Adding Solar Panels To Home Insurance

Depending on your insurer certain types of installations might require an add on or separate policy such as ground mounted solar.

Adding solar panels to home insurance.

Residential solar energy installations are typically covered as part of a standard homeowners policy according the u s. Luckily many homeowners insurance cover residential solar energy installations as part of a standard policy. 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. These rooftop solar panels are usually considered a permanent attachment to your property similar to a patio or a security system and can therefore be considered a form of home improvement.

Yes most home insurance policies do cover rooftop solar panels. In most cases homeowners insurance providers consider rooftop mounted solar panels permanent attachments to the structure of your home. This means most homeowners policies will provide coverage and that you will not need a separate solar panel insurance policy. By installing solar panels you are enabling your house to produce its own electricity.

That means that in many cases covering your solar panels under your home insurance won t create the need for a special add on or rider won t change your plan and won t increase your premiums. If your home came with solar panels installed already then the cost to insure solar panels is already included in your homeowners insurance premium however if you are planning on adding solar panels to your home then the cost to replace your home may increase by the value of the solar panels. Since solar panels are such a big investment you need to make sure they re insured in case anything happens. Department of energy s national renewable energy laboratory nrel.

In most cases there is no need to get additional insurance to cover your solar panel system. Adding solar panels affects the value of your home your homeowner s insurance rate is based on the cost of replacing your home in other words the amount of money needed to rebuild your house with the same materials and features it has today. It protects your panels against perils like theft or damage from wind or fire. Here are a few points to consider.