Insure a photovoltaic system: Financial experts recommend suitable insurance starting from 35 euros per year

Insure a photovoltaic system: Financial experts recommend suitable insurance starting from 35 euros per year

According to a report by www.merkur.de, the magazine “Finanztest” compared 80 available offers for insurance for photovoltaic systems. It turned out that only 33 of these offers met the minimum criteria.

Depending on its size and performance, installing a photovoltaic system can cost tens of thousands of euros. It is therefore important to protect the investment with appropriate insurance in order to minimize possible risks. According to “Finanztest”, it is advisable to integrate the protection of a PV system into your home insurance, as this makes things easier if both the system and the house are damaged. This integration is possible with many providers via an additional module. The costs for this range from 35 to 120 euros per year, depending on the provider and the specific conditions.

Furthermore, separate photovoltaic insurance may offer more extensive protection, for example against theft, animal bites and operating errors. This insurance is available for 65 to 107 euros per year.

However, it is important to note that some insurance companies only pay if the photovoltaic system has been installed by a specialist company. Anyone who has carried out the installation on their own often does not receive any protection. In addition, even if you do not protect your photovoltaic system with insurance, you should inform your residential building insurer about purchasing it in order to increase the value of the house and minimize the risk of underinsurance in the event of damage.

This information highlights the importance of comprehensive insurance for photovoltaic systems in order to reduce potential financial risks.

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Analysis: Research by “Finanztest” shows that less than half of the insurance offers examined meet the minimum criteria, suggesting that consumers should carefully inform themselves about the conditions before taking out insurance. This could result in providers who meet the requirements seeing an increase in demand for their insurance products.

In addition, the cost of insurance, which ranges between 35 and 120 euros per year depending on the provider and specific coverage, can have a significant impact on the overall budget for installing and operating a photovoltaic system. This could influence potential buyers to opt for smaller or cheaper investments or to explore alternative financing options.

In terms of the industry, the increasing demand for insurance for photovoltaic systems may lead to increased competition between insurance companies, which may offer more innovative products and better prices in order to gain market share.

For consumers, this means that when purchasing a photovoltaic system, they should think carefully about the costs and the different insurance options available to ensure the long-term viability and security of their investment.