How do alternative power sources affect your insurance?

From loadshedding to load reduction we Good South Africans are really going through dark times (pun intended). The sales of alternative power sources like generators, inverters, and uninterruptible power supply (UPS) devices have reached an all-time high in the last couple of years.

There are a few things you need to be aware of when it comes to your insurance policy and alternative power sources.

Solar panels, and some generators, are attached to the property which means they should be covered under your Buildings Insurance policy. They do not need to be specified separately. You do however have to inform your insurer and adjust your total sum insured.

If you have a device that is not attached to your home – like an inverter or UPS for example, it would be insured under your Home Contents cover. These devices do not need to be specified but the complete total sum insured should be reviewed to ensure it is enough to cover the replacement of the items.

We have also noticed an increased number of break-ins during loadshedding, and we urge you to always stay alert. When it’s loadshedding the lights are off, so is the alarm, gate motors and electric fences, which makes it easier for criminals to enter your property and spend a longer time in it.

We know that alternative power sources are extremely expensive, so here are some budget-friendly ideas you can consider when the lights go out:

1. Switch to energy efficient light bulbs. They can be more expensive, but last longer and use far less electricity.

2. Consider getting a newer fridge, they are far more energy efficient and will save you more in the long run.

3. Smart plugs can be set to completely switch off your appliances like TVs and sound systems, compared to just putting them onto stand-by mode which consumes a lot of power. You can connect most smart plugs to an app allowing you to set preferences, schedules, and names for the devices.

4. Timers, or smart switches - whether for geysers or security lights - will help you only consume electricity at specific times.

We hope that these tips are helpful. You know what they say, “dark times don’t last forever”.