Energy Storage All Risks Insurance
Carefree Investing in Energy Storage Systems!
With our specialized Energy Storage All Risks Insurance, you can protect your energy storage system (ESS) against unexpected damages due to extreme weather, fire, theft, vandalism and mechanical defects, including production loss.
Request a quote today and invest in your energy storage system with peace of mind.
What is Energy Storage All Risks Insurance?
Energy Storage All Risks Insurance covers material damage and loss during the operation of an energy storage system caused by external factors such as fire, vandalism, theft, natural disasters, operational errors, and damage resulting from mechanical defects.
Additionally, the insurance also covers production loss caused by the damage.
What is Covered by the Energy Storage All Risks Insurance?
Material Damage
Protection against external damages resulting from, among other natural disasters, fire, vandalism, theft, and mechanical defects. Includes consequential costs such as labour and transport costs.
Production Loss
Compensation for loss of income due to business interruption caused by an insured damage or loss. The payout period is usually 6 or 12 months.
Required Information for Energy Storage All Risks Insurance?
Below is a summary of the essential information insurers typically require for risk underwriting:
- Detailed system designs and specifications.
- Information about the configuration and capacity of the system.
- Inverter details (brand, type, and technical specifications).
- Brand, type, and number of batteries.
- Brand, type, and technical specifications of the components used.
- Exact location, environmental conditions, and details of location-related risks.
- Product and other legally required certifications.
- Maintenance plan and safety protocols.
- Investment value (CAPEX).
- Factory and other warranties or guarantees.
- Expected power output, including calculations.
- Monitoring and reporting methods.
- Liability limitations.
- Overview of damage history.
- Information on existing insurance policies and coverages.
- Details of security systems against theft and vandalism.
- Details of safety measures.
- Procedures for emergencies and malfunctions.
Why Choose Energy Storage All Risks Insurance?
Unexpected events can disrupt your energy storage system, resulting in costly repairs, replacements, and revenue loss.
With our Energy Storage All Risks Insurance, you gain comprehensive coverage against diverse risks, ensuring financial security and peace of mind.
Invest confidently, knowing you’re protected against the unexpected.
Important Considerations
- Deductible
A deductible applies per claim
- Exclusions
Intentional acts, gross negligence, or regulatory non-compliance are not covered.
- Standards and Regulations
- Comply with standard PGS 37-1
- Consider fire detection, delivery, and emergency plan requirements.
- Some municipalities and provinces require ESS installation notifications.
Secure Your Energy Storage System During Construction!
It’s crucial to properly insure your Energy Storage System, not just during operation, but also during the construction.
With a Construction All Risks Insurance, you’re protected against unexpected risks such as damage from fire, theft, and natural disasters during construction.
This helps you avoid additional costs and ensures your project progresses as planned.
Scope 10 inspection
To be able to take out an Energy Storage All Risks Insurance, insurers often require a Scope 10 inspection.
Therefore, in addition to our Energy Storage All Risks Insurance, we offer the option to perform the required Scope 10 inspection for you. Our certified Scope 10 inspectors thoroughly inspect your energy storage system and provide a detailed report of their findings.
The Scope 10 inspection ensures a safely operating energy storage system.
Start the Conversation with Solarif!
Protect your investment and ensure the continuity of your Energy Storage System with our Energy Storage All Risks Insurance.
Interested in a risk assessment and a tailor-made quote?
Frequently Asked Questions
In addition to an Energy Storage All Risks Insurance, it is wise to take out the following insurances for optimal coverage:
- Business Liability Insurance
Protects against third-party damage claims resulting from incidents with your ESS.
- Cyber Insurance
Covers damage and financial losses due to cyberattacks on your energy storage system.
- Environmental Damage Insurance
Reimburses costs for environmental damage caused by your energy storage system.
- Storage Warranty Cover
Protects the product and performance warranty of your energy storage system throughout the entire warranty period, even if the manufacturer goes bankrupt.
Consult our insurance advisors for tailored advice and the right coverage for your specific situation. Contact us.
An indoor energy storage system is considered part of the building by insurers. Therefore, an ESS is not covered under an inventory or household contents insurance but must be included under the building or property insurance of the building owner.
An outdoor ESS is not covered under the standard building or property insurance. Instead, the system must be insured through an operational all risks insurance or a machinery breakdown insurance.
In summary, for an indoor ESS, the building or property insurance must be adjusted to cover the system, while an outdoor ESS must be covered by an operational all risks insurance or a machinery breakdown insurance.
- Note the date and time of the damage.
- Report the damage as soon as possible.
- Take measures to limit further damage.
- Keep receipts of the costs for any measures taken.
- Do not discard damaged parts until they have been released by the insurer.
- Take clear photos of the damage.
- Gather information: Ensure you have all the necessary information about your installation.
- Contact us: Call us or use our contact form.
- Risk Assessment: Schedule an intake conversation to map out your risks and needs.
- Arrange a quote: We compare quotes from different insurers.
- Make a choice: Choose the best quote and take out your policy.
- Policy: Receive your policy.
In addition to an Energy Storage All Risks Insurance, it is wise to take out the following insurances for optimal coverage:
- Liability Insurance
Protects against third-party damage claims resulting from incidents with your ESS. - Cyber Insurance
Covers damage and financial losses due to cyberattacks on your energy storage system. - Environmental Damage Insurance
Reimburses costs for environmental damage caused by your energy storage system. - Storage Warranty Cover
Protects the product and performance warranty of your energy storage system throughout the entire warranty period, even if the manufacturer goes bankrupt.
Consult our insurance advisors for tailored advice and the right coverage for your specific situation. Contact one of our advisors!
