Installing solar panels is eco-friendly and can cover a good amount (if not all) of your utility bills over time. However, determining if your insurance policy covers them can protect this major investment. Panels mounted on the roof are likely considered part of the structure and qualify for coverage.
Yet, some types of panels might not be covered, such as solar carports or ground-mounted solar panels, and some companies won’t cover them at all. A supplemental policy may sometimes be necessary to determine where home policies leave off. These are also called add-ons or riders in the realm of insurance.
Is There Coverage if Solar Panels Are Damaged? Installation
For starters, it will help to work with an experienced team in solar systems, especially if you have coverage in place before installing them. Otherwise, your insurance might not cover this damage, resulting in out-of-pocket expenses. You’ll be able to confirm coverage with your agent about damage during installation but be prepared to show that they are qualified professionals when doing so.
What Homeowners Should Know About Coverage
Traditional home insurance policies usually do not cover floods and earthquakes in storm-damage-prone areas. However, most insurers provide an add-on to cover them as well with a supplemental policy. In many hurricane-prone states, standard home insurance policies will likely not include wind insurance without a rider.
Considering Installing Home Solar Panels?
Before taking this action, discuss the matter with your insurance company to ensure that your home insurance or a supplemental policy will cover them from installation through completion. Here at Blevins Insurance Agency in Lafayette, IN, we’re here to answer all your questions and help you protect your investment.
