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solar PROJECT insurance 

Here to help with your solar panel or solar farm insurance

Solar power has become a leading part of the UK’s renewable energy sector. Insurance cover for solar farms is a crucial part of any new or existing project for owner/operators or funders.

Insurers and subsequently insurance premiums for solar farms in the UK have become increasingly under pressure due to a higher frequency of claims including –

  • Theft – increased number of thefts of cabling and modules.
  • Breakdown – as equipment such as transformers and inverters get older there are increased number of incidents of breakdowns/faults
  • Weather events – these include local storms and flooding
  • Fire – usually related to transformers, inverters, and HV equipment

Whether you're an owner/operator, investor or funder we understand the challenges faced within the UK insurance solar market. That's why we arrange specialist solar energy insurance cover for your project from the construction stage to being fully operational.

How our solar insurance experts can help you

Our team of solar insurance experts work with specialists in the solar and renewable energy market. We'll give you the advice and support you need, whenever and however you need it, so insurance will be one less thing for you to worry about.

Cover for solar arrays

Both ground-mounted and on residential and commercial properties –includes:

all risks cover – such as damage to panels: fire, storm and theft
loss of revenue or income
public liability insurance – damage or injury to third parties
employers’ liability insurance
reinstatement/decommissioning insurance.

Solar project insurance: Construction and installation stage

Contractors All Risks Insurance

Contract works insurance for solar panel installers
Provides cover against physical loss, destruction or damage to construction works during the course of construction.

In the event of an insured loss you will be covered for the value of the damaged property or the cost of repair or at the insurer’s option, reinstatement or replacement from any cause not excluded by your policy.

Owned plant/ hired-in property for solar panel installers
Provides cover against loss or damage to own or hired in plant. In the event of an insured loss, you will be covered for the sums you are legally liable to pay in respect of damage to the property and continuing hiring charges levied

Employees effects for solar panel installers
Provides cover against loss or damage to the loss or damage to employees personal effects. Cover applies anywhere within the United Kingdom, the Channel Islands and the Isle of Man.

Delay in start up/ advanced profits

This cover protects you against financial losses, following damage that causes an interruption or interference with the programme of construction and a delay to the commencement of commercial operation of your business

Goods in transit insurance/ marine insurance
We can arrange cover for goods in transit insurance and marine insurance for solar panel installers. This will protect any stock and equipment which is being transported. This could include panels, investors being transported from supplier to site or from site to site.

The cover will protect against perils such as accidental damage, fire and theft with cover being arranged on a maximum anyone vehicle basis.

Environmental liability insurance
We can arrange environmental liability insurance for solar panel installers. This will cover against gradual pollution and the clean up costs following contamination.

Environmental liability insurance is not just a consideration for heavy industries such as chemical, petrochemical or manufacturing there is now pressure on any organisation to have a social, ethical and environment policy in place.

Solar project insurance: Operational stage

All risks cover including breakdown – cover against damage, theft, fire and storm 

Cover
Any loss or damage to your solar panels and ancillary equipment at your premises, including machinery breakdown. Cover extends to include damage to panels and ancillary equipment while temporarily removed from the premises for cleaning, renovation, repair or other similar purposes and while in transit by road rail or inland waterway.

Basis of settlement

Cover is on a reinstatement ‘as new’ basis, excluding betterment.

Inflation protection (day one reinstatement) provides an automatic 15% increase in the machinery and buildings values you declare for insurance during the period. You have an option to increase this percentage.

Principal Exclusions

  •  The first £500 of each and every loss
  • Losses covered under guarantee

N.B.
The equipment values you declare must be sufficient to reinstate the property at the start of the policy period. If the values declared are less than the full amount which the property should be insured for, your claim may be reduced.

Terrorism insurance
This cover includes damage or loss resulting from damage to the solar panels and ancillary equipment and consequential loss resulting therefrom caused by or resulting from an Act of Terrorism

Loss of revenue insurance - cover against the loss of FIT

Cover
This cover protects you against the financial consequences of loss of or damage to your insured property. The cover will specifically cover loss of revenue from FIT and other income streams as a result of a solar project.

Indemnity periods can be selected from 1 month to 36 months.

Extensions

  • Additional costs reasonably incurred to reduce loss of gross profit or revenue
  • Loss or damage at third party storage premises
  • Machinery temporarily removed for cleaning, renovation, repair or other similar purposes
  • Reduced yield insurance - cover against sun irradiation

Reduced yield insurance – Cover against sun irradiation

Cover

This cover protects you against the financial consequences of loss of or damage to your insured property. The cover will specifically cover loss of revenue from FIT and other income streams as a result of a solar project.

Indemnity periods can be selected from 1 month to 36 months.

Extensions

  • Additional costs reasonably incurred to reduce loss of gross profit or revenue
  • Loss or damage at third party storage premises
  • Machinery temporarily removed for cleaning, renovation, repair or other similar purposes
  • Public liability insurance – cover against damage to third party property/ injuries to third parties
  • We can arrange cover for public liability insurance specifically relating to the panels and equipment that have been installed. This will protect against the panels and equipment causing damage to any third party/surrounding property or injury to a third party.

Cover can be arranged on £1m, £2m, £5m or £10m limits of indemnity.

We have provided insurance cover for many solar investors on a wide range of projects in the UK, some examples of our projects include:

  • Large residential/ social housing solar projects
  • Multi site commercial solar projects
  • Local authority building solar projects
  • Agricultural/ rural solar projects
  • Ground mounted solar projects

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