Photovoltaic insurance: Expert Paul Ristock explains how brokers effectively insure the systems.

Photovoltaic insurance: Expert Paul Ristock explains how brokers effectively insure the systems.

According to a report from www.versicherungsbote.de, Paul Ristock, head of the German branch of Oberösterreichische Versicherung AG, gives tips on insuring photovoltaic systems. He emphasizes the need for a separate insurance contract for the system in order not to place an unnecessary burden on the building insurance. The most important insurance benefits include loss of income compensation and GAP coverage. Ristock also points out the tax regulations and the promotion of the expansion of photovoltaic systems.

According to our own calculations and analyses, it can be stated that the exploding energy prices and tax incentives are leading to increased interest in solar energy and thus also in photovoltaic systems. This could lead to an increase in demand for insurance for such systems as home and property owners want them to be well insured.

In addition, statistics show that over 20 percent of damage to photovoltaic systems is caused by fires, while around 50 percent is due to storm, hail and surge damage. In the event of total damage, the damage amounts can reach several thousand euros. In view of these figures, sufficient compensation for loss of earnings is of great importance.

In addition, a differentiated consideration depending on the type of photovoltaic system is crucial. While power outages should be protected for grid-connected systems, purchased electricity must be taken into account for stand-alone systems. The distinction between private and commercial use also plays a role, especially with regard to operator liability insurance.

It is expected that the demand for photovoltaic insurance will continue to increase given rising energy prices and increased support for photovoltaic systems. This could lead to increased product variety and performance differences, requiring close scrutiny by insurance brokers. In addition, policyholders should be made aware of their obligations regarding maintenance, repairs and inspections in order to be protected in the event of damage.

Overall, macroeconomic factors such as energy prices, tax incentives and government subsidies will play a central role in the demand for photovoltaic insurance and thus also have a significant influence on the market for this insurance.