To support the ongoing national-level initiatives of fostering sustainable and environmentally friendly energy production methods, Sri Lanka’s foremost non-life insurance firm, People’s Insurance, has announced the launch of a special insurance coverage for solar panels mounted in homes, offices and solar parks across the country.
As the number of solar panels installed in buildings and solar products in the country has seen a trend of exponential growth, year on year, the timely introduction of this insurance coverage seeks to mitigate the risk factor associated with roof-mounted solar panels and solar products, as they are of high-value investments.
The Basic Cover provides protection against fire, lightning, storms, cyclones, floods, earthquakes and accidental damage, inclusive of electrical extra covers. Much to the customer’s benefit, 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.
Known for its efforts in being an insurer that always goes the extra mile by keeping the customer’s best interests in mind, People’s Insurance will also cover the damages caused to panels by malicious acts of other individuals. Additionally, if a customer loses income due to the perils mentioned above, that loss of revenue will also be covered by this special insurance scheme.
Those 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. Speaking at the launch of this cover Manager Fire and Miscellaneous Uvindu Pathirana said, “Many Sri Lankans are looking towards producing and sustainably using energy. 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.”
As a socially responsible insurer, this special scheme is expected to fulfil the hopes of an environmentally and energy-efficient Sri Lanka.
