Solar PV Insurance

Solar Insurance & Finance has developed an unique Solar PV Insurance.  Our Solar PV Insurance covers:

Damages caused by external forces or inherent defect

Examples include:

• Damages caused by theft, fire and vandalism;
• Hail, lightning, overload, snow pressure or animal bite;
• Inherent defect;
• Repair costs (labour and call-out-changes).
• Furthermore all costs are indexed to inflation. 

Loss of production

• Loss of production is caused by mechanical failures, calamities or catastrophes caused by external forces or inherent defect. In such cases the PV installation does not generate any electricity. This loss of electricity is also covered;
• Loss of production is really intended for cases where spare parts are not in stock or where delivery times are long;
• From April till October, the compensation is EUR 2 per kilowatt-peak (kWp) per day. Outside these months the compensation is EUR 1 per kWp per day;
• Payment after 7 days downtime with a maximum payment period of 26 weeks.

Terms and conditions

• Premium will be calculated based on the total invoice value of the installation including costs of installation and VAT if the latter can not be settled by the applicant;
• No depreciaition;
• Claims due to terrorism, war, nuclear reactions, earthquake, volcanic eruption and flood are excluded;
• Typhoon, hurricane and tornado are also excluded;
• Premiums are to be paid annually;
• The installation can be insured for a maxuimum period of 25 years.