SolarInsure SolarInsure
  • Home
  • Insurance
    • General Liability
    • Workers Compensation Insurance
    • Commercial Auto
    • Risk Management
  • Extended Warranty
    • For Installers
    • Become a Partner
    • Warranty FAQ
    • Partner Login
  • Cert Request
    • Additional Insured Requests
    • NowCerts
  • Contact Us
  • 714-625-8204
SolarInsure SolarInsure
  • Home
  • Insurance
    • General Liability
    • Workers Compensation Insurance
    • Commercial Auto
    • Risk Management
  • Extended Warranty
    • For Installers
    • Become a Partner
    • Warranty FAQ
    • Partner Login
  • Cert Request
    • Additional Insured Requests
    • NowCerts
  • Contact Us
  • 714-625-8204
Jun 20

For Solar Developers – How Solar Property Insurance is Priced

 

Photovoltaic, Solar Cells, Current

According to the Solar Energy Insurance Association, the solar industry supplied 40% of all new 2015 electric generating capacity – more than any other energy technology last year.

This upward trajectory into 2016 brings a new challenge to traditional insurance models, who are attempting to merge Solar insurance and other insurance policies with meager results. If you want adequate coverage for your solar arrays, using solar technology requires dealing with companies that specifically specialize in Solar Property Insurance.

This uncharted territory requires clear, direct answers. With an ever-increasing complexity of insurance risks in today’s business world, it’s important to understand how Solar Property Insurance is priced to protect yourself.

Our package approach is tailored specifically for renewable energy operations and offers many enhancements:

  1. Capacity for Coverage
  2. Property rates
  3. Solar Insurance Policy Coverage
  4. Power Purchase Agreement

 

Capacity for Coverage

Capacity for the Property coverage is provided by a consortium of leading A+ Rated Insurance Companies, all authorized to conduct business in the US and Canada.  An A+ rating means these companies have a superior ability to meet their ongoing insurance obligations.  The higher an insurance carrier’s ability to meet insurance obligations,  the less risk it offers to you, the policy holder.

These ratings come from A.M. Best, the gold standard of the insurance industry, whose rating process subjects all insurers to the same rigorous criteria. When shopping around, this provides you with a valuable benchmark for comparing insurers.

We have an insurance capacity of $50,000,000 per project on an unlimited basis, with higher limits always available on a project-by-project basis.  Learn more here.

 

Solar Insurance Property Rates

Property rates for solar developers range in the $0.15 – $0.30 per $100 of total insurable value.

For instance, a solar farm with an insurable value of $1 million will have an annual premium of around $2500 per year.

(Note: Rate ranges depend on coverage chosen, area and deductible amounts. To find out your property rates, Contact Us.)

 

Solar Insurance Policy Coverage

Our solar insurance program is designed specifically for renewable energy developers and is available to new and existing projects nationwide.  The program ensures there is no gap in coverage throughout the stages of the project.

Insured Solar Project Stages:

  • Transporting Project components to construction site
  • Commencement of work at the site
  • Testing and commissioning phase
  • Commercial operations

 

Our Solar PPA Packaged product provides:

All Risk Property Coverage: All risk coverage protects your equipment against loss from theft, fire, wind and earthquake.

All Risk Coverage insures the above-mentioned project phases:

  1. Project components journey to the construction site
  2. Commencement of work at the site
  3. Testing and commissioning phase
  4. Start of Commercial operations/Installation

General Liability: General liability starts at $1 million per occurrence / $2 million aggregate with limits available up to $50 million.

Equipment Breakdown: Equipment Breakdown coverage pays for the loss that results when solar equipment is damaged by mechanical breakdown, power surges, electrical short circuits, overload and electrical arcing. Note: Electrical arcing and steam explosion perils can be incorporated into a package policy. There is no need for a separate boiler and machinery policy. Learn more.

Business Interruption: Insures against loss or damage to the income or profit of a business due to an interruption in the down time of the solar array.


If you would like more information or to discuss your specific insurance needs with a SolarInsure representative, please complete the form below or click here.


 

Related Posts:

  • SitemapSitemap
  • 3 Easy Ways Installing Solar On Your Business Will Save You Money3 Easy Ways Installing Solar On Your Business Will…
  • Top 5 Largest Solar Power Plants of the WorldTop 5 Largest Solar Power Plants of the World

Related Posts

Comments are closed.

Offer your clients extended warranty protection by SolarInsure.

Learn More

Categories

Recent Posts

  • Increase your revenue and save your customers money with Solar Extended Warranty
  • SolarInsure Launches Extended Warranty Program for Solar Installers
  • Top 5 Largest Solar Power Plants of the World
  • The Pros and Cons of Buying a Solar Warranty Plan for Customers

About SolarInsure

For more than 15 years, SolarInsure has provided advanced risk management policies for growing alternative energy companies. We have recently expanded our product offerings. We now provide warranty assumption insurance for your solar products and services.

Phone – 714-625-8204

Navigation

  • Home Page
  • About SolarInsure
  • Extended Warranty Program
  • Warranty Partnerships
  • Extended Warranty FAQ
  • Contact Us

Get More Information