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What Is A Builders General Liability Insurance Policy?
When you work with a solar installer, you should have their full assurance of insurance on their equipment and the building that they build. There is a lot of different things that can go wrong when it comes to working with solar panels and the last thing that you need to have happen is for your solar installer insurance policy to kick in. Although most people would not have anything to worry about with regards to the actual insurance coverage, it is important to know that this is something that you will have to have for your contractor to be covered in the event of any accident or damage.
Most states have laws that will require you to have solar installer insurance. The main thing is to find a plan that has the coverage levels that you need for you and your workers. Usually, the states will base the level of the protection on your business' risk level as determined by them through the annual survey that is done. This is usually done based on the number of employees and the types of materials that you use. In many instances, the insurance companies will require that you have at least two high-risk workers in the company, along with one additional employee that is considered a medium-risk.
It may be harder to get a plan that will give you the right amount of insurance if you are not located in a state that requires this type of coverage, but you should still try. You can always try contacting the worker's comp board in your state to see what kind of limits they have on how much the business owner can pay each month for injuries to workers. There are states that will also require an annual re examination of the energy industry to make sure that the companies are doing everything they can to be safe. If the company fails to do so, then the state can force them into providing this protection to their employees. Having this type of protection on your side will help to protect you in case someone becomes seriously injured while working on your property.
There are other ways to ensure that you get the right type of insurance when you have solar installation work done. For instance, you may want to talk to other solar installation companies that are in the area. Chances are, they might be able to offer you a good quote, or even better yet, they might be able to insure your work under their own umbrella. Many insurance companies actually provide their customers with different discounts for helping them out.
Another way to get solar panel installer insurance is to consider becoming a self-employed contractor. While this may not be as easy as it sounds, it can be a great way to provide yourself with some financial protection. The best thing about this option is that the only paperwork that you will need to do is a form that will request the insurance company to insure your self-employed status. Usually, this is done simply because it is a requirement by the government. There are also some solar energy industry groups that may offer you different options regarding insurance packages and coverage amounts.
If you choose to become a self-employed solar installer, you may want to check with your local, state or federal governments to see if anything needs to be done. Most of these basic requirements will cost you a bit of money, but there are some that are required. For instance, your state or the federal government requires that you carry some type of renewable energy worker's compensation insurance. This insurance protects your job and family members who are accidentally injured while on the job. If you happen to get injured on the job, your company will help pay for your medical expenses and other benefits provided by your employer.
Most DIY solar installation contractors should have a general contractor's insurance policy. However, if the work is for a commercial building or structure, you should look into getting a special type of insurance called a Builders General Liability Insurance. This is a type of insurance that is designed specifically for commercial builders and building contractors. Many times these types of insurance companies will not specialize in home contractors. However, they do understand that more times than not, DIY solar installers have suffered injuries while doing projects themselves.
Before purchasing any policy, it is very important that you carefully assess the needs of your home and business. For instance, if you are working on structures or buildings, you will need a separate policy. On the other hand, if you are installing solar panels, you will probably only need your general liability insurance policy. You should ask your chosen company for more information about specific types of plans. As mentioned earlier, many installers only installers will purchase general liability insurance policy. These are the ones who are not licensed electricians and who will get their permits from their local authorities.