What is Solar Farm Insurance?
Running a solar farm comes with a certain amount of risk, and those risks include both general risks and ones that are particular to the solar industry. Solar farm insurance helps solar farms in Vermont protect themselves from many of the risks they’re exposed to.
Solar farm insurance policies are specially crafted commercial insurance policies made for solar farms and similar businesses. Most policies are written as package policies that come with multiple protections, and businesses can normally adjust the protections in their particular policies so that the coverages are well-suited to their situation.
What Factors Impact How Much Solar Farm Policies Cost?
Insurance companies look at a wealth of variables when setting premiums for solar farm policies. A few of the items that might influence how much a policy costs include:
- How involved the farm is in constructing solar panels
- How tall projects are if the farm is involved in construction
- Where the farm’s operations are located
- What coverages and limits the farm chooses
- How many insurance claims the farm has filed
Whatever premiums paid are generally tax-deductible so long as the insurance is solely used to protect a business. (Farms should consult a qualified tax professional before deducting any expense, as tax laws can change and must be applied to particular situations.)