Solar Energy Consultants Insurance in Victoria, AU

FD Beck offers a suitable & customised insurance solution to keep your consultancy business protected. Request a quote now!

The world is rapidly moving away from fossil fuels and towards renewable energy sources, among which solar power takes the lead. As it is, solar energy consultants have become more relevant than ever. Their expertise keeps companies compliant with current safety standards and ever-changing regulations while ensuring energy efficiency by getting them up-to-date with the latest industry trends and technologies.

As a solar energy consultant, it is your job to steer your client’s renewable energy strategy in the right direction. Much rests on your shoulders, and if things go wrong, your client may suffer significant losses which may result in a claim against you.

The Australian insurance broking company FD Beck Insurance Brokers understands the risk involved in the service you provide in the renewable energy sector. We can custom insurance packages that will help solar energy consultants efficiently deal with claims.

What Insurance Policy Should a Solar Energy Consultant Get?

As a solar energy consultant, you may need to do on-site visits and are responsible for developing long-term strategies for your clients’ business. As such, you are potentially exposed to making inadvertent mistakes and allegations of a professional a breach, both of which may result in claims. A professional indemnity and public liability insurance protects your business and your practice in such cases.

Professional Indemnity Insurance

A Professional Indemnity insurance is your protection against claims made against you by a third party who has suffered losses while you are rendering your professional services.

Such losses may happen if you have provided your client with erroneous advice, misinterpreted crucial data, or planned their strategies poorly, among others, resulting in significant financial losses to them.

PI insurance may cover the costs that you will likely spend on compensation including legal defense costs, helping you stay afloat while working your way through the claim.

Public Liability Insurance

You will need the cover of Public Liability (PL) insurance policy to protect you from claims made by a third party who have allegedly suffered personal injury or property damage as a result of your business operation.

Public liability may occur during site visits. Accidents may occur resulting in the disruption of operations, damage to on-site equipment and property, personnel injury, or any combination of these.

Much like PI insurance, a public liability policy covers compensation costs and expenses incurred by due legal process, from investigations to court proceedings.

We understand that choosing the right insurance cover can be complicated. But with the expertise of insurance brokers at FD Beck Australia, we’ll help you choose a policy tailored to your requirements.

Start protecting your business today. Get a quote from us.

Key Exposures in the Solar Energy Industry

Solar energy consultants offer services that make sure their clients operate with utmost safety and within the bounds of the law while encouraging financial profitability and continuous growth. This gives them access to their client’s assets and makes them privy to confidential information, exposing them to the following risks:

Causing financial loss to clients due to poor advice
Incorrect use of software to determine the actual costs and rate of return on solar systems
Incomplete renewable energy data resulting in incorrect determination of power needs
Inadequate research and incorrect advice relating to state, federal, and local legislation impacting solar industry credits and tax incentives.

Get Yourself Covered with a Tailored Insurance Package Today

While expertise and professionalism are expected from solar energy consultants, they are not immune to committing mistakes. Errors can be very costly for your client, and this may result in a claim being lodged against you. Dealing with claims will likely exhaust your resources.

FD Beck Insurance Brokers has insurance packages that may help you in the event of such claims. We have a network of insurers who can assist you in customising a suitable coverage fit for your business.

You may get an instant online quote for your custom insurance solution through our online quote calculator today.

FAQ

1. As a solar energy consultant, how much professional indemnity cover will I need?

Typically, sufficient cover for professional indemnity is between $500,000 and $5,0000,0000. The amount largely depends on the size of your business, your current needs, your budget, and other factors, such as your type of industry work with (i.e. residential, commercial or industrial) if you’re a freelance professional or a company with multiple employees. Seek help from one of our qualified brokers, or you can get a quote from us through our online system.

2. Is professional indemnity insurance a legal requirement for solar energy consultants in Australia?

Some states in Australia require consultants to have PI insurance. Legal requirements aside, you will need a PI policy if you offer consulting services for a fee to get cover from claims filed against you or your business for a breach of a professional duty. Some companies may even oblige you to have PI insurance before working with them. For your reference, you can check out this video: Is professional indemnity insurance compulsory or a legal requirement?

3. Can you build me a business insurance package tailored to my budget?

Yes, this is possible. Our insurance brokers will be happy to discuss your requirements and budget with you and build you an appropriate insurance package for your business.