Benefits
The commitment to making sustainable choices is of utmost importance for the future of the environment. Generating green energy such as that through a solar photovoltaic (PV) system requires substantial investment. That’s why we go above and beyond with MSIG Solar PV All Risks Insurance. It protects your solar PV system against loss or damage due to fire, theft and accidental damage. It also provides compensation for income or savings affected by downtime caused by such loss or damage if your system is under the Feed-in Tariff (FiT) or Net Energy Metering (NEM) programme. With different plans offered including options for deductibles and public liability cover, you will find the coverage you need. At MSIG, protecting your investment in renewable energy is at the heart of everything we do.
√ Comprehensive Coverage against loss or damage to your Solar PV system due to:
- Fire
- Theft
- Accidental External Means*
√ Provides protection against loss of income or saving if your system is under either:
- Feed-in-Tariff (FiT) programme
- Net Energy Metering (NEM) programme
√ Flexibility to choose between a pre-set plan or determine your own sum insured depending on your business risk exposure.
√ Optional Deductible Plan with a premium discount of up to 15%.
- You decide how much of the repair or replacement costs you can pay out-of-pocket in return for a reduced premium before your MSIG Solar PV All Risks Insurance pays the balance up to the limit covered.
√ Optional coverage for Public Liability.
*Includes damage by rats but excludes coverage of related transmission lines/cables outside the insured premises.
| PLAN | PLAN 1 (RM) |
PLAN 2 (RM) |
PLAN 3 (RM) |
PLAN 4 (RM) |
PLAN 5 (RM) |
PLAN 6 (RM) |
|---|---|---|---|---|---|---|
| SUM INSURED | 250,000 | 500,000 | 750,000 | 1,000,000 | 1,250,000 | 1,500,000 |
| DEDUCTIBLE (OPTIONAL) |
5,000 / 10,000 / 15,000 / 20,000 | |||||
| (A) FiT LOSS OF INCOME PROTECTION | 50,000 | 100,000 | 150,000 | 200,000 | 250,000 | 300,000 |
| Up to 6 months, with time excess of 24 hours | ||||||
| OR | ||||||
| (B) NEM LOSS OF SAVINGS PROTECTION | 17,500 | 52,000 | 52,500 | 70,000 | 87,500 | 105,000 |
| Up to 6 months, with time in excess of 24 hours | ||||||
| PREMIUM | Based on selected Plan, Loss of Income Protection or Loss of Savings, and Trade code | |||||
| OPTIONAL COVER | ||||||
| PUBLIC LIABILITY | 100,000 | |||||
| PREMIUM | 50 | |||||
Alternatively, you may opt to determine the Sum Insured according to your risk exposure**
**Subject to MSIG’s underwriter’s approval.
Notes:
1. A minimum excess of RM500 for each and every claim will be applied to policies without any Deductible.
2. Basis of Settlement – Replacement Value
3. Premium is subject to 8% Service Tax.
This insurance product is underwritten by MSIG Insurance (Malaysia) Bhd. MSIG Insurance (Malaysia) Bhd is a member of PIDM. The benefit(s) payable under eligible certificate/policy/product is (are) protected by PIDM up to limits. Please refer to PIDM’s TIPS Brochure (visit Eng: https://pidm.gov.my/pidm2022/media/downloads/Takaful-And-Insurance-Benefits-Protection-System-Brochure.pdf or BM: https://pidm.gov.my/pidm2022/media/downloads/Sistem-Perlindungan-Manfaat-Takaful-Dan-Insurans-Risalah.pdf) or contact MSIG Insurance (Malaysia) Bhd (https://www.msig.com.my) or PIDM (visit www.pidm.gov.my).