Homeowners Who Access NHT’s Smart Energy Loan Urged to Get Proper Insurance Coverage

Homeowners who invest in renewable energy solutions through the National Housing Trust (NHT) SMART Energy Loan are being urged to take critical steps to protect their investment through proper insurance coverage.

Assistant General Manager for Corporate Communications and Public Affairs, Dwayne Berbick, made the appeal while speaking on a recent Jamaica Information Service (JIS) ‘Get the Facts’ programme.

“Property insurance is something I recommend for all homeowners. Once you’ve installed the system to the property, I would recommend that you get a new valuation done to reflect what’s now the true value of the property with the system added to it and ensure that the insurance coverage extends to all of that and there’s full replacement in the eventuality of some kind of natural disaster,” he advised.

He said these upgrades not only reduce energy costs but also enhance property value and should not be overlooked.

Mr. Berbick emphasised that ensuring full coverage for properties with the smart energy solution is a personal responsibility of the homeowners.

Beneficiaries are also encouraged to negotiate warranty agreements with system installers to provide additional peace of mind, especially for expensive components, such as batteries.

“Even if it’s not a full 10-year warranty, get coverage for key parts of the system,” Mr. Berbick said.

The NHT’s SMART Energy Loan is designed to help contributors outfit their homes with energy-saving technologies, such as solar panels, solar water heaters, rainwater harvesting systems, and other renewable energy solutions. It is accessible to individuals aged 18 to 70.

Interested persons can apply through the entity that they accessed their mortgage.

This is either directly through the NHT or one of the organisation’s External Financing Mortgage Partners (EFMPs).

For more information, individuals can visit the National Housing Trust’s website at www.nht.gov.jm.