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Renewable Energy Insurance: Cost & Quotes From $11/month

For your best business protection and savings, we recommend bundling GL with some other important coverages on one Business Owners Policy!

For your best business protection and savings, we recommend bundling GL with some other important coverages on one Business Owners Policy!

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Table of contents
1. Who is Renewable Energy Insurance Designed For?2. General Liability Insurance for Renewable Energy Businesses2.1. How Does General Liability Insurance Protect You?2.2. In What Situations Can General Liability Insurance Help a Renewable Energy Business?2.3. What Are the Common Limits of General Liability Insurance for Renewable Energy Businesses?2.4. Will General Liability Insurance Cover My Solar Panels, Wind Turbines, and Other Business Equipment?3. Professional Liability Insurance for Renewable Energy Business3.1. Does Professional Liability Insurance Only Cover Negligence Claims Filed Against Your Renewable Energy Business?3.2. Does Professional Liability Insurance Cover Lawsuits for Environmental Damage as a Result of Alleged Negligence?3.3. I Own a Solar Farm. I Plan to Hire a Solar Panel Installation Company. What Can I Do to Protect Myself From Any Issues They Might Cause During the Project?4. Pollution Liability Insurance for Renewable Energy Businesses4.1. What Are Some Situations Where Pollution Liability Insurance Can Help?4.2. What Costs Does Pollution Liability Insurance Cover?5. Cyber Liability Insurance for Renewable Energy Businesses5.1. Does Cyber Liability Insurance Cover the Destruction of Software and Important Files Following a Covered Peril?6. Commercial Property Insurance for Renewable Energy Businesses 6.1. How Does Commercial Property Insurance for Renewable Energy Businesses Work?6.2. Can Your Renewable Energy Business Use Commercial Property Insurance to Cover Damage or Destruction Caused by War or Terrorism?6.3. Will Commercial Property Insurance Cover Third-Party Properties in My Custody?6.4. Does Commercial Property Insurance Cover Business Property in Transit? 7. Business Owner’s Policy for Renewable Energy Businesses7.1. Why is It Better to Go for a Business Owner’s Policy?7.2. Can You Add Optional Policies to a Business Owner’s Policy?8. Workers' Compensation Insurance for Renewable Energy Businesses 8.1. What if I Can Provide Workers Comp Benefits on My Own, Do I Still Need to Get Worker's Compensation Insurance?9. Commercial Auto Insurance for Renewable Energy Businesses 10. Builder's Risk Policy for Renewable Energy Businesses11. Umbrella Liability Insurance for Renewable Energy Businesses 12. More Things You Should Remember13. Will Renewable Energy Insurance Grant Coverage if I Involve Myself in Oil and Gas Activities?14. Renewable Energy Insurance Cost15. Best Renewable Energy Insurance Companies15.1. NEXT Renewable Energy Insurance 15.1.1. Pros15.1.2. Cons15.2. CoverWallet Renewable Energy Insurance 15.2.1. Pros15.2.2. Cons15.3. Tivly Renewable Energy Insurance 15.3.1. Pros15.3.2. Cons15.4. Travelers Renewable Energy Insurance 15.4.1. Pros15.4.2. Cons15.5. The Hartford Renewable Energy Insurance 15.5.1. Pros 15.5.2. Cons 

As a renewable energy business, chances are you've invested significantly into tapping the growing consumer interest in cleaner energy alternatives. But despite how enticingly promising this landscape is, it's just as risky. This means that if you are in the production and distribution of renewable energy, you're susceptible to project risks that can take a significant toll on your finances and reputation.

Given the implications of lacking protection, you want to invest in renewable energy business insurance. Read on to understand how a renewable energy insurance policy could be the competitive advantage you need while dealing with different exposures.

Who is Renewable Energy Insurance Designed For?

Renewable energy insurance is an insurance program that’s underwritten for wind power plants, biomass power plants, commercial solar panels and solar farms, geothermal power plants, and biodiesel manufacturing plants. Also called alternative energy insurance, this consists of liability, commercial property, workers' compensation, and other types of business insurance solutions. 


General Liability Insurance for Renewable Energy Businesses


CoverWallet NEXT (Best)The Hartford 
Per occurrence limit $1,000,000$300,000/$1,000,000$1,000,000/$2,000,000
Aggregate limit $2,000,000$1,000,000/$2,000,000$1,000,000/$2,000,000
Products and completed operations aggregate limit $2,000,000
$1,000,000$1,000,000
Advertising injury coverage aggregate limit $1,000,000$1,000,000$1,000,000
Tenant’s legal liability coverage limit $100,000
$100,000$100,000
Waiver of subrogation included?YesNoIncluded
Hired/non-owned auto liability coverage included?YesNo$1,000,000
Equipment breakdown floater included?No YesYes
Can you get a certificate of insurance online?YesYesYes
Name additional insureds?YesYes
Yes
Deductible$0$0$0


Renewable energy businesses are heavily regularized by government authorities. This is because the use of chemicals, machines, and other facilities can endanger the public. 

Third parties can file a claim if they sustain injuries or property damage because of an accident that happened on the site of your renewable energy project. Taking care of this exposure is general liability insurance. 

Use the table above to see which insurance company offers the best general liability policy. 


How Does General Liability Insurance Protect You?

General liability insurance takes care of these expenses if clients, homeowners, civic groups, and government authorities hold your renewable energy business liable for property damage and bodily injuries:

  • Medical treatments

  • Reimbursement to the damaged properties

  • Attorney fees, court filing fees, and other legal expenses

  • Court judgments


In What Situations Can General Liability Insurance Help a Renewable Energy Business?

General liability insurance can sort things out when the following happens:

  • An independent contractor files a claim after sustaining injuries while repairing equipment or building a structure 

  • A government inspector gets exposed to chemicals, falls from a height, or had his valuables damaged while on the premises of your renewable energy project

  • Equipment accidentally injured students who were conducting a field trip at your site


What Are the Common Limits of General Liability Insurance for Renewable Energy Businesses?

Renewable energy businesses can avail a general liability policy with a $1 million-$2 million per occurrence and aggregate limit. It’s possible to get a higher limit upon your request to the insurance company. 


Will General Liability Insurance Cover My Solar Panels, Wind Turbines, and Other Business Equipment?

A general liability policy added with a business equipment endorsement can help recover the value of solar panels, wind turbines, and other business equipment that was damaged or destroyed. However, the reimbursement you’ll get is very limited. 


Professional Liability Insurance for Renewable Energy Business


CoverWallet (Best)NEXT The Hartford
Per occurrence limit $1,000,000$1,000,000$1,000,000/$2,000,000
Aggregate limit $2,000,000$2,000,000$1,000,000/$2,000,000
Name additional insureds?YesYesYes
Waiver of subrogation included?YesNoNo
Deductible $500$500$500


Renewable energy businesses can face heavy financial losses due to negligence lawsuits. 

For example, a solar farm had to pay $6.5 million in a negligence lawsuit filed for flooding and property damage. Another is a wind farm who faced a $750,000 negligence lawsuit due to excessive noise that comes from its facility. 

You can protect your renewable energy business against negligence claims by purchasing professional liability insurance. Use the table above to see which insurance company offers the best professional liability policy. 


Does Professional Liability Insurance Only Cover Negligence Claims Filed Against Your Renewable Energy Business?

While negligence claims are the most common exposures covered, professional liability insurance doesn’t limit itself to them. You can also use professional liability insurance to cover lawsuits and accusations of:

  • Misrepresentation

  • Violation of good faith

  • Violation of fair dealing

  • Breach of contract


Does Professional Liability Insurance Cover Lawsuits for Environmental Damage as a Result of Alleged Negligence?

No. Your responsibility for environmental damage falls out of the scope of professional liability insurance. Pollution liability insurance will take care of this exposure for you. 

I Own a Solar Farm. I Plan to Hire a Solar Panel Installation Company. What Can I Do to Protect Myself From Any Issues They Might Cause During the Project?

The independent contractor will surely have a solar installation insurance package with a professional liability policy. Ask them to add you as an additional insured. This way, their insurance will also cover you if issues arise during and after the project. 


Pollution Liability Insurance for Renewable Energy Businesses

The use of solar panels, wind turbines, or any other equipment for a renewable energy project can affect the environment and wildlife.

Pollution liability insurance must be part of your renewable energy business insurance package. This will take care of environmental liability as a result of negligence or mistakes committed by your business, its employees, and subcontractors. 


What Are Some Situations Where Pollution Liability Insurance Can Help?

Here are some situations where pollution liability insurance can cover your renewable energy business:

  • Defective solar panels were improperly dumped to an open area

  • Your wind turbine generator exploded. It caused a wildfire and left debris

  • A geothermal reservoir experienced structural failure. This flooded the surrounding area and killed wildlife


What Costs Does Pollution Liability Insurance Cover?

Pollution liability insurance will cover the following costs if authorities, civil groups, and individuals file a lawsuit for environmental damage against your business:

  • Legal expenses

  • Public relations

  • Debris removal

  • Environmental restitution

  • Medical treatments if third parties got injured due to the pollution your business allegedly caused


Cyber Liability Insurance for Renewable Energy Businesses

Don’t forget about cyber risks. Your renewable energy business might be a victim of data breach, malware, ransomware, denial-of-service, and other cyber attacks. 

Taking care of these exposures is cyber liability insurance. Cyber liability insurance will help you cover legal expenses, public relations,  lost income, professional services, and credit monitoring if a covered peril happens.


Does Cyber Liability Insurance Cover the Destruction of Software and Important Files Following a Covered Peril?

Yes. Cyber liability insurance comes with an electronic data loss coverage. This will cover the cost of recovering OpenWind, Windographer, PV-F Chart, and other software as well as important files that got lost or damaged after a data breach or any other covered peril happened.

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Commercial Property Insurance for Renewable Energy Businesses


CoverWalletNEXT (Best)The Hartford
Building coverage limit (minimum)$50,000$300,000$25,000
Contents coverage limit (minimum)$50,000$25,000$15,000
Outdoor signsExcluded$2,500Included
Accounts receivableExcludedExcludedIncluded
Money and securitiesExcluded$2,500Included
Lock and keysExcluded$2,500Included
Business interruption floaterExcludedIncludedIncluded
Equipment breakdown floaterExcludedIncludedIncluded
Inland marine insurance floaterExcludedExcludedExcluded
Employee dishonesty floaterExcluded$5,000Excluded


A renewable energy business can’t run without buildings, facilities, and structures. And so, aside from liability risks, you also face property risks. What takes care of these is the commercial property policy of your renewables insurance package.

Use the table above to see which company offers the best commercial property insurance.


How Does Commercial Property Insurance for Renewable Energy Businesses Work?

Commercial property insurance will allow you to recover financial losses and cover repair or reconstruction expenses if the buildings, facilities, and structures get damaged or destroyed by:

  • Fire

  • Theft

  • Vandalism

  • Riot

  • Civil commotion

  • Lightning

  • Weather

  • Impact

  • Falling objects

  • Sinkhole collapse

  • Volcanic action

  • Aircraft

  • Vehicle


Can Your Renewable Energy Business Use Commercial Property Insurance to Cover Damage or Destruction Caused by War or Terrorism?

The answer is no. War or terrorism is usually excluded in the language of commercial property insurance. So are earthquakes, floods, and mudslides. Ask the insurance company if they have endorsements for commercial property insurance that cover these exposures.


Will Commercial Property Insurance Cover Third-Party Properties in My Custody?

Commercial property insurance comes with a care, custody, and control exclusion. Therefore, it doesn’t cover the properties of third parties in case a covered peril happens in the premises of your renewable energy business. You can solve this gap by including a CCC endorsement in your commercial property insurance.


Does Commercial Property Insurance Cover Business Property in Transit?

Equipment and any other property that’s owned by your renewable energy business and currently in transit isn’t covered by commercial property insurance.

The policy that provides protection instead is inland marine insurance.

This is an endorsement or stand alone coverage that will recover the value of items that got lost or damaged during transit due to theft, vandalism, upset, vehicular accident, and other covered perils.


Business Owner’s Policy for Renewable Energy Businesses


CoverWalletNEXT (Best)The Hartford
General liability aggregate limit$2,000,000$1,000,000/$2,000,000$1,000,000/$2,000,000
Commercial property coverage limit$50,000$300,000$25,000
Optional policies can be added?YesYesYes
Name additional insureds for free?YesYesYes
BOP discount?YesYesYes


A business owner’s policy allows you to bundle general liability insurance and commercial property insurance. That said, it helps you avoid wasting money by purchasing liability coverage and property coverage separately. Use the table above to see which insurance company offers the best business owner’s policy for renewable energy businesses.


Why is It Better to Go for a Business Owner’s Policy?

Going for a business owner’s policy is better than buying general liability and commercial property insurance separately because you’ll enjoy a 10%-15% discount on premiums.


Can You Add Optional Policies to a Business Owner’s Policy?

The business owner’s policy for renewable energy businesses can be added with cyber liability coverage, hired/non-owned auto liability coverage, inland marine coverage, and business equipment coverage.


Workers' Compensation Insurance for Renewable Energy Businesses

To run a successful renewable energy business, you are going to need to create a renewable energy team drawn from a pool of specialists. That essentially elevates your business status to an employer, which unfortunately attracts its own set of risks.

An insider tip would be to have your provider of choice include employment practices liability insurance (EPLI) as part of your workers' compensation insurance.

The EPLI offers your renewable energy business protection against employee-related lawsuits. This means that if an employee were to sue you for anything from sexual harassment, wrongful termination, or discrimination at the workplace, the policy would cover the cost of the lawsuit and any resulting judgments.


What if I Can Provide Workers Comp Benefits on My Own, Do I Still Need to Get Worker's Compensation Insurance?

There’s no need to get workers' compensation insurance if you get approval from the state to self-insure. If the opposite is true, then you still need to get a workers' compensation policy.


Commercial Auto Insurance for Renewable Energy Businesses

To cover the trucks, cars, and vans you use to dispense your duties, you want to get a commercial auto policy. A comprehensive commercial auto policy will:

  • Cover the medical treatment of third parties who sustained injuries in an accident your commercial vehicle caused

  • Cover the medical treatment of the driver and passengers of your commercial vehicle

  • Cover the repair or replacement of the commercial vehicle’s parts in case of damage as a result of fire, theft, collision, weather, and other covered perils

  • Cover the repair or replacement of trailers and other attachments to the commercial vehicle


Builder's Risk Policy for Renewable Energy Businesses

Also referred to as course of construction insurance, this product helps protect any installation that you take part in as a renewable energy business. If, for instance, you were installing wind turbines and these were affected by extreme weather, the carrier would offer you compensation for any damage. Essentially, the builder's risk policy protects your materials, supplies, and any equipment or inventory you might have on-site.


Umbrella Liability Insurance for Renewable Energy Businesses

Umbrella liability insurance will help if a claim is too costly. If your professional liability insurance or general liability insurance lacks the necessary funds to fully cover a claim, umbrella liability insurance will provide additional coverage so that you don’t cover any excess costs. You purchase this insurance in $1 million increments.


More Things You Should Remember

As we close off the discussion on what insurance products you want as part of your renewable energy insurance package, it is important to point out that you want to stay vigilant about the exclusions in your policies. Discuss with your carrier what risks will not be covered within the different policies that you purchase.

A major one to check out for is the "care, custody, and control" exclusion. This means that any tools, equipment, or any other property that third parties entrust to you aren’t covered unless an endorsement is purchased.

Another area of concern is the coverage gaps present when it comes to hired services. In your case, these would be subcontractors you've brought on in a project. Some carriers will not cover any harm that comes to these subcontractors, any damage they cause, or any other claims filed against them.


Will Renewable Energy Insurance Grant Coverage if I Involve Myself in Oil and Gas Activities?

No. As already evident by its name, renewable energy insurance doesn’t cover oil and gas activities. The inclusions are tailored to risks unique in the design, construction, and installation of wind power plants, solar power plants, and other related businesses. You need to purchase separate oil and gas insurance for coverage to apply.

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Renewable Energy Insurance Cost


Cost per MonthCost per YearDeductible
General liability insurance$190$2,280$0-$500
Professional liability insurance$210$2,520$0-$500
Commercial property insurance$230$2,760$1,000-$2,500
Business owner’s policy$300$3,600$500-$1,000
Workers compensation insurance$260$3,120$2,000-$5,000
Cyber liability insurance$215$2,580$1,000
Commercial auto insurance$200$2,400$1,000
Umbrella liability insurance$195$2,340$500-$1,000
Builders risk insuranceDepends on the value of the property to be coveredDepends on the value of the property to be covered$500-$1,000
Inland marine insuranceDepends on the value of the property to be coveredDepends on the value of the property to be covered$500-$1,000

The average renewable energy insurance cost is $190 per month or $2,280 per year for a $1 million general liability policy. There are a few factors that will determine how much you pay. This includes:

  • Location of your renewable energy business

  • Scope of projects undertaken

  • Claims history

  • Past losses and loss trends

  • Type and amount of coverage purchased


Here's a list of the best renewable energy insurance companies in the market. Take a look at it to know their selling points and the cost of their $1 million general liability insurance:


Cost per MonthCost per YearBest for
NEXT$70$840Best overall; Fastest general liability insurance for renewable energy businesses
CoverWallet$90$1,080Comparing insurance quotes for renewable energy businesses online
Tivly$105$1,260Comparing renewable energy insurance quotes over the phone
Travelers$115$1,380Inland marine insurance for renewable energy businesses
The Hartford$125$1,500Umbrella liability insurance

Compare Cheap Renewable Energy Insurance Quotes Online

Get all the best quotes from leading providers in a click of a button!

Best Renewable Energy Insurance Companies

Whether you are a solar start-up or a listed fuel cell company, it's evident that you simply cannot afford to sideline renewable energy insurance. But identifying the need for said insurance is only the first step. You've got to also zero in on the renewable energy insurance company to partner with.

Your individual business needs should be your guiding light when shopping for your renewable energy insurance provider. 

If you have an appetite for ambitious renewable energy projects, you should shop for an insurer with good financial standing. 

If you are working with a constrained budget, you ought to zero in on renewable energy insurance companies that offer low premiums while still providing precise protection. 

To aid in your search, here's a list of the best renewable energy insurance companies for your consideration. Read some of the reviews below to know their pros, cons, and cost of a $1 million general liability insurance. 


NEXT Renewable Energy Insurance

Pros

  • Best overall

  • Issues an online proof of insurance instantly

  • Fastest general liability insurance for renewable energy businesses

  • Great customer service and reputation

  • Excellent rates

  • Outstanding value for money

  • Get a 10% discount if you buy two or more policies 

Cons

  • Couldn’t find any 

NEXT doesn’t have a renewable energy insurance package. However, you can get covered through its generic coverage for manufacturing businesses that offer the following:

  • $1 million-$2 million general liability insurance

  • $300,000 commercial property insurance

  • $1 million professional liability insurance

  • Workers compensation insurance

NEXT can provide an online quote. However, it might refer you to its partner, Tivly, if your business profile is poor. 

Best for: Best overall; Fastest general liability insurance for renewable energy businesses

Average cost: $70 per month

Our rating: 10/10


CoverWallet Renewable Energy Insurance

Pros

  • No hidden charges

  • Cancel your coverage anytime

  • Compare renewable energy insurance quotes online

  • Easy online policy management 

Cons

  • Not an insurance company but an insurance broker

CoverWallet will cover you through its power and communication lines insurance package. Since this company is just a broker, the policies you’ll get will come from third parties.

Coverage options include a general liability policy, business owner’s policy, commercial auto, workers comp, and more. CoverWallet allows you to bundle different types of insurance through its custom plan. 

Best for: Comparing insurance quotes for renewable energy businesses online

Average cost: $90 per month

Our rating: 10/10


Tivly Renewable Energy Insurance

Pros

  • A partner of many reputable insurance companies

  • Call and compare quotes over the phone

  • Responsive customer service

Cons

  • You need to call to get a quote

Tivly partners with numerous insurance companies to grant adequate coverage for renewable energy businesses. It doesn't offer a fixed quote. Instead, coverage features will depend entirely on your business profile. That said, call and talk with a Tivly representative to compare quotes and know the specifics of your insurance package. 

Best for: Comparing renewable energy insurance quotes over the phone

Average cost: $105 per month

Our rating: 10/10


Travelers Renewable Energy Insurance

Pros

  • Solid financials 

  • Allows you to increase limits 

  • Add-on policies are made available 

  • Travelers has a number of online tools and other innovative features that make policy management a breeze 

  • Policies can be canceled at any time, either via email or over the phone 

Cons

  • Few discount options 

The renewable energy insurance package from Travelers is available to all entities within the niche regardless of the size of the operation. The core products include:

  • Inland marine coverage sold as a specialty product SolarPak 

  • Commercial general liability

  • Permanent property and operations coverage

  • Builder's risk coverage

Unfortunately, this carrier doesn't offer further details on the limits for each of these. Prospective policyholders are encouraged to get in touch via mail or phone call, where they will discuss their needs with an agent. This agent will ask for detailed information on the business before they can present the client with a quote.

Best for: Inland marine insurance for renewable energy businesses

Average cost: $115 per month 

Our rating: 9/10


The Hartford Renewable Energy Insurance

Pros 

  • 24/7 claims reporting 

  • Specialized claims handlers

  • Available in 50 states 

  • Experienced claims and legal assistance for favorable outcomes 

  • Customized claims and risk engineering services 

  • Coverage in over 200 countries 

Cons 

  • Not a BBB-accredited business

The Hartford has emerged as one of the top-rated carriers in the renewable energy insurance niche. When it comes to the latter, The Hartford has a number of focus areas. These include:

  • Power generation and utilities

  • Renewables like geothermal and biomass

  • Midstream, including natural gas processors and pipeline operators

  • Upstream

  • Mineral mining


However, the policy explicitly excludes the following:

  • Long haul transportation of tools, equipment, and inventory

  • Offshore driven operations

  • Wastewater and hazardous waste hauling


At The Hartford, policyholders can expect tailored renewable energy business insurance coverage. Options available to you include:

  • Commercial auto which includes an upset and overturn extension to cover any cleanup from an upset or spilled product during renewable energy business-related activities. Additionally, employees are considered to be additional insureds if they use their personal vehicles in any project-related activities

  • General liability coverage which can include a per-project or per-location aggregate limit. You can also request to have blanket additional insured coverage and a time element pollution endorsement

  • Workers' compensation coverage that's essentially a broad form endorsement covering any claims from employees

  • Commercial umbrella coverage with an up to $15 million policy limit.

 

Best for: Umbrella liability insurance

Average cost: $125 per month 

Our rating: 8/10


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