We can offer wind turbine insurance for wind turbines of all sizes, from individual turbines to wind farms with horizontal and vertical wind turbines. We will ensure a site visit is done so the policy can be tailored to your needs and that you are fully covered from construction and installation of the wind turbine/s through to the day to day operational insurance requirements.
You can take out two policies in respect of Wind Turbine Insurance; material damage cover and business interruption insurance.
The first is sudden and unforeseen damage which essentially covers the material damage to the turbine through a sudden or unforeseen event, such as a fire/lightning strike etc.
The second policy is for business interruption, or loss of income. Wind turbines generate an income from the power they supply back to the grid, if the turbine is damaged then you will lose the money until the turbine is operational again unless appropriately covered for this.
You need to have a material damage policy in place and any claims would need to have been accepted under this policy before you could claim under the business interruption policy so you can’t have the business interruption section in isolation, but you can take out just material damage covers.
There are various excesses and this is sometimes dictated by the size of the turbine, an increased voluntary excess will reduce the premium.
During Operational Phase:
All Risks Cover - Cover against damage to the wind turbine & associate equipment including perils, Fire, Lightning, Storm, Theft, Accidental & Malicious damage.
Breakdown Cover - Cover against costs of parts & labour following