EXTENDED WARRANTY FOR INVERTER MODULES

Provision of Cover
The guarantee provides cover against breakdown of Inverter Modules worldwide for manufacturers or O & M companies.

– Breakdown: the sudden and unforeseen breaking, distortion, overheating or electrical burnout of any part of the Inverter Module 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.

Benefits

  • 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 regardless of number of hours worked
  • Claims settled in house without the need of a loss adjuster
  • Renewable every five years

General Eligibility for Cover

  • The age of the installation must not exceed 10 years at expiry
  • Eligible installations must be fixed and installed at premises owned or occupied by the customer
  • Inverter Module: where the manufacturer is approved by CNC Asset Ltd.

Principle Exclusions

  • 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.

Premium Payment
The premium is payable in full at inception.

Claims
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.