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Home » Why Your Solar Business Needs Mechanical Breakdown Coverage
June 2, 2021
Agency

Why Your Solar Business Needs Mechanical Breakdown Coverage

Guest Blog by Steve Rossi 

I have had many conversations with Solar operators concerning mechanical breakdown. I would like to share an example from one of our insureds.

Our insured installed a solar power generating system capable of producing revenue of approximately $40,000 average per month. The transformer which was connected between the inverter and utility grid was damaged by an electrical breakdown; while the transformer itself was under $20,000, it was custom manufactured for the specific use and a replacement unit required approximately 3 months to obtain. During the downtime period, revenue loss from the system was 100%.

Under mechanical breakdown coverage the replacement transformer was replaced and loss of income was paid by the insurance carrier. The insured had a $2500 deductible.

I am an insurance agent who shares your passion for solar and renewable energy. I am active in the space and have put together special Insurance programs to cover the needs of Solar Contractors while reducing their overall insurance costs.

roof with solar panels

Contact me if I can answer any questions or you need a second opinion on your current program at stever@paris-kirwan.com

Categories: Business Insurance

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