Joshua 
Solar panels can be a great way to save money and generate energy. You’ll need to take care of your solar panel system like any other great investment.
How can you protect your solar panels? Is there any solar panel insurance that you can buy?
Good news! You may be covered under your homeowner’s insurance. Continue reading to find out more.
Is SOLAR PANEL INCURRED BY HOME INSURANCE?
Your homeowner’s insurance will likely cover your solar panel.
Your homeowner’s policy will cover your solar panels as long as they are attached to your home. You will not be covered if your panels become damaged by a covered event.
COVERED PERILS
The types of damage that homeowners insurance covers are covered perils. Your homeowner’s policy might cover repairs or replacements if your solar panel is damaged by hail or fire.
You won’t likely be covered for damage due to wear and tear, flooding or earthquakes under your policy. To protect your panels, you will need to buy a separate policy.
Talk to your insurer about your policy to ensure your panels have adequate coverage in an emergency.
DO SOLAR PANELS INCREASE HOUSE INSURANCE?
Your homeowner’s insurance policy could be affected by your solar panel. Your insurance rates will rise because solar panels increase the value of your home.
To provide adequate coverage for the home in case of an accident, homeowners’ policies usually rate their premiums based on the property’s value. To match the value of your home, you will need to increase your insurance coverage.
GETTING A ADDITIONAL INSURANCE POLICY FOR SOLAR PANELS
You may need additional coverage, or purchase a separate policy for solar panels. You will need a separate policy to cover your solar panels if they are not attached to the roof of your home, ground-mounted in your garden, wall mounted on a separate surface or mounted on a carport.
Your homeowners policy will cover solar panels that are attached directly to your home. Every insurer has a different policy, so make sure you contact your agent to discuss the best way to proceed.
Do you need to tell your insurance about your solar panels?
Yes, it is a good idea to contact your insurance company regarding your solar panels.
Your insurance company will be able to re-rate you policy and determine if additional coverage is needed by you telling them that you have solar panel. You can also choose to have them offer insurance products that best protect your solar panel investment.
SHOULD I INCREASE OUR COVERAGE AFTER INSTALL SOLAR PANELS?
This question will depend on the rules of your homeowners insurance and your insurer. To ensure your solar panels are covered in the event that there is an accident, it’s a good idea to increase your coverage. Your agent can help you find the best coverage for you.
HOW SOLAR PANELS IMPACT HOME INSURANCE?
If you don’t have enough money to purchase solar panels, you can lease them. If you are interested in installing their solar power system, many solar energy companies will offer you the chance to lease their panels. Depending on which company you partner, this option can cost little to no upfront.
Because you don’t have the panels, you don’t usually need to buy insurance. It is important to contact your solar company to see if they offer insurance for them in the case of an accident or weather-related event .
Some companies might require that you purchase your own insurance policy. This question should be discussed with your solar energy provider.
