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With rising energy costs and a growing focus on sustainability, many businesses are choosing to install solar panels on their premises.

Solar energy can be a great investment, helping organisations reduce reliance on traditional energy sources, lower running costs and work towards environmental targets. But once your panels have been installed, there’s an important question to ask…are they properly insured?

Many business owners assume that because their building is insured, any solar panels added to the property will automatically be covered. However, this isn’t always the case.

Installing solar panels can change your insurance requirements. Your insurer may need to know about the installation, the value of the equipment, where it is located and how it affects your property.

If your insurance hasn’t been updated, you could discover there are gaps in your cover when you need it most.

It’s also important to think beyond damage to the panels themselves. What would happen if your system stopped generating power? How long would repairs take? Would specialist parts be required? Could there be additional costs while your system is unavailable?

Solar panels and associated technology, such as battery storage and monitoring systems, can represent a significant investment. To protect that investment, it’s important to make sure your insurance reflects how your business operates today. Before assuming your solar panels are covered, it’s worth checking your policy and getting professional advice. A quick conversation today could prevent a much bigger problem tomorrow.

A specialist insurance broker, like Prizm Solutions can review your existing policies and help identify whether your renewable energy equipment is correctly covered. There’s no charge to chat to one of our experienced team, so whilst you’re on the phone feel free to ask us anything about insurance, or even double-check that all your other insurance policies are up-to-date and ready to provide you with the cover you need should anything hit the fan. 

Renewable technology is helping businesses become more efficient and sustainable, but it’s important that your all insurance policies evolve alongside your business.

As well as covering renewable energy equipment, Prizm Solutions covers a whole range of other business and personal insurance needs, including Landlords (Property Owners) Insurance, Office Contents Insurance, Public Liability Insurance and Cyber Insurance.  Just get in touch for more details, we’re always happy to help.