Are you adequately insured?

[Guest]

We have touched on this, some have had eye opening experiences when things went wrong with their insurance.

This is maybe a good article to start with:

 http://www.insurancechat.co.za/2017-09/lean-and-green-with-renewable-energy-solutions-but-are-you-adequately-insured/

[Mark]

They have made an excellent choice of inverter manufacturer hey @TTT.

[Guest]

6 minutes ago, Mark said:

They have made an excellent choice of inverter manufacturer hey @TTT.

They did not know better. I have sent them a very stern "vonkpos" about their choice of pic. 

[PaulF007]

Oh you got to love this : 
" You wisely opted to pay a small additional premium for the ‘Home improvement bundle’ on your buildings policy, which means Hollard will pay in the extra cost to upgrade your old electric geyser to a new solar geyser." - but you would only be able to claim when " your conventional electric geyser pops its valves and needs to be replaced as it cannot be repaired"

IMO this is a novice idea , most insurers will cover the your installation under buildings (It is bolted to the building). As long as the total value of the system is also included in amount insured. So make sure that you are not under insured as this is most of the time where you will have problems and just for in case email your insurer and state that you would like in increase your cover as you installed a system to the replacement value of R XXXX  then you have also covered the fact that you have disclosed the info that you have a solar system. Should the insurer have a problem with that they will then respond and inform you that you do or do not have cover. ( O ja keep the email with your schedule!) 

But as said in the beginning that is my opinion on the matter and the rules differ from insurer to insurer. 

[Guest]

On 9/6/2017 at 8:22 AM, PaulF007 said:

" You wisely opted to pay a small additional premium for the ‘Home improvement bundle’ on your buildings policy, which means Hollard will pay in the extra cost to upgrade your old electric geyser to a new solar geyser."

How I understand it is that your 200l geyser costs wot, +-R5k, and burst every +-5 years if you have a Kwikot. Kwikot lasts the warranty basically.

So insurers got clever, solar geysers tend to last +-10years and help reduce power consumption, so they will replace your +-R5k bust geyser with a +-R25k solar water heating system, for a small extra fee.

Once installed, obviously the building premium has to go up. Your saving in Eskom charges covers that little small increase, with loads to spare but ONLY IF you force change a few habits around hot water usage with SWAMBO and her little ones. WARNING: Such forced changes can lead to hospitalization or worse, refusal of select services.