Alternative Energy Equipment Coverage
Protect energy-producing equipment, such as solar panels or wind turbines, against breakdown, damage, contractual losses, and other associated expenses.
How does this benefit your organization?
Covers up to the policy limits you select:
- Breakdown of energy-generating equipment.
- Physical damage to energy-generating equipment.
- Removal and replacement of energy-generating equipment in the event of a covered loss not involving the equipment.
- Increased costs of purchasing electricity when a covered loss results in failure to provide or consume an amount of electricity specified by a contract or agreement.
Example of Claims Covered
Hail Damage: A hail storm damages several solar panels and portions of a school roof. Alternate Energy Equipment Coverage provides insurance protection for the repairs to the solar panels, as well as the additional costs of removing undamaged solar panels to repair the roof.
Breakdown: A Christian school installs a wind turbine and contracts with the local electric company to provide a certain amount of power each month. When the turbine breaks, the school fails to produce the agreed-upon amount of power. This results in a penalty from the electric company.