Solar Contractor Insurance in Vermont

What is Solar Contractor Insurance?

Solar contractors are exposed to an array of risks, including both common ones that many businesses face and less common ones that are unique to installing solar panels. Solar contractor insurance helps solar contractors in Vermont protect themselves from many of the risks they face.

Solar contractor insurance is a specialized form of commercial insurance that’s drafted to meet the particular needs of solar panel contractors. Because these businesses face multiple risks, policies are typically written as package policies that combine several coverages together.

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What Businesses in Vermont Need Solar Installation Insurance?

Most Vermont businesses that are involved in the installation and/or service of solar panels ought to have this form of insurance. This includes:

  • Full-service solar providers who employ installation teams
  • Solar panel installers who perform contracted work
  • Energy efficiency consultants who provide solar panel services
  • Solar panel stores that offer optional installation services

Other businesses in the solar industry might also benefit from a solar installation insurance policy. A specialized agent who’s familiar with this relatively new commercial insurance can help businesses determine whether this or another insurance is better suited for their specific needs.

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What Coverages Does Solar Installation Insurance Provide?

Businesses can often adjust the specific coverages contained within their solar installation insurance policy, so the exact protections that policies offer can vary. Nonetheless, there are many coverages that policies frequently make available:

  • Commercial Property Coverage, which may protect buildings, equipment, and inventory stored on company property
  • Inland Marine Coverage, which may extend protection for equipment and inventory beyond the perimeter of a company’s property
  • General Liability Coverage, which may protect against a variety of common accidents that result in injury to others or damage to their property
  • Professional Liability Coverage, which may protect against errors made when providing advice or developing software
  • Manufacturers Errors and Omissions Coverage, which may protect against errors that wholesalers or distributors of panels make
  • Cyber Liability Coverage, which may protect against data breaches and online attacks
  • Commercial Umbrella Coverage, which may offer additional liability protection on top of what other coverages provide

Assuming a solar contractor has employees, workers compensation coverage is generally also needed. Workers compensation normally protects against workplace injuries that employees sustain, and injuries are certainly a possible risk when installing solar panels (as well as doing just about any other task). 

Whether workers compensation is purchased as part of or separate from a solar installation policy depends on the policy, though. An agent can help businesses figure out how they should procure this coverage if it’s required.

Do Solar Installation Policies Cover Mold-Related Liability Claims?

Water intrusion and resulting mold growth are a risk that many solar panel installers need to take seriously, and it’s not something that all policies cover. Standard commercial liability coverages often exclude mold-related claims from their protections.

Some solar installation policies, however, offer an optional mold coverage endorsement. Should water seep through installed panels and damage an underlying roof, an endorsement like this might cover any mold-related lawsuits or claims that arise from the leak. 

An agent who’s familiar with these policies can see whether available policies offer this endorsement option.

Does Bodily Injury Coverage Cover Employees’ Injuries?

The bodily injury coverage found in general liability policies is typically meant to cover certain injuries that are sustained by third parties, such as customers and vendors. In most cases, this coverage doesn’t extend to employees who suffer on-the-job injuries.

Workers compensation coverage is the insurance that’s normally designed to cover employees’ on-the-job injuries and illnesses. Most insurance agents who are familiar with general liability policies can also help businesses find workers compensation policies (as well as liquor liability and product liability policies).

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What Factors Affect Solar Installation Insurance Premiums?

Insurance companies look at many different factors when setting premiums for solar installation policies. Some of the items that might influence how much a business pays include:

  • What type of solar-related work the business does
  • How tall the projects that the business does are
  • How many employees the business has
  • What the business’ employees do (e.g. climb on roofs, work in an office, etc.)
  • How much the business is involved in producing engineering drawings (if at all)
  • Where the business is located
  • What coverages, deductibles and limits the business selects
  • How many claims the business has previously filed

An independent insurance agent can help businesses compare prices of various policies to see what option provides the best value for all desired coverages.

How Can Solar Contractors in Vermont Get Solar Contractor Insurance?

For help finding solar contractor insurance, contact the independent insurance agents at Paige & Campbell Insurance. Our Vermont agents have the expertise necessary to help you find a policy that comes with the coverages your business needs, and they can show you several policies that meet your business’ coverage requirements. 

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