Solarif insurance is a specialized independent insurance broker and underwriting agency, entirely dedicated to solar. Solarif Insurance advises developers, EPC contractors and investors of all necessary insurances to protect their PV-projects. Manufacturers are advised about insuring their warranties and product liability. Solarif Insurance also takes care of the placement, the administrative process and handles the claim on your behalf.
Tailor made solutions!
Do you have one large project or several projects for which you need comprehensive insurance, please do not hesitate to contact us.
- Do you seek full security for your solar assets?
- Are you looking for solar insurance knowledge- and solutions?
- Are you searching for insured warranty?
From damage to payment: a casestudy
“On July 1st 2016 a heavy hailstorm happened in Someren, Noord-Brabant. A farmers’ roof, on which 1700 solar panels were located, was fully damaged by the hail. Damage on this installation rises up to €250.000,-, and the installation is shut down for several months.”
Are you curious as to which steps have to be taken when unexpected damage happens to your installation? In six steps, Solarif comes to the point of payment. What are those steps, and how much time passes before payment? Then check out our informative infographic through the link below!
Insured warranty: Inherent defect coverage!
Solar energy is sustainable, silent, safe, clean and financially attractive, but it is hard to judge the quality of used material with an unexperienced eye. There is a lot of difference in quality. How are you assured of a good performance of your installation in case of a damage due to inherent defect of your solar panels or inverters?
Surety bonds are insurance products that secure the financial risk of one party against the default of another party to the same contract. Most commonly this is associated with contractor default.
A bond or surety is a promise by guarantor (the surety company) to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract.
The surety bond protects the obligee against losses resulting from the principal’s failure to meet the obligation. With other words: the bond provides a guarantee that the bonded company or person will perform its obligations in good faith. Failure to do so may trigger a requirement that the surety company, who provided the bond, steps up in its place. In that case the surety company is obligated to find another contractor to complete the contract or compensate the obligee for the financial loss incurred.
There are four types of surety bonds; bid bond, payment bond, performance bond and ancillary bond.
Investors / asset owners
For investors / asset owners, we arrange all insurances necessary to protect their PV-installations and to secure their revenues as much as possible. Insurances provided are operational all risk insurance (material damage, business interruption and mechanical and electrical breakdown), inherent defect coverage (insured warranty) and coverage of political risk, political violence, terrorism, natural disasters and lack of sun.
For manufacturers we arrange third party warranty insurance supporting the manufacturer’s warranty in case of a valid claim and protecting the interest of customers in case of bankruptcy of the manufacturer. We can also arrange product liability insurance.
For EPC contractors we provide several insurance-solutions such as transport, construction all risk, operational all risk and liability insurances.
For project developers we arrange third party (public) liability insurance and professional liability insurance.