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- Yes, you can start saving for retirement in your 20s
- Everything you need to know about student loans
- Can gaming make your kid a budding financial expert?
- Airline inconveniences: Can you get compensation?
- Need to travel urgently? A personal loan could
- Yes, you can start saving for retirement in your 20s
- Everything you need to know about student loans
- Can gaming make your kid a budding financial expert?
- Airline inconveniences: Can you get compensation?
- Need to travel urgently? A personal loan could
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This solution covers your solar energy system, including inverters, batteries, panels and related components – whether installed on owned or rented property.
Payouts are subject to valid claims for the insured events detailed in your policy documents.
Alternative energy insurance covers you for loss or damage caused by fire and lightning, explosions and power surges, weather events like storms, floods, hail or snow, earthquakes, landslips or mining-related earth tremors, theft following forcible entry or malicious damage, and impact by vehicles, aerial devices or other falling objects.
Your policy schedule will confirm your exact cover, so it is worth taking a moment to review it.
Like all insurance policies, there are exclusions to note. These include demolition, construction, cleaning, renovation or repairs; rot, decay, mildew, fungus, mould, vermin or insect infestation; chips, dents, scratches or discoloration; gradual depreciation or wear and tear; losses covered by a guarantee or service agreement; and the cost to repair defective design or installation.
Taking a moment to understand what is not covered can help you avoid unexpected outcomes later.
To get an estimate of your premium, you should have details of the system components, replacement value, installation certificates, protection features and address details available. Having these details ready can help make the quoting process quicker and ensure your quotation is as accurate as possible.
Your cover amount should represent the full replacement value of your system. It is important to review your policy whenever changes or upgrades are made so that your cover keeps pace with replacement costs. Reviewing your system value whenever you make upgrades can help ensure your cover remains appropriate.
If the amount needed to repair or replace the system is more than the insured amount, you may be underinsured and will need to pay the shortfall yourself. Reviewing your system value whenever you make upgrades can help you avoid unexpected shortfalls at claim stage.
Yes. The system must be installed by a competent registered service provider and supported by an electrical certificate of compliance. Keeping your certificates and maintenance records on hand can help speed up the claims process if something goes wrong.
Not necessarily. Although alternative energy insurance is often linked to building insurance, you can still take up this cover even if you do not own the building or have building insurance. If you are unsure whether your system should be insured under building cover or separately, speak to us so we can help you choose the most suitable option.
Yes. You can insure a system that you do not own, lease or rent provided that you have a financial interest in it.
Yes. Discounts of up to 20% may apply depending on which other Nedbank Insurance solutions you have.
Premiums can be paid monthly or annually via EFT or debit order. Using a debit order can help ensure payments are made on time so your cover remains active.
From our blog
See moreNotify us immediately if any changes or upgrades are made to your alternative energy system. This helps keep your insured value accurate and up to date. Letting us know as soon as changes are made helps ensure your cover keeps pace with your system value.
If your system is moved to another property, contact Nedbank Insurance so that the new risk details can be assessed and your policy updated if required. Letting us know before the move takes place can help avoid gaps in cover.
Following a valid claim, this cover may compensate you for local authority compliance costs, professional fees, debris removal and costs incurred to limit further damage.
Like most insurance solutions, this policy is designed to cover sudden and unexpected events. Regular inspections and maintenance can help reduce the likelihood of these issues developing over time.
Ensure your system is properly installed and certified, your insured value is up to date and policy conditions are met. Reviewing these requirements regularly can help ensure you are prepared if you ever need to claim.
They may. Changes to the value, size or risk profile of the system could impact your premium and cover terms. Keeping us informed of changes helps ensure your premium and cover accurately reflect your system.
Call 0800 333 111, email insurance@nedbank.co.za or chat to Enbi via the Money app or Nedbank website.
From our blog
See moreYour policy is reviewed, usually annually, to confirm whether it continues and under what terms. Take a few minutes to review your policy details at renewal to ensure your cover still meets your needs.
Your premium may change because of claims history, changes in your risk profile or changes to your system value and specifications. Reviewing these factors regularly can help you better understand premium changes over time.
Yes. Renewal is a good opportunity to review recent upgrades or changes and update your cover accordingly.
Yes. An annual review helps ensure your cover keeps pace with changing replacement costs.
You may be underinsured, which could affect your claim payout and leave you with additional costs to pay out of pocket. A quick review each year can help you avoid this additional financial strain.
Yes. You may qualify for a cashback bonus after three claim-free years.
From our blog
See moreRequest a cancellation form from clientservices@nedbankinsurance.co.za, complete it and submit the required supporting documents. Before cancelling, speak to us about available alternatives that may help you maintain protection while meeting your budget needs.
You will receive confirmation of the cancellation date and no claims will be payable after cover has ended.
Refunds may apply during the cooling-off period if no claim has been made. Understanding how cancellation affects premiums and refunds can help you make an informed decision.
Yes. At least one month's notice is required when cancelling more than 31 days after policy inception.
Yes. You have a 14-day cooling-off period in which to cancel and receive a refund, provided that no claims have been submitted.
Your cover may lapse if premiums are not paid. If you are struggling to keep up with premiums, contact us before missing a payment so we can discuss available options.
Cover may be cancelled if incorrect information is provided, fraudulent behaviour occurs, policy terms are not complied with or premiums are not paid.