Insurance for Renewable Energy Projects

With the world moving towards cleaner energy, renewable projects like wind farms, solar panels, and hydroelectric plants are becoming more important. These projects help make energy in a cleaner way, but they also face problems. That's where Construction All Risk Insurance (CAR) comes in to help.

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Get ₹1 crore cover starting at ₹6,500⁺ for a 1 year project

Get ₹1 crore cover starting at ₹6,500 ⁺ for a 1 year project

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Why is Insurance Vital for Renewable Energy Projects?

Financial Safeguard: Renewable energy projects often require significant investments. Insurance for renewable energy projects acts as a financial safeguard, covering the costs associated with damage, breakdowns, or delays, ensuring that the project remains financially viable.

Continuity of Operations: A delay in a renewable energy project can have cascading effects, impacting energy production and revenue. Construction all risk insurance for renewable energy projects helps expedite repairs or replacements, minimizing downtime, and ensuring the continuous flow of clean energy.

Flexibility and Comprehensive Coverage: Construction all risk insurance is tailored to the specific needs of the project, providing coverage for a wide range of risks, including damage to property, equipment breakdowns, and even third-party liabilities.

How Construction All Risk Insurance Helps in Case of Mishappenings?

In the event of unforeseen mishaps, Construction insurance for renewable energy projects offers immediate support to renewable energy projects:

Material Damage:

Contractors all risk cover protects against property loss, damage, or destruction from any cause, except specific exclusions in the policy.
It covers the cost of replacement or repair for such losses or damages, not exceeding the specified sum for each item or the total sum insured.

Third Party Liability:

Contractor all risk policy includes coverage for third-party liabilities.
This covers legal liability for accidental loss or damage to other people's property.
It also covers legal liability for injuries (fatal or non-fatal) to anyone other than the insured's own employees, workers, or the owner of the works or premises due to construction activities.

Insurance for Renewable Energy Projects

Why is Insurance Vital for Renewable Energy Projects?

How Construction All Risk Insurance Helps in Case of Mishappenings?

Material Damage:

Third Party Liability:

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