Types of Photovoltaic Insurance and Recommendation

PV insurance types and advice to PV power plant owner

PV insurance is a series of insurance products designed specifically for the PV industry, aiming to protect PV power station owners

from economic losses caused by various potential risks. There are many types of PV insurance, mainly including property all risks

insurance, business interruption insurance, public liability insurance, employer liability insurance and installation engineering insurance.-Insurance of serious injury and third party liability, etc.

Overview of photovoltaic insurance types

1. Property All Risks: Coverage due to natural disasters (liketyphoon,Fire, lightning, storm, etc.)or accident(Such as equipment failure, human   damage, etc.) Resulting in photovoltaic power station buildings, equipment and otherfixeddirect physical damage to or loss of assets,

2. Business interruption insurance: When a PV power station's operations are interrupted due to the above risks, the insurance provides

   financial compensation to make up for the loss of profits and necessary additional expenses.

3. Public Liability Insurance: Employer Liability Insurance: Covers the economic compensation liability that the insured should bear according   to law for personal injury or property loss to third parties caused by accidents during the operation of PV power stations.:

   Provide employers with protection against the financial compensation liability that they should bear according to law due to accidents   or occupational diseases suffered by employees during work

4. Installation Project All Risks and Third Party Liability Insurance:It protects all kinds of construction projects from material damage   or fire caused by natural disasters or accidents during the installation process, and also includes personal injury or property loss   to third parties caused by construction.。

1MW PV power plants owner, it is recommended to purchase the following types of insurance:

    1. Property All Risks:Ensure that the buildings, equipment and other fixed assets of the photovoltaic power station can receive timely

   fin ancial compensation in the face of natural disasters or accidents.

    2. Business interruption insurance: Avoid business interruptions caused by unexpected events, thereby ensuring the continued operation and

   stable income of the power plant

    3. Public Liability Insurance: Reduce the legal risks and economic burden caused by damage to third parties caused by photovoltaic power

   station operation

    4. Employer Liability Insurance:Protect the legitimate rights and interests of employers and avoid financial compensation liability caused    by employee accidents or occupational diseases.

For enterprises that have their own factories,In the process of insuring the factory,You can directly add PV power generation to all-risk property insurance. If you still don't understand,you are welcomed to contact Solartale for more.