Solar Panel Installer
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If you're in this industry, you need to get prepared for the growth
Solar Panel Installer Insurance
By now, most people have noticed an increase in solar panels going up on the roofs of houses and businesses. Therefore, it's probably no surprise that the solar industry has increased by more than 30% since 2013, and that growth is set to improve even more in the near future. If you're in this industry, you need to get prepared for the growth by considering the kind of solar panel installer insurance coverage you should obtain.
$35 A Month
When you install solar panels for a living, you have to spend a lot of the workday on someone's roof and sometimes other parts of their property. This means that you have a chance of damaging the rooftop, driveway, or any other area you have to come in contact with in order to do your job. Luckily, the liability portion of your solar panel installer insurance will pay for this.
It will also pay for any injuries that occur to your customers if they trip over your solar products and equipment. Plus, if you are ever accused of stealing another company's ideas or committing slander or libel, liability coverage should pay for your legal fees.
Business Owners (BOP)
When you have a solar panel installer insurance policy, it's important for you to add a BOP to it. This combines a few helpful coverage types. Some examples of what this policy will pay for include electronic data processing, accounts receivable, and valuable papers and records. Additionally, if you have a business building where you store your solar panels and equipment, your BOP will pay for the repairs if it is ever damaged. It should pay to replace any items inside that are damaged, as well.
Working in this industry requires a lot of driving, and that's why your solar panel installer insurance policy should include commercial auto coverage. Whether you or your employees cause a car accident while driving to a customer's home to install panels, you need to know your insurance will pay for the claim. Personal auto insurance will not, so adding commercial auto coverage to your business insurance is a necessity.
When you require employees to climb up on rooftops most of the day, you're going to need workers comp if you want some peace of mind. If they fall off or even simply injure themselves on their equipment, you will be glad that their medical bills will be paid for with this addition to your solar panel installer insurance policy. This part of your business insurance will even pay for their lost wages if they need time to recover from their injuries, so both you and your employees will likely appreciate this coverage.
Your general liability coverage is not necessarily sufficient to pay for every lawsuit you might face. If you want to reduce the chance of having to pay out of pocket for a costly lawsuit, you should add excess liability to your solar panel installer insurance policy. You can typically add as much coverage as you think you need, all for a reasonable price.