You see them everywhere. Solar panels are a great option for homeowners for a variety of reasons. Installing solar panels on your home has many benefits including becoming less reliant on your current energy provider and becoming more sustainable.
But, if the panels become damaged, this can be an expensive addition to your home .
The good news is that solar panel insurance coverage is often included in most homeowners insurance policies. This means no separate insurance would be needed. Typically, this is because solar energy panels are often permanently attached to your home and those things attached to your dwelling are typically covered as part of that dwelling. That said, we do recommend that you check with your agent or carrier to make sure that is true for your policy. Also, you should know that some of these policies may not cover every risk, such as wind. This is also important to understand prior to installing your system.
Next, we also recommend that you make sure that you double-check your dwelling value on your insurance policy. Solar panels are not inexpensive, so they will likely increase the total replacement cost of your home should you have a covered loss. This is why it’s important to make sure that the value of the panels is calculated into your overall dwelling coverage amount. This is a great topic to discuss with your licensed agent, too.
When may you need additional insurance?
Not all solar panels are installed on the roof of homes. When the systems aren’t on your home- maybe they are mounted on the ground or a separate outbuilding, you may need a separate or add-on policy. Again, this is the time to have a conversation with your agent to make sure your investment is properly protected.
What about installation?
It’s also important to ask if installation is covered. Your agent can help you with this as well. Typically, experienced solar installers will offer a workmanship warranty to cover any potential damages to your roof or panels. Always discuss that with your installation company prior to entering into a contract.
If you are interested in learning more about this, or homeowners coverage in general, feel free to give our agency a call at (603) 273-0953 or visit our website at keslarinsurance.com.
