Most renewable energy businesses are rural or a diversification of an original business such as a farm. This can mean you believe you are already adequately insured. However, the renewable energy sector has its own risks and therefore, many insurance providers now offer unique renewable energy insurance for your business in this area.
Renewable energy insurance premiums are tailormade and can cover a wide range of different types of energy and premises. Specialist property insurance is often a requirement. You will find insurance covers possible for many different structures and types of renewable energy including:
- Biomass and wood chip boiler systems
- Onshore and offshore wind turnbines
- Wave and tidal marine systems
- Hydroelectric plants and systems
- Hydrogen fuel cell developments
- Biogas and anaerobic digestion
- Solar energy plants and developments
These are among the most common kinds of renewable energy development which require insurance, but this list is not exhaustive. The renewable energy sector is growing rapidly. Therefore, being fully prepared and covered is key to ensuring business growth in the future, even if accidents and problem occur along the way.
What Does Renewable Energy Insurance cover?
Renewable energy insurance is highly varied due to the different types of energy and the structures involved. The insurance can be in place from before building begins and can incorporate many of the following:
- Construction and/or erection all risks cover
- Advanced loss of profits cover
- Delay in start-up cover
- Operational all risk cover
- Machinery breakdown cover
- Business interruption cover
You may also find renewable energy insurance cover which incorporates more typical business insurances needed by all companies. For example, it may be possible to build in public liability and employers’ liability insurance to a larger renewable energy insurance premium, dependent on the insurer.
Renewable Energy Insurance with Just Quote Me
Just Quote Me work with many progressive businesses in the renewable energy sector. Whatever types of energy you are producing we can help organise the right insurance cover. Contact us today to discuss your individual business needs.