3-in-1 Solar Insurance Policy
The triple protection for WINAICO photovoltaic plants covers the end consumer from all unforeseen loss giving the WINAICO system owner complete peace of mind.
WINAICO is a financially sound solar manufacturer who will provide you with local support for the lifetime of your investment.
Insurance Designed to Eliminate All Risks
In addition to an industry-leading 30-Year Product Warranty and 30-Year linear performance Warranty, WINAICO is one of the only solar panel manufacturers to provide you with the long-term reassurance and support of a 3-in-1 system insurance policy at no additional cost. All of our modules automatically come with this comprehensive insurance policy, which covers you against any loss due to material damage, interruption of service or reduced yield for the first two years.
You can choose to extend this policy up to a total of five years for a small additional cost. Your policy will not be cancelled in the event of a claim and is held directly with Willis Towers Watson, one of the largest insurers in the world.
Protection Against Damage & Destruction
Proection Against Loss of Yield
Protection Against Interruption of Service
What is All-Risks Insurance?
The policy covers all unforeseen loss due to damage or destruction of the insured assets.
Specifically, cover is provided against:
- Fire, lightning strike, explosion, heat damage due to smoldering, glimmering, scorching or glowing, or implosion
- Natural events such as storms, lightning, hail, snow load, frost
- Electrical short-circuit, voltage surge, induction
- Water, damp, flooding
- Robbery, burglary, sabotage, vandalism
- Operator control error, accidental damage, negligence
- Material, design and execution faults
- Force majeure
- Animal bite (such as by rodents)
What Items are Covered on the Insurance Policy
The policy covers all components of a stationary installed photovoltaic power plant operated as a commercial venture (feeding into the public electricity grid), including the following:
- Supply and draw meters
- DC and AC cables
- Charge controllers and accumulators
- Substructure
- Installation kit, including fasteners, mounting and connection sets
- Solar modules
- Voltage surge protectors (lightning protection)
- Inverters
- Monitoring components
- House consumer units
- Instrumentation and control components, where used solely to operate or monitor the insured plant.
What is Insurance Against Interruption of Service
Loss of income from grid supply fees will also be reimbursed if the technical operability of the photovoltaic plant is interrupted or impaired by damage or loss. The policy covers a period of up to 12 months out of service.
What is Insurance Against Reduced Yield
If the annual yield of the insured photovoltaic plant falls short of its forecast (determined on the basis of a qualified yield assessment) by more than 10 %, the insurer will reimburse the shortfall.
Reasons for specific plants to suffer reduced yield include:
- Global irradiation less than the forecast (expert assessment)
- Defects in the plant (material faults)
- Unusual wear and tear or soiling of the plant or its components
- Internal malfunction of modules and electronic components (inverters)
- Grid disconnects by the power utility as part of grid security management measures
Consequently, by contrast to standard insurance products this policy does not merely relate to material damage.
Reimbursement is limited to 30% of the forecast annual energy yield based on expert assessment.
What Instances are not Covered by the Insurance
According to the warranty conditions, the following events are not insured:
- Loss due to intent on the part of the insured party
- Loss due to war
- Loss due to nuclear power
- Damage or faults which were already known prior to entering into the insurance policy, and about which the insured party was aware
- Loss due to normal operational wear and tear or premature ageing
What Makes This Policy So Special
Policy features
The cover is not warranty-related
The policy’s cover is not restricted to the warranty terms of the module manufacturer, but insures against all loss in respect of the insured plant due to material damage or interruption of service.
Burden of proof
Reverse burden of proof, which means the insurer, must prove that a claim is not justified.
Settlement
Claims settlements are made to the end-customer/installer directly, not to the manufacturer.
Reassignment It is possible to reassign the policy to an investor or financing bank.
Repair/reconstruction
All components, including any installation costs, are reimbursed at the restoration cost.
When Does the Coverage Start? (Construction Cover)
Insurance cover begins once the system is registered on the insurance portal and can begin as soon as the insured items are delivered to the designated location, provided the insured party bears the related risk and carries out the installation within one month.
Cover during this construction phase, through to completion and commissioning, is limited to the following risks:
- Fire
- Theft of fitted components
- Burglary of materials stored under lock and key (minimum security requirement: Fully enclosed building, locked outer doors, insulating-glass windows or grilles)
- Storm
- Hail
WINAICO Partners
Your complimentary 2-year insurance policy should be registered at the time of installation for maximum protection and complete coverage. To register your installation please click the link on this page. If your customers are interested in an extending the insurance policy please email australia@winaico.com for more details.