Comprehensive Guide to Solar Power Plant Insurance Coverage and Purchasing Methods

Insurance Coverage and Purchase Methods for Photovoltaic Power Plants

Introduction: Based on the characteristics and channel regulations of the photovoltaic insurance market in 2025, this guide provides practical insights on what can be claimed and how to purchase insurance.

1. Scope of Claims for Photovoltaic Power Plant Insurance

The scope of claims varies significantly depending on the type of insurance. By 2025, mainstream products have formed a comprehensive coverage system that includes basic property, liability, and special losses. The key lies in the protection combination selected at the time of purchase:

• Equipment Damage Insurance: Core protection for the entire lifecycle of equipment.
  Covered situations: This includes photovoltaic panels, inverters, brackets, cables, and more. It covers damages during transportation, installation, and operation caused by mechanical failures (e.g., inverter short circuit), electrical faults (e.g., cable burn), fire, lightning, etc. Repair or replacement costs are covered. For example, if a lightning strike damages a photovoltaic panel or if an inverter is submerged in heavy rain, these are covered.
  Exclusions: Claims will not be honored for damages due to manufacturing defects, excessive wear and tear, or intentional damage.
• Natural Disaster Insurance: Specifically covers losses from extreme weather.
  Covered situations: Damages caused by natural disasters such as earthquakes, floods, typhoons, hailstorms, and sandstorms. Compensation is based on actual losses, and total losses can be compensated at replacement cost. For instance, if a typhoon causes a collapse of the bracket or snow damages the photovoltaic panels in northern regions, these situations qualify for claims.
  Note: Some products may have a separate deductible for severe disasters like earthquakes and tsunamis (typically 5%-10%). It’s essential to confirm regional compatibility when purchasing.
• Operational Interruption Insurance: Compensates for economic losses during downtime.
  Covered situations: If the power station is non-operational due to equipment failure or natural disasters for more than the agreed period in the policy (usually 72 hours), compensation for lost electricity generation and income can be claimed. For example, if an inverter failure causes a 10-day shutdown, compensation will be calculated based on average daily output multiplied by the electricity price.
  Claims requirement: Documentation proving the reason for shutdown (e.g., repair report), and income records from the previous three months must be provided.
• Third-Party Liability Insurance: Covers risks associated with external liabilities.
  Covered situations: If injuries to third parties or property damage occurs during the construction or operation of the power station, such as a falling bracket damaging a neighbor’s house or electrical leakage injuring a passerby, the insurance company will be liable for compensation.
  Exclusions: Losses due to intentional acts or illegal actions by the policyholder will not be compensated.

2. Purchasing Methods for Photovoltaic Power Plant Insurance

For Family/Small Power Plants (≤50MW): Three online methods are available:

• Insurance Company Website/App: Fill in the power plant information and submit documentation on the official websites of insurance providers like PICC, Ping An, or Pacific Insurance, pay, and obtain the policy.
• Third-Party Platforms: Use platforms like Wobao or Ant Insurance to compare options and select a plan.
• Equipment Vendors: When purchasing components from companies like Longi or Jinko, consider adding insurance.

For Commercial/Large Power Plants (≥100MW): Two offline methods are available:

• Insurance Company Branches: Visit service centers in provinces like Shandong or Hebei to submit documentation and customize plans.
• Professional Consultants: For complex projects (e.g., high-altitude or multinational), consult a broker to connect with resources.

Essential Documentation

• For Families: ID card, registration proof, installation contract, component invoices.
• For Commercial Entities: Business license, project approval, equipment list, risk assessment report.

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