Lloyds TSB Insurance is offering to provide free cover for wind turbines, solar panels and ground source heating pumps, in a bid to encourage more UK households to become 'greener.'
The equipment, which can cost as much as GBP25,000 to purchase and install, will be covered for repair, replacement and theft at no additional cost in Lloyds TSB buildings insurance policies.
The number of households turning green is expected to increase following the recent government proposal to remove the need for planning permission to install renewable energy appliances. At present, more than 100,000 households across the UK have installed renewable energy appliances, and this is predicted to rise to over 1.3 million by 2020.
Phil Loney, managing director of Lloyds TSB Insurance, said: Creating your own energy may save you money in the long-run but getting started requires a substantial investment. It can cost anything up to GBP25,000 to buy and install a wind turbine so it’s crucial to insure it properly.
But it doesn’t have to cost you the earth to keep your green appliance safe; it can be added at no extra cost to a Lloyds TSB buildings insurance policy.