cooling, water and power, security and otherhome systems, appliances and electronics. In addition, HSB'sservice suite helps policyholders operate their homes moreefficiently and reduce their energy expenses, including switchingelectricity suppliers to the lowest-cost provider in deregulatedstates.

“Homeowner carriers are increasingly looking for ways todifferentiate their products in the marketplace,” said Anthony J.Trivella, executive vice president at HSB, part of MunichRe. “When they add our program to their policies, HSBHomeWorks provides coverage and energy-savings tools that canre-energize and elevate their homeowners products. It's aninnovation unlike anything in the market today.”

With annual home energy costs averaging $2,300 and trendinghigher, customers can benefit quickly even if they never have abreakdown loss, saving money on fuel and electric bills to helpoffset their homeowners premium. HSB HomeWorks is designed to keeppace with new technology in the home and includes a home inventoryfeature that helps safeguard and manage personalinformation.

The home energy management services are delivered to homeownersthrough an interactive website, MyHomeWorks, which is branded toinsurance companies that partner with HSB to offer thecoverage. Simple-to-use tools enable a homeowner to calculatetheir home energy score, estimate potential cost savings, andfollow customized steps to improve efficiency and lowerexpenses.

With HSB's virtual home tour, policyholders can discoverenergy-saving opportunities in each room. In deregulated states,homeowners can use another tool to find the alternative powerproviders in their area with the lowest rates, compare programs,and sign up on the spot to start paying less. Customers canuse the home inventory tool to store photographs of their home'scontents and records of vital documents safely in one place. In a crisis, this will help them settle insurance claimsfaster.

Source: Hartford Steam Boiler