The guarantee provides cover against breakdown of Power Storage Systems worldwide for manufacturers or O & M companies.
- Lithium Ion and Lead Acid Gel batteries.
- Complete Power Storage System covered: battery management system including battery, inverter, temperature control equipment and meter.
– Breakdown: the sudden and unforeseen breaking, distortion, overheating or electrical burnout of any part of the Power Storage System which occurs whilst it is in use, resulting in its immediate stoppage of function or partial stoppage of pre-programmed function and requiring repair and/or replacement before normal working can be resumed.
– Income Protection: repayment of lost income following Breakdown.
There will be a maximum limit of indemnity per claim and in the aggregate over the guarantee period.
- Simple to arrange and buy.
- Increases revenues for maintenance and spare parts.
- Enables the signing of major contracts.
- Protects the sales / operating margin.
- Non-cancellable by the Insurer.
- Repair or replacement costs are paid for the components that have failed.
- Fixed premium/cover up to five years – the cover and premium will remain unchanged regardless of the number of claims.
- No usage restrictions – cover will apply up to the earlier of the cycles completed or the period of cover.
- Claims settled in house without the need of a loss adjuster.
- Renewable every five years.
General Eligibility for Cover
- The age or usage of the installation must not exceed 10 years or the number of cycles at expiry of the guarantee.
- Eligible installations must be installed at premises owned or occupied by the customer.
- Power Storage System: where the manufacturer is approved by CNC Asset Ltd.
- The policy deductible.
- Consequential loss.
- Theft or attempted theft.
- Loss or damage caused by fire, lightning, aircraft, explosion, ingress of water or accidental damage or covered under a manufacturer’s warranty or another party’s warranty or guarantee.
- Wear and tear, gradual deterioration, rust or corrosion, intentional overloading, testing or commissioning, and degradation.
- Breakdown caused by the failure of the controlled temperature environment.
The premium is payable in full at inception.
Claims must be reported as soon as possible and a completed claim form submitted within 30 days of the occurrence. Parts must be retained for possible inspection.
Cancellations and Refunds
Pro-rata refund of premium if the installation is sold or the customer ceases to trade. Terms and Conditions apply.
A guarantee wording is available on request.
For more information please contact us.