Solar Contractors Liability Insurance
Solar Contractors Liability Insurance – you can usually make an offer on a project without liability insurance. Chances are that when it comes to the time the work is going to be performed that you will need to produce proof of insurance to unpack your tools and get to work. If it is not the homeowner or the business owner, it may be the building owner or the local government that steps in with requirements.
How Much Does General Liability Insurance Cost for A Solar Installation Contractor?
The insurance costs for Solar Panel Installer varies based upon the amount of liability you need and the type of work you perform. It is not unusual that building owners require at least one million dollars in general liability insurance for solar panel installation contractors to get your foot in the door, in many cases that requirement can be much higher.
- When Castle Rock quotes a general liability insurance policy for a Solar Panel Contractor we will offer you several payment plans that should accommodate your budget.
- We will offer you options to keep your initial payments low, especially if you are a new company with limited capital resources.
- Typically, companies offer payment plans that allow you to pay off the policy over the course of the year in 9 or 10 payments after a deposit.
Solar Contractors Liability Insurance Policy Coverages
Commercial General Liability Insurance (CGL) is the focus of a slew of law suits. Accordingly, there are many things you need to know about securing a Commercial General Liability Insurance Policy for aSolar Panel Installation Contractor Operation. Although this coverage helps to protect you and your company’s assets by providing a layer of defense against several types of suits including negligence, there is a lot to know. That is what your Castle Rock Agent is here for. By covering the cost of defending or settling these claims and the award that may be handed down to the claimant, your Electrician’s General Liability Insurance policy can help you keep your business in business.
Coverages Liability:
Solar Contractors Liability Insurance usually covers Five basic categories of business liability:
Bodily Injury
Physical harm to a person at your place of business, or an injury caused by your employee at a client’s site.
Completed Operations/Products Liability
Losses after your business has completed work for a customer (such as repairing appliances or installing wiring), or from distributing products.
Personal Injury
Damage to the reputation or rights of a person or business due to slander, libel, copyright infringement, invasion or privacy, false arrest, wrongful eviction, etc.
Advertising Injury
Losses caused by your advertising (spoken or written); for example, an ad that trashes a competitor.
Medical Payments
Pays the medical expenses of a person injured on your premises (a customer, client, visitor, or even a trespasser) up to a stated amount, regardless of fault — as a goodwill gesture to prevent lawsuits.
Independent Contractors Liability (Available)
Damage from the acts of an independent contractor hired by your business.
Property Insurance
Insurance coverage for your solar panel installation tools, your inventory, equipment and even office equipment for your business.
For Solar Panel Installation Contractors the above insurance coverages are usually sufficient.
For GENERAL CONTRACTORS in New York, the one coverage typically NOT INCLUDED, but perhaps the MOST IMPORTANT is the following.
Injuries to Sub Contractors Liability Coverage
If you are a General Contractor and sub out Solar Panel Installation Work and Don’t Have it or never heard of it you need to call us immediately.
Damages Covered Your General Liability Insurance Policy will pay damages for the following:
Compensatory Damages
Financial losses of the claimant, plus additional monetary losses resulting from the claim. These included damages for bodily injury and property damage.
On-the-job injuries to employees Workers Compensation
Operating autos or trucks in your business Business Auto Policy
Coverage for tools, inventory or equipment, these can be added under a Property Insurance Policy or an Inland Marine Tool Floater.
