You can apply for a Modern homesteader’s life insurance, but it would be better to first do some research regarding what your insurance will be covering. Lets first talk about what living off the grid is all about. The meaning of living off the grid is misinterpreted by many as a life full of hardships or a life wasted on substance abuse. This is not at all what living off the grid means; in fact it is quite the opposite.
Living off the grid does not involve cutting yourself off from the rest of the world and living a life of a caveman hunting for meat. It does not mean that you will have to stop using modern appliances that make life easier for you. All that it means is that through various techniques and technology you and your family can now create and sustain your sources of energy using nature’s power.
Just like anybody else, you will still be a citizen of the United States entitled to your rights to claim a homesteader’s life insurance. Living of the grid may prove to be a wonderful experience in which you feel yourself in harmony with nature and cleaner environment all around you. This is your chance to give something back to the environment that most of us so ruthlessly destroy every day.
Modern Homesteaders Life Insurance
Applying for a homesteader’s life insurance can be a good idea if you want to ensure that your next of kin gets a substantial amount, tax free, in case of your death.
Living Off the Grid Defined
Homesteading and Living off the grid entails a cut-off from any sort of outside source of power in the form of electricity, water and sewage, gas and heating. There are now a lot of ways you can be self-sufficient in all of the above mentioned energy sources.
There are many homeowners who live off the grid by providing their own source of electricity but depend on the public provision of water and sewage. Many tend to develop their own water and sewage systems but depend on public electricity provisions.
The main purpose of living off the grid is to rid yourself of various utilities bills. Many find it increasingly difficult to pay for their utilities bills and homesteader’s life insurance premiums every month. Now you can eliminate extra costs so that you can focus on saving money for important things like your kid’s college tuition and your homesteader’s life insurance.
You can become self-sustained through harnessing nature’s power in the form of sunlight and powerful winds. Through the installation of a good solar panel system you can easily store a lot of energy coming from the sun in the form of sunlight.
Through an intricate system the sunlight is stored in the panels is then broken down to provide alternative current which in turn will power your house for a longer period of time. This way you may grow a bit more self conscious about saving energy and conserving energy, ultimately leading to a balanced way of life.
Another way you can become self reliant in harnessing energy is through wind. You can get powerful winds turbines installed which are propelled by the force of the wind. The power that the turbines create is then transformed in to energy and then electricity. You can either install one or both of the systems in order to get more energy.
For example in winters when the sun does not shine for longer periods of time, your solar panels will catch sunlight as much as they can during the day. And upon night fall when winds are generally blowing in the winter, your turbine system would allow you to store wind energy to be used for creating electricity.
You can even invest in producing 100% energy, this way you can store what you require and sell the rest of the energy to the power companies earning money. This also ensures that the energy you have created in excess is not wasted. You can even use that energy to pay off for your homesteader’s life insurance premiums by using the money you get by selling the energy to power companies.
If you are considering living off the grid you must also get backup generators and batteries which can store excess energy incase when you really need it. There are times when the sun doesn’t shine for longer periods and in these situations your backup generators kick in using the excess energy to power your house.
Homesteader’s Life Insurance
In America there are many households which started to live off the grid, unplugging from the system and generating their own source of food and energy. As they do this, various life and health insurance companies bring out different homesteader’s life insurance coverage options for such households.
To save the greatly depleting fossil fuels, many households are reverting to creating and consuming their own energy. They recycle, reuse and make sure everything they do result in positive results for both the environment and themselves in the short and long run.
There are specific insurance companies which allow discounts for homesteader’s life insurance for individuals who are less dependent on public utilities and create their source of power. Some give up to five percent concession on premiums if homeowners install solar panel systems and geothermal pumps to power their homes.
Living Off the Grid Does Not Mean that You Live Without Any Power
According to Cyril Greenya who is Donegal’s (insurers) chief underwriter; “If someone is living in a house with no heat and no water, that’s not somebody we would like to insure. If they have wood fireplaces or coal stoves, that’s not something we want to insure. Now you’re talking about a fire hazard. But geothermal and solar are different. They’re safe.”
Some homesteader’s life insurance companies require that you install solar panels and geothermal pumps via a professional in order to get insured against any hazards. Insurance companies discourage getting the job done by inexperienced individuals who risk destroying your house through improper insulations and installations which end up damaging entire systems. There are many homesteader’s life insurance companies that do not give out homesteader’s life insurance coverage to households which are powered by wind, yet.
‘Going Green’ Insurance Coverage
Over the years there have been a lot of homesteader’s life insurance companies which have provided customers with substantial discounts for owning ‘Green’ homes which are environmentally friendly. According to reports made on these insurance companies it was discovered that in 2009, 22 homesteader’s life insurance companies provided 39 services and products in order to promote the construction of buildings that are environmentally friendly.
These companies also promote the renovation of older buildings using environmentally friendly techniques. Since the report came out it has been discovered that there are now even more companies providing homesteader’s life insurance for households ‘going green’.
Michael Barry, a spokesperson for the Insurance Information Institute was recorded as stating; “Alternative energy coverage is a niche business, but as more homes are being built that are so-called eco-friendly, and as more homeowners take an interest in them and as more builders build them, you will see more insurers cater to this audience.”
Many Insurance Companies Do Not Quote Lower for Off the Grid Homes
Unfortunately some of the most reputable insurance companies in the United States do not indulge offering lower quotes for homesteader’s life insurance for households living off the grid. Je McCollum, a representative of State Farm was reported stating; “We have no problem insuring homes that are off the grid, we’ve been around more than 80 years, so we were insuring homes that were off the grid before there was a grid.”
Do Not Get an Additional Coverage for modern Homesteader’s Life Insurance and Home Insurance
It is not necessary to get additional coverage for your solar panels and geothermal pumps since your general insurance policy covers all of this. You will only have to make sure that your policy precisely defines the cost of replacing it would cover for repairs to your home.
Many speculate that with the rising popularity of homesteaders in the country, more insurance companies will start providing coverage for homeowners using alternative energy. According to USA Today, it was reported that over 250,000 families now live off the grid in both urban and suburban areas.
Mentioned below are some of the benefits of Living of the Grid with modern Homesteaders Life Insurance:
Sustainability: You can grow your own food and energy to power up your house without any outside influence. This will allow you to save hundreds of dollars in utilities bills which you can put to better use. A sustained food supply means that you will be able to consume healthy and non-GMO based foods. Plus you can even sell some of your fresh organic produce for twice the price.
‘Going Green’: Self sustainability will allow you to become more environmentally entwined and you will stop wasting resources and energy. Turning off excess lights, turning off running water when shaving or brushing your teeth etc. are all things that you will need to do in order to save energy and the environment.
Independence: The feeling you get when you do not have to pay for you utilities month after month and knowing that you can grow your own food and supply your energy is out of this world. This free and independent feeling is a reward unlike any other in this day and age. You will not have to depend on anybody.
Saves Money: ‘Going green’ might save you a considerable amount of money. Living off the grid can be a bit expensive initially, but once you have installed your systems and recovered your investment in about 5 to 10 years, you will see how much money you can save living off the grid. Plus you will not have to pay an increased amount of utilities and fossil fuels.
Some Considerations for Off the Grid Households
There are several advantages of living off the grid but it takes a bit of time and money to set up the entire process. Here are some things to consider when deciding to go all green.
You are your own power company: When you pay for your utility bills you are also agreeing to pay a percentage amount on salaries of all those who are employed by the power companies, the workers, the maintenance people etc. When you are off the grid you will have to spend a lot time making sure that everything is in check along with setting the entire system up.
Regular Investment is required: In order to go entirely off the grid it is required that you invest a lot of money in backup generators for the house along with batteries that can store the energy that you produce. Based on the qualities of the batteries you may have to buy a new one every 5 to 15 years.
Plus generators require gas and tools you will have to buy a lot of that daily in order to keep the generators running in case of a power outage.
All in all, it is better to apply for your homesteader’s life insurance policy when you go out to get an insurance coverage for your off-the-grid house. Homesteading has become increasingly popular and if the trend continues like this there will be more insurance companies serving alternative energy-backed homes with more services and products.
If you are fed up of paying utility bills every month by working two to three jobs than it is better to switch to a more self-sufficient, satisfying and rewarding way of life.
A homesteader’s life insurance policies may be really flexible depending on the needs of the one who has applied for the policy. The death benefit is subjected to a decrease or increase at anytime depending on the policy owner. Plus you can even decrease and increase your insurance premium which is another benefit of having an insurance coverage.
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