Are Solar Panels Covered by Homeowners’ Insurance?

Are you considering adding solar panels to your home? Homeowners must consider many factors regarding solar panels and their homes, like insurance. Below, we answer key questions regarding homeowners’ insurance and solar panels, like whether they’re covered under the same policy.

Yes, Most Homeowners’ Insurance Policies Cover Solar Panels

While every homeowners’ insurance policy is different, the policy will include coverage for solar panels in most cases. Generally, a solar panel system is considered a permanent attachment to your home and property and falls under the “Other Structures” part of the coverage.

This part of the homeowners’ insurance policy covers fences, detached garages, and solar panels. While this is how most homeowners’ policies treat solar panels, homeowners should check the fine print of their policy or call their agent if they have questions about insurance for solar panels.

Will My Solar Panels Increase My Homeowners’ Insurance Rates?

Another thing homeowners should consider regarding solar panels is their insurance rates. Because most standard homeowners’ insurance policies include solar panel coverage, homeowners won’t need a separate policy or a change to their existing one.

While you’re unlikely to see an increase in the premiums for the homeowners’ insurance after installing solar panels, your plan will likely adjust regarding coverage limits. These limits will account for the possibility that the solar panels will need to be replaced at some point.

Do I Need Insurance Coverage for My Solar Panels?

Not every homeowner with solar panels needs to add them to their insurance policies or create a separate policy. If, for example, you’re leasing the solar panels from a company, you may not have to insure them yourself, as many solar panel lease companies carry their own insurance.

If you’re deciding between buying or leasing solar panels for your home, consider insurance and how the panels will affect your homeowners’ policy.

Do Solar Panels Break Often?

Solar panels are remarkably durable and reliable despite bearing the brunt of outdoor conditions, so they don’t break easily. Most warranties for solar panels and their systems last at least a decade, but it’s common for solar panels to operate in good condition for at least 20 years.

Install Solar Panels at Home With Earthlight Technologies

After learning more about solar panels and homeowners’ insurance, are you ready to add panels to your home? If so, contact Earthlight Technologies, one of the leading solar companies in CT that services homes and businesses. Equip your home with solar panels and start saving on energy bills today!