Photovoltaic insurance.
How to insure your PV system.
Topics
AT A GLANCE
Solar electricity is currently in great demand. Over 10 percent of the electricity consumed in Switzerland comes from solar energy, and this figure is rising. More and more companies and private households are relying on photovoltaic systems to generate affordable and sustainable electricity.
Since PV systems are relatively expensive to buy and are constantly exposed to the elements, it makes sense to take out appropriate insurance cover. Read this guide to find out what a specific photovoltaic insurance policy will cover and when it is worth having.
When does photovoltaic insurance make sense?
Photovoltaic systems are always an investment – in the future but also financially. As a general rule, the bigger the system, the higher the purchase and installation costs. For that reason, it is particularly worthwhile insuring large PV systems against expensive losses. In Switzerland, cantonal buildings insurance often already covers natural hazard damage to photovoltaic systems.
However, the scope of cover varies depending on the region and the insurer. With separate photovoltaic insurance, you can avoid high costs by insuring your solar panels against additional risks, such as technical defects, theft or damage caused by animals.
What does photovoltaic insurance cover?
Photovoltaic insurance is a special type of supplementary insurance that you can use to cover your PV system against the following risks:
- Natural hazard events: storm, hail, lightning strike, snow pressure, frost or flooding
- Theft and vandalism: damage to your photovoltaic system by third parties or burglary
- Damage caused by animals: e.g. marten bites
- Technical defects: material defects or design faults
- Operational risks: short circuit and surge damage
- Human error: operating errors, carelessness, negligence
- Loss of earnings: compensation for lost feed-in remuneration and additional electricity costs
Most photovoltaic insurance policies cover the entire system– from the inverter to the support structure to the wiring. As a result, you benefit from a reliable safety net for your electricity supply.
How much does photovoltaic insurance cost?
The amount of the premium depends heavily on location, insurance provider and the kind of cover that is required. In addition, certain types of cover make more sense for certain sizes of photovoltaic system.
If your PV system supplies electricity to several buildings, for example, it is worth insuring not just repair costs but also loss of earnings. However, additional cover like this is more expensive.
GOOD TO KNOW
Unsure which is the right insurance policy for you and which types of cover make sense? A personal consultation with a precise needs analysis will help. Our advisors will be happy to advise and assist you.
How can I take out photovoltaic insurance?
Before you take out photovoltaic insurance, you should check your existing buildings insurance. If the PV system is already covered for fire and natural hazard damage, you can protect yourself against additional risks with a separate photovoltaic insurance policy.
We offer a comprehensive insurance solution for your photovoltaic system. In addition to fire and natural hazard damage, photovoltaic insurance also covers damage caused by external influences, such as animals, vandalism and theft, as well as material defects and design faults.
You can also insure loss of earnings, for example due to internal operating damage. We will be happy to advise you in person and draw up a non-binding quote for you.
How can I prevent damage to my photovoltaic system?
PV systems are exposed to many external influences, so parts can and do break. However, there are a number of steps you can take to avoid damage to your photovoltaic system:
- Professional installation: Proper installation is the best protection against technical defects and overheating. Have your PV system installed by qualified experts and make sure that they check all the connections carefully.
- Regular maintenance: Have your PV system serviced regularly in order to detect minor damage at an early stage. Dirt and loose connections can impair the system's performance and increase the risk of overheating and fires. There are companies which specialise in monitoring PV systems.
- Protection against the elements: Robust construction and appropriate materials will help to minimise damage caused by extreme weather conditions such as storms and hail. In regions with a high risk of hail, it makes sense to use particularly robust modules that meet the Swiss standards for hail resistance.
- Protection against lightning strike: Install lightning conductors and surge protection to prevent lightning damage. Particularly recommended in regions where storms are frequent, such equipment reduces the risk of power outages due to lightning strikes.
- Protection against animal damage: As martens and birds can damage wires, the use of preventive equipment is recommended.
Frequently asked questions and answers
No, special insurance for photovoltaic systems is not mandatory in Switzerland. However, since PV systems are often a substantial investment, comprehensive protection beyond that provided by buildings insurance is strongly recommended.
In most cases, photovoltaic systems are not automatically covered by residential buildings insurance in Switzerland. Although many cantonal buildings insurance policies also include damage to PV systems caused by fire and natural hazards, such as storms and hail, you will have to take out a separate photovoltaic insurance policy for all other risks – such as short circuit damage, theft, operating errors and loss of earnings.
As a rule, no special insurance is required for small PV systems on balconies, terraces and garage roofs in Switzerland. Damage caused by fire, hail, storm or theft is covered by the household contents insurance, as long as the solar power system counts as movable property.
Damage to third parties – such as if your mini-PV system is blown off your balcony in a storm causing property damage or personal injury – is covered by your liability insurance. To make sure that your PV system is definitely covered, however, you should check the terms and conditions of insurance and report the system to your insurance company before installing it.
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