Option Inherent defect

and warranty

with Solar PV Insurance

1. Company Profile Solar Insurance & Finance

2. Solar PV Insurance

3. Solar PV Insurance Online

4. Solar PV Insurance Service Contract

5. Option ‘Inherent defect and warranty’

About Solar Insurance & Finance

Solar Insurance & Finance is a worldwide

operating, independent insurance broker

with full focus on insurance for PV installa-

tions. Our extensive knowledge of the solar

market results in insurance solutions that

perfectly meet our customers’ wishes, for

example our Solar PV Insurance with option

‘Inherent defect and warranty’.

Solar Insurance & Finance offers insurances

for PV owners, manufacturers, installers,

project developers and investors. Our insur-

ances are backed by leading European in-

surers with an A rating.

Address: Mr. B.M. Teldersstraat 11G

6842 CT Arnhem

The Netherlands

P.O. Box 4192

6803 ED Arnhem

The Netherlands

Contact: + 31 (0)26 711 50 50

info@solarif.com

www.solarif.com

Your PV installation is a valuable posses-

sion. Of course you want to make the most

of your investment. Unfortunately, it can oc-

cur that your PV installation becomes dam-

aged or gets stolen. Replacing or repairing

your PV installation involves costs that will

not be reimbursed by your warranty, such

as labor costs and call out charges. And

what if the manufacturer is bankrupt and

can no longer fulfill the warranty obliga-

tions?

You can secure your investment and reve-

nue with a Solar PV Insurance of Solar In-

surance & Finance. This insurance covers

damage caused by weather conditions, fire

and theft and compensates the loss of pro-

duction.

You can extend the insurance with the op-

tion ‘Inherent defect and warranty’, that

backs up the warranty, even if the manufac-

turer no longer exists.

Option ‘Inherent defect and warranty’

The option ‘Inherent defect and warranty’ with the Solar PV Insurance

consists of two parts:

1. Inherent defect

In case the manufacturer does not provide compensation, the option

‘Inherent defect and warranty’ covers damage caused by an inferior

characteristic (an inherent defect) to your modules or inverters. Such

deficiency can result in considerable losses. A defect part must be

inspected, disassembled and replaced. In this period (part of) your

installation is decommissioned and you lose revenue. The cover

knows a maximum of 20 years for modules and a maximum of 7.5

years for inverters.

2. Warranty

This provides cover if you have a legitimate claim within the warranty

period and the manufacturer:

Can’t fulfill the obligations due to bankruptcy

Rejects your warranty claim

Disputes the liability

The insurance compensates new materials, labor costs, call out charge

and loss of production in case of a covered event.

The option ‘Inherent defect and warranty’ applies to modules that are

certified by Solar Insurance. Certification is the result of a positive audit

on tech-nical and financial aspects and environmental and labor condi-

tions in the factory. For large installations an audit of the installation is

also required.

Why should you choose our insurance?

Solar Insurance & Finance is market leader in the solar insurance indus-

try. We offer the best insurance solutions for your PV installation. Our

insurances minimize the risks of your solar projects. This makes your

projects easier to finance and attractive to investors.

Option ‘Inherent de-fect and warranty’ Solar Insurance & Finance

Warranty insurance other insurers

Cover

Modules and inverters

Modules

Compensation

New materials, loss of pro-duction, labor costs and call out charge

New modules and labor costs

Validity

Maximum of 20 years for modules and maximum of 7.5 years for inverters Insured from first commis-sioning

Maximum of 25 years for modules Cover from the 6th year

Deductible

Low: depending on the size of the installation, ranging from € 125 to € 10,000

High: sometimes from € 200,000 per claim

Depreciation

No depreciation, full cover for 20 years

Depreciation sometimes 4% linear per year. This means that the coverage is 80%after 5 years and 20% after 20 years

Policyholder

Owner PV installation

Manufacturer

Bankruptcy manufacturer

Cover remains

Cover is terminated in most cases