The right insurance for photovoltaics

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Find the right insurance for photovoltaic systems

More and more people install this type of system on their roof or balcony. What citizens should know about insurance and what the risks are.

Faced with the energy and climate crisis, more and more citizens are modernizing their electricity supply by installing photovoltaic systems on roofs or balconies. Around 240,000 new systems were installed in 2021, ten percent more than the previous year. A total of around 2.1 million systems in Germany generate electricity from sunlight and cover around ten percent of household electricity requirements.

“So you see more and more installations,” says Lothar Weber, spokesperson for the Bergisch Land district – Wuppertal-Solingen-Remscheid at the Federal Association of German Insurance Sellers (BVK). “But new technologies also bring new risks that weren’t even covered by old property and liability insurance contracts. And when €20,000, €30,000 or more have been invested in a roof system, many fellow citizens think of intelligent risk management.”

Finally, storms, hail, lightning, fires and other adversities can temporarily stop the operation of a facility. Then not only the own power supply fails, but also the power supply to the grid and thus the revenue. Exactly these losses can be covered by extended home insurance, the increase in the value of the building, of course, too. The amounts of the premiums vary between 50 and 250 euros per year depending on the size of the system, the type of coverage and the additional risks. Smaller balcony systems are usually included in household goods insurance up to a power of 600 watts. Insurance sellers will help you with personal advice to determine the exact amount of premium and the correct level of insurance.

A smart insurance option is comprehensive coverage, which companies take out for their electronic systems, for example. So it almost doesn’t matter what caused a plant to be damaged or ruined. The photovoltaic insurance would always be responsible and could not, for example, withdraw with an “unfortunately uninsured” in the event of vandalism.

A second risk is liability, because every larger system makes the owner the “operator” of an operation. Malfunctions and high claims for damages by the network operator are covered by special corporate liability insurance. Dramatic incidents are very rare, but insurance costs are almost negligible, around 50 euros per year. In addition, some private civil liability insurance already includes the operation of a system in its conditions.

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