A Renewable Energy Equipment Choice insurance policy from The Hartford will help cover physical damage to solar, photovoltaic, and geothermal equipment. This includes renewable energy equipment that is in the process of being installed or constructed as well as equipment that is operational.
Newly acquired alternative energy equipment is also automatically included on our renewable energy insurance policy. The Hartford understands that when a business purchases something like renewable energy equipment, that business may not get around to updating its policy immediately. That’s why The Hartford can extend coverage for new and replacement alternative power equipment for 45 days.
For example, if a business adds three more solar panels to its existing 10-panel installation, that business has plenty of time, 45 days, to update its Renewable Energy Choice insurance policy. In the meantime, those three additional solar panels are automatically covered under the business’s current Renewable Energy Equipment Choice insurance policy from The Hartford.
Buildings and a business’s personal property are also covered under a renewable energy insurance policy. This policy covers damage to or loss of an alternative energy business’s ancillary buildings or structures – even if they’re under construction during the time of loss. An alternative energy insurance policy also covers business personal property as well as business personal property that is in the policy holder’s custody and control, whether it’s located on or off premises, in storage facility or in transit.
The benefits of a renewable energy insurance policy are not limited to machinery and structures. The Hartford's Vegetative Roofing benefit can automatically provide up to $10,000 coverage for direct physical loss to a business’s trees, plants, lawns, sod and vegetative roofing.