Insurance increase on getting solar panel system

[Cius]

Hi All

Curious to know what the increase was to your home insurance when installing inverter, solar panels and battery type systems?

Please share your experience with it.

 

[neoprema]

Funny - literally just got off the phone to insure a system i'm buying (financed)

The figure appears to have been adjusted by about R75 ikncrease. Note that they did not actually specifically add each solar component. They're just asking what it is, and the value and my building cover increased by said value.

 

[Cius]

Just got quoted via the complex insurance and for my R100K system its R48 per month. Storm damage is R15K limit which is reasonable but theft cover is limited to 25K which I find a bit low.

 

[Snyper564]

My installation formed part of my home (not content) insurance which is 3x its value.

Nothing needed to be added in my case.

 

[neoprema]

Just got quoted via the complex insurance and for my R100K system its R48 per month. Storm damage is R15K limit which is reasonable but theft cover is limited to 25K which I find a bit low.

Hmm. i was not given any terms on mine?

 

[AlphaJohn]

Dont think SA companies properly prepped for insurance.

Mine marked it as part of household contents....

No idea how its gonna work on hail/weather damage guess time will tell.

 

[Cius]

The installer I am quoting has a 200K system on his home and he said it increased his insurance by about R16 per month, however I did not sound like it was a specified item, just added to the general property value.

 

[Snyper564]

Dont think SA companies properly prepped for insurance.

Mine marked it as part of household contents....

No idea how its gonna work on hail/weather damage guess time will tell.

I would seriously check this, if your content and property is same insurance likely fine but if not I would contact your property insurer. My side it was content with my one insurer till installation where it moved to the other once installation took place.

 

[neoprema]

The installer I am quoting has a 200K system on his home and he said it increased his insurance by about R16 per month, however I did not sound like it was a specified item, just added to the general property value.

Thats what they did with me. They said it doesn't need to be specified as its a permanent fixture and thus added to the building insurance amount of total cover. (Outsurance)

 

[Snyper564]

The installer I am quoting has a 200K system on his home and he said it increased his insurance by about R16 per month, however I did not sound like it was a specified item, just added to the general property value.

sounds similar to mine,as I said my prop is 3x on the insured value so I didnt have to "increase" anything. or mention it seperately as confirmed with outsurance.,

 

[Snyper564]

Thats what they did with me. They said it doesn't need to be specified as its a permanent fixture and thus added to the building insurance amount of total cover. (Outsurance)

same also outsurance

 

[neoprema]

same also outsurance

On this topic, and since climate change has turned JHB weather upside down, do you know what a good hail beating does to solar panels? Or do they have some kind of re-enforcement for it?

 

[Snyper564]

On this topic, and since climate change has turned JHB weather upside down, do you know what a good hail beating does to solar panels? Or do they have some kind of re-enforcement for it?

Abs no idea, I did get a good hail beating dec with no issues.

 

[AlphaJohn]

On this topic, and since climate change has turned JHB weather upside down, do you know what a good hail beating does to solar panels? Or do they have some kind of re-enforcement for it?

In general they should handle it but where I stay we have em freak cricket ball storms once ever 5 years that even take out building tiles. <-- Highly doubt solar would last in such a storm.

 

[neoprema]

I can see me running outside with plastic sheets climbing up on the room when we suspect hail lol.

 

[Snyper564]

I can see me running outside with plastic sheets climbing up on the room when we suspect hail lol.

Plastic?

More like metal sheets

 

[neoprema]

Plastic?

More like metal sheets

human -> earthed -> holding metal sheet -> on roof -> lightning...

 

[Snyper564]

human -> earthed -> holding metal sheet -> on roof -> lightning...

->panels safe

#worthIT

 

[Mike Hoxbig]

Dont think SA companies properly prepped for insurance.

Mine marked it as part of household contents....

No idea how its gonna work on hail/weather damage guess time will tell.

That doesn't sound right. It now forms part of the building structure and should be covered by building insurance. Unless your inverter etc. is on a trolley and not fixed. My building insurance went up by like R50...

 

[BadBoyGP]

The installer I am quoting has a 200K system on his home and he said it increased his insurance by about R16 per month, however I did not sound like it was a specified item, just added to the general property value.

It should not be specified unless for accidental damage is needed.