Inherent Defect Coverage
Insured warranty: Inherent Defect Coverage
Solar energy is sustainable, silent, safe, clean and financially attractive, but it is hard to judge quality of material with an unexperienced eye. Each solar panel is different from another. How are you insured of the functioning of your installation in case of damages due to inherent defect of your solar panels or inverters? Our insurance for solar panels and inverters protects your investment. Read more about solar warranty and our Inherent Defect Coverage here.
Why you need our solar warranty insurance
Inherent defects can lead to serious damages. Examples of inherent defect of panels are short circuit in the junction box, delamination and poor soldering. Inherent defect is part of the manufacturer’s warranty, if the manufacturer is still in production.
In case of a covered warranty claim you’ll receive a new panel or inverter from your manufacturer, but you will not receive compensation for consequential losses, such as costs of labor, transport and loss of income. Our Inherent Defect Coverage solves this problem.
Inherent defect coverage
Our Inherent defect coverage protects your investment and secures your revenues in case of an inherent defect.
This Inherent Defect Coverage:
- Supports the manufacturers’ warranty (modules up to max. 20 years, inverter max. 7.5 years)
- Reimburses the consequential losses, such as labour, transport and business interruption, not paid by the manufacturer in case of inherent defect
- Will not be terminated in case of bankruptcy of the manufacturer (insolvency coverage)
- Is an optional extension of the operational all risk insurance
- Is only possible if Solarif-certified panels are used
The advantages of Inherent defect coverage
For PV manufacturers
- A back-up of the warranty in case of bankruptcy
- Extension of the warranty, the insurer compensates for the consequential losses which are not compensated by the manufacturer.
- The insurances is purchased and paid by the owner of the PV-installation
- Acknowledgement of the quality by A-rated insurers.
For PV investors
- Quality verified panels
- The investor is in control, it’s his insurance, his policy
- Low deductible
- Supports the warranty by compensating costs not paid by the manufacturer
- Coverage remains operational, also when the manufacturer has gone bankrupt
- Protects the value of the project in case the manufacturer is bankrupt
- Secures the revenues in case of inherent defect
- Underwritten by an A-rated insurer
- Reduces the risk for lenders, which makes financing easier.
The inherent defect coverage can be taken out if Solarif certified panels are used. Our team from Solarif Risk Management is busy every day with the certification of factories and batches. Do you want to know more about certifcation?
