Green Homes: How to save up to 25% on your insurance premium

Monday June 12th, 2017

Green Homes: How to save up to 25% on your insurance premium

Did you know you can get up to 25% of your mortgage insurance premium back when you buy an energy-efficient home or when you buy a home and make energy-efficient improvements?

 

Purchasing or building an energy-efficient home

New homes built under one of the energy-efficient building standards set out by the Canada Mortgage and Housing Corporation (CMHC) are eligible for a 15% or 25% refund of mortgage insurance premiums.

15% premium refund

25% premium refund

© Built Green Canada
ENERGY STAR®
LEED Canada for Homes 
Novoclimat

R-2000

 

 

Homes not built under an eligible building standard must be assessed by a Natural Resources Canada qualified energy advisor. The eligible premium refund will be based on the efficiency rating they assign.

 

15% premium refund

25% premium refund

EnerGuide Rating 0-100 scale

Rating of 82 to 85

Rating of 86 to 100

 

Buying a condo

Condominium units in high-rise buildings built to the LEED Canada standard are eligible for a 15% premium refund.

You could also get a refund if the building meets certain criteria.

15% premium refund

25% premium refund

The building is designed to be 20% more energy-efficient than required by the Quebec Construction Code.

The building is designed to be 40% more energy-efficient than required by the Quebec Construction Code.

 

Renovating your home

If you purchase a home and make energy-efficient improvements, you may also be eligible for a premium refund. To qualify, you must have your home assessed by a Natural Resources Canada qualified energy advisor before and after the renovations.

 

15% premium refund

25% premium refund

If Pre-retrofit rating ≤ 55

Increase rating by 10 points

Increase rating by 20 points

If Pre-retrofit rating ˃ 55

Increase rating by 5 points

Increase rating by 10 points

 

In conclusion, note that you must apply for the premium refund within 24 months from the date the notarized purchase agreement is signed.

It pays to live in an energy-efficient home!

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