With the expansion of the use of solar energy in the country, with an increase of more than 70% in the 1st half of 2020, more and more Brazilian investors, from companies of all sizes and segments, are finding in the photovoltaic solution a great way to save on energy. electricity bill at the end of the month.
And, with this increase, the demand for insurance for panels and equipment also grew, which can cover, for example, events similar to the windstorms recorded in the south of the country at the beginning of 2020. This increase shows that more and more companies are concerned ensuring peace of mind and security should an unforeseen event occur.
“With the increased use of equipment for capturing and transforming solar energy, the insurance sector presents itself as an important protection instrument to avoid possible losses inherent to this segment”, highlights Mariana Arozo, General Coordinator of Mass Insurance Regulation , People and Pensions of Susep (Private Insurance Superintendence), responsible for authorizing, controlling and supervising the insurance, open supplementary pension, capitalization and reinsurance markets in Brazil.
Solutions for installation and operation are available for this sector, which, in turn, offer options according to the size, location and destination of the energy generated. The specialist explains that “in the case of insurance for damage to equipment already installed and in use (with coverage, for example, for risks related to rain, wind, fire, lightning, explosion, etc.), it can be contracted as part of business or named risk or operational insurance, or, separately, as miscellaneous risk insurance. In the case of coverage for the installation and assembly of photovoltaic panels, it would be treated as engineering risk insurance”.
“In addition to the risks already mentioned, risks of theft, breach of transmission supply contracts, damage to third parties, design error, equipment breakdown, loss of revenue, hailstorm, among others may also be covered,” he adds. the specialist.
Today, there are several payments existing on the market that guarantee that business owners and consumers are compensated in the event of damage caused to their equipment and losses to third parties, in accordance with the coverage contracted. Check which insurance is recommended for each situation.
Safe when installing solar panels
Engineering risk and construction liability insurance aims to cover losses resulting from accidents during the installation phase of new machinery and equipment, while the work is underway. He can be hired by both individuals and legal entities involved in the execution of engineering projects and works.
When an integrator company, for example, hires this service, it guarantees the safety of its employees, customers and its equipment from damage caused by accidents such as collapses and explosions. In addition, the company is insured against damages caused to third parties during the work to perform the services, and numerous other coverages, such as storage outside the risk location and design errors for civil works.
“If a company operating in the solar sector contracts this product, it will be insured against damages that occur during the installation and assembly period, considering the coverage offered at the time of contracting”, explains Sidney Cezarino, director of Property, Engineering Risks, Miscellaneous Risks and Energy of Tokio Marine.
Therefore, an integrator company that, during installation, accidentally drops a pallet of photovoltaic panels on the ground, causing damage to them, may obtain compensation through Engineering Risk insurance.
If such damage is caused by a windstorm, or if an accident occurs due to a project execution error, causing damage to third parties or the company, the insurance company also covers the loss caused to those involved, according to contracted coverage.
Insurance of solar panels during their operation
When the photovoltaic modules are already operating, it is first necessary to define what will be the destination of the energy generated by the equipment. In cases where the energy generated by photovoltaic modules is intended for personal use, the ideal insurance is that of equipment, with the Agro product being for installations in rural areas and the RD (Miscellaneous Risks) product for those located in areas urban.
This insurance protects photovoltaic energy generation equipment after completion of assembly, that is, when it is already operating. It is a protection for assets. The basic coverage offered covers damage caused by fires of any nature, lightning, explosions, robbery and qualified theft, windstorms, hail, or any external damage.
“Any damage from external causes, including theft and theft, is covered. For example, a windstorm or if a panel was hit by a stone”, says Cezarino. This product offers optional coverage such as electrical damage, which provides more complete protection, and is intended for situations in which the value of the insured equipment is equal to or less than R$5 million. In cases where energy generated by solar panels is sold, insurance is defined by the size of the company.
For example, the Tokio Marine Seguradora offers the Business product, which serves companies worth up to R$100 million and RNO (Named and Operational Risks), aimed at companies that exceed this value. Such solutions act to compensate for material losses arising from accidents caused to insured equipment.
Coverage is available for fires, electrical damage and machine breakdowns, as well as natural risks, such as windstorms and flooding, for example. With insurance, the reestablishment of operations happens more easily and quickly. In addition, loss of profit coverage is available, which compensates policyholders for loss of income resulting from material damage, ensuring the continuity of their business.
Great value for money
Insurance is an excellent investment due to its cost-benefit, as it leaves the insured person more at ease regarding unexpected expenses caused by accidents that damage their equipment or cause losses to third parties. Furthermore, it contributes to the faster reestablishment of operations and cash flow, depending on the coverage contracted.
Anyone who takes out insurance also has many benefits from the assistance and services offered. For example, asset valuation, which surveys the company and presents the real value for the declaration in the policy, and risk management, a service in which the entire operation is mapped to identify situations that could generate problems, among others.
The insurance value varies in price according to the value of the installed equipment, but it is low considering the benefits it brings, in addition to having installment options. Given the diversity of options, it is very important to have the advice of a professional specialized in insurance to take out a policy suited to the client's needs.
