India''s MNRE Enlists 11 Insurers Covering Risks for Solar Project
The updated list mainly includes private insurance companies that cover various risks for solar projects. Some notable insurers in the list are: New India Assurance Co Ltd,
The updated list mainly includes private insurance companies that cover various risks for solar projects. Some notable insurers in the list are: New India Assurance Co Ltd, HDFC ERGO, IFFCO Tokio, ICICI Lombard, Cholamandalam, Tata AIG, and Reliance General Insurance.
India's climatic and environmental conditions create several risks for solar power systems: By purchasing a solar plant insurance policy, you safeguard your solar investment from unexpected expenses due to such damages. What Does Solar Plant Insurance Cover? A typical solar panel insurance policy in India includes coverage for:
Solar insurance, while not legally mandatory in India, is highly recommended for solar panel systems, particularly for commercial and industrial projects and those financed through loans. Why To Take Solar Insurance?
Several insurance companies in India offer solar panel insurance, including Tata AIG, HDFC Ergo, and ICICI Lombard. It safeguards solar system owners from unexpected costs due to damage, theft, or equipment failure. Knowing that the investment is protected can provide peace of mind to system owners.
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