SOLAR PV SYSTEM INSURANCE
Designed to cover your solar power system against a wide range of risks including fire, theft, natural disasters and accidental damage. Whether you’re a homeowner, business, or solar project owner, we ensure that your renewable energy asset stays secure and functional.
With affordable premiums and flexible wider coverage options, TPL Solar PV Insurance provides peace of mind and financial protection against unforeseen events.
Key Features
Comprehensive Protection
Covers damage due to fire, lightning, earthquakes, storms, floods, burglary, bullet fire and more.
Weather-Related Coverage
Includes hail, rain, cyclone, wind, and other atmospheric disturbances.
Burglary Protection
Secures your panels against theft with violent and forcible entry.
Frequently Asked Questions
TPL Solar Insurance is a policy that protects your solar PV system against a range of risks including fire, natural disasters, theft, and other unforeseen damages.
While not legally mandatory, some banks may require solar insurance as a financing condition. TPL’s policy includes a bank mortgage clause to fulfill such requirements.
Premium can be paid in full at the time of issuance. If installment payment is agreed upon, coverage may be suspended if any payment is missed.
Yes, the policy can be canceled at any time. A refund will be processed on a pro-rata basis depending on how long the policy was active.
No, the policy is not automatically transferable. The new owner will need to apply for a separate policy or request a transfer through TPL Insurance.
The coverage will no longer be valid unless TPL Insurance is informed and approves the new location.
It covers damage or loss due to fire, lightning, explosions, aircraft impact, earthquakes, floods, hailstorms, cyclones, vehicle impact, riots, strikes, malicious intent, burglary, and more.
Yes, but only if it involves forcible and violent entry or exit. Theft by someone lawfully on the premises (e.g., staff or family) is not covered.
Yes, the policy includes coverage for earthquakes, floods, cyclones, and other specified atmospheric disturbances.
Yes, under Electrical Clause “B,” partial electrical damage (up to 40% of system value) is covered if caused by fire or lightning.
Exclusions include:
• War, terrorism, and nuclear risks
• Pollution or contamination
• Pollution or contamination
• Theft without force
• Indirect or consequential losses (e.g., business interruption)
• Damage from negligence or poor maintenance
• Pollution or contamination
• Pollution or contamination
• Theft without force
• Indirect or consequential losses (e.g., business interruption)
• Damage from negligence or poor maintenance
Yes, the payout is capped at the sum insured mentioned in your policy or the system’s market value at the time of loss—whichever is lower.
Immediately notify TPL Insurance and file a written claim within 15 days. Supporting documents such as photos, invoices, and a loss report will be required.
You must submit your claim within 15 days of the incident unless an extension is granted in writing.
A written claim, proof of ownership, invoices, photographs of the damage, FIR (if applicable), and any other supporting documents required by TPL Insurance.
TPL Insurance may choose to reimburse the system’s value or replace it, depending on the nature of the loss and the policy terms
Timelines can vary based on the nature of the claim and submission of complete documentation. TPL aims to resolve claims efficiently and transparently.
1. Vehicle Reg. No. is Correct, if not kindly call our Call Centre and notify immediately
2. Sum Insured of the vehicle. If it is less/greater than market value than you should increase/decrease the sum insured.
2. Sum Insured of the vehicle. If it is less/greater than market value than you should increase/decrease the sum insured.
Claim loading is applied when you take claim and is applied on renewal. For each claim 10% loading is charged on renewal. If you take 2 claims during your policy period, claim loading of 20% will be applied on renewal.
Any claim that is being resolved will affect the renewal premium. Once the claim is settled your premium will be adjusted accordingly.
No, it’s mandatory for insurance.
No Claim Bonus (NCB) is the discount which the Company allows on renewal if no claim made during the policy period. 5% NCB is provided on renewal and each subsequent year 5% is provided till it reaches 25%. In case of a claim two stages of NCB is withdrawn on renewal.
No. If you have 15% NCB and you take one claim then on renewal you shall be entitled of 5% NCB.
Need to inform our renewal team or at our contact center. In case where the vehicle tracker device is owned by us please ensure that this is removed by TPL Insurance. For query please call on 111-000-301.
There is no grace period.
