• Solar panel installers who perform contracted work
• Energy efficiency consultants who provide solar panel services
• Inland Marine Coverage
• General Liability Coverage
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.
Most Vermont businesses that are involved in the installation and/or service of solar panels ought to have this form of insurance. This includes:
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.
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:
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.
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.
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).
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:
An independent insurance agent can help businesses compare prices of various policies to see what option provides the best value for all desired coverages.
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.