The average commercial premium for a solar-energy policy is $5,000 to $15,000 a year, says William Dyer, commercial-lines coverage specialist and vice president and co-founder of HCP National Insurance Services Inc. in Aliso Viejo, Calif. Liability limits can reach up to $20 million for inland marine policies and up to $100 million for property, Dyer says.
HCP has about 15 renewable-energy customers nationwide, ranging from small side businesses to large solar-power plants. Clients include installers, who physically place wind turbines and solar panels for customer use, to alternate-energy generators that produce electricity.
Dyer urges clean-energy principals to talk to local insurance brokers who specialize in this area to make sure they are well covered. "Our biggest challenge is getting [renewable energy] policyholders to understand that what they have is not what they need," he says.
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