Home Isurance Wont Cover Certain Types Of Solar Panels

In most cases there won t be any change to your home insurance premium if you fit solar panels to your property.

Home isurance wont cover certain types of solar panels.

In most cases there is no need to get additional insurance to cover your solar panel system. Most rooftop solar energy systems are covered by standard homeowners policies which doesn t change your insurance plan. These along with costly price present a challenge to every insurer who is trying to keep a hefty payout at bay. Even worse some insurance providers might not cover such panels at all.

However you may need to increase the amount of coverage on your home to account for the cost of the system which can then raise your premium. To protect your investment you ll need to purchase a supplemental insurance policy to pick up where your home insurance leaves off. While rooftop solar is typically covered in a standard policy your insurer may or may not cover other types of installations such as ground mounted solar panels and solar panel carports. However some insurers may not cover them as standard so it s always worth checking.

However since solar is worth thousands or even tens of thousands of dollars and can add around 10 000 to 30 000 of value to your home we might recommend raising your coverage limit to cover the cost of your home with the solar panel system. Solar panels are exposed to the elements and damages from natural causes. Of course not every policy or solar energy system is the same. Many insurers cover solar panels as standard counting them as permanent fixtures to your home.