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Solar Insurance


Raiden2912

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R500 is expensive yes................but look at the details.

Could be that electrical/mechanical/electronic breakage cover is included on the equipment.  

Without properly going into the details, you cant judge the quote

 

If it is however excluded, they are truly ripping you off

 

 

Edited by Operator
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56 minutes ago, PowerUser said:

Doesn’t it matter, if it’s covered by your household or building insurance?
 

Those of you with the small premium increases, do you know what you are covered for? If your system gets stolen, is your insurance going to pay for it?

Valid point. Just checked mine and it is all risk except for malicious damage. Includes SASRIA. All items are listed in detail with corresponding serial numbers.

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On 2023/06/20 at 8:31 PM, cbrunsdon said:

Valid point. Just checked mine and it is all risk except for malicious damage. Includes SASRIA. All items are listed in detail with corresponding serial numbers.

As the inverter is attached to the buildings it should be covered under buildings insurance - and the rates will be a lot lower. All risks is effectively meant for items you can carry around - and get stolen (lost) easily. A rule of thumb, if you turn your house upside down does the risk stay behind. For an inverter the answer is yes so it is covered under buildings insurance.

The insurance  industry is "struggling" with inverters and their risks - it is only very recently that lots of people have installed inverters. Policy wordings (and procedures) ae not always up to speed. Most insurers are now insisting on a CoC.

I would make sure that you keep the communication with your insurer - in case their are any issues at claim stage. I would keep a record of:

  • The invoice
  • The exact items installed;
  • The CoC that was provided.

With load shedding and the rise in claims many insurers have removed cover for power surge - or limit cover. It poses a risk to you as an inverter system could easily be worth R100k+. Whilst the risk of a power surge is really limited, it could be a financial mess if your system is wiped out by a power surge and your cover is limited to R10k. Be very careful here.

Some insurers have also required surge protection (arrestors)  - and this protection to be checked regularly - for their to be cover. Surge protectors are usually installed with an inverter - don't think many people think of maintaining them.

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