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We have witnessed and experienced the impact of loadshedding in our day to day lives. The frequent loadshedding has resulted in around 1 in 3 consumers investing in electronic equipment to boost their power supply. This has been supported by consumer survey responses which have indicated that 34% of these consumers have installed UPS devices, 24% for generators, 20% for solar panels and 15% relying on portable batteries.
While installing these devices are meant to mitigate damages to household appliances, one must bear in mind that they do add to the sum of the insured amount of the building and/or contents as well as change one’s risk profile.
Home solar installations
Apart from the value of insured amounts being impacted by the installation of home solar panels, it is important to factor in the risk of these installations such as fire and theft. With a view of ensuring that proactive risk management is adhered to, Santam encourages clients to take note of the general conditions of their policy cover, as well as meet the maintenance requirements for these installations and follow any regulatory requirements, including being in possession of a Certificate of Compliance for the installation.
The importance of advice
If you have had solar installation, or are considering installing solar panels, knowledge and expert advice are vital. Fire is a real risk property owners face when a solar power solution is not installed in line with regulations and South African National Standards (SANS).
As a leading short-term insurer that places great emphasis on risk awareness, it is important to play a role in educating clients about the increased fire risk associated with installing solar panels and how this can affect one’s insurance policy.
Should you need more advice on ensuring that you are adequately covered, please use our self-service options to review your cover needs to ensure you have the right cover or contact us to assist.
Related articles:
How to Use Solar Power at Home | Santam Insurance
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