[PODCAST] 'These solar panels are exposed; they're attached to the roof, but not in such a way it takes you long to dismantle and leave with them. They're easy to steal' WynandVanVuuren on MoneywebAtMidday with maggsonmedia Download the podcast below
JEREMY MAGGS: A very warm welcome. This is the Thursday edition, and let’s get straight to it. Solar panel theft is on the rise and warnings have been sounded to those who have them to better protect and insure their equipment. We’ll start the programme with King Price Insurance’s client experience partner, Wynand van Vuuren, who says solar panel theft is a growing trend. He joins us now.
Those solar panels are exposed, it is outside, it is attached to the roof, but not in such a way that it takes you long to dismantle them and to leave with it. I think that is the reason why it is targeted. It’s very, very easy to steal.WYNAND VAN VUUREN: Yes, there is. I think now that the guys have seen that it is an easy item to steal, they go out and they create that market, and it’s really a problem.
So on the one side, we know it’s important and it’s a very good thing to have proper insurance on it, you know that your insurer is always going to jump in and make sure that you are indemnified and they come and replace the panels. But if you want to protect your insurance history, which we also know is very important, that’s going to influence your insurance for the rest of your life.
WYNAND VAN VUUREN: There are a few that are very important. The first thing is you must know it forms part of your building. So you have to phone your insurer and say, listen, my building cover must go up with R200 000 or the amount or the cost of the items that you’ve installed. Your insurer will then do a premium adjustment if necessary and make sure that that is included in your [policy].
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