People’s Insurance PLC, has launched an insurance cover for solar panels mounted in homes, offices and solar parks across the country.
Manager, Fire and Miscellaneous, Uvindu Pathirana said, “Many Sri Lankans are looking towards producing and using energy in a sustainable manner. While solar panels are the ideal choice for this, people often hesitate because of the high cost and risks such as damage associated with solar panel usage. This is where we have stepped in to ensure that a customer’s investment in solar energy will be protected from perils via a cover developed specifically for this.”
The basic cover provides protection against fire, lightning, storms, cyclones, floods, earthquakes and accidental damage, inclusive of electrical extra covers.
The insurer has also pledged more additional covers at no extra charge. These include the labour costs of debris removal if panels are damaged by an insured peril, the cost of removing and repositioning the solar panel system if the building or structure is damaged and the cost of transporting damaged panels to the service agent’s workshop.
Customers who wish to have their losses covered in case of an untimely theft of panels involving forced entry, riots, terrorist activities or electrical extras without visible burn marks can do so by paying a minimal premium.