Solar Panels and Standard Policies
Residential solar energy installations are typically covered as part of a standard homeowners policy, according to the DOE, as long as the panels are mounted on the roof. Check with your agent to be sure if that’s the case with your own policy. If you’re considering a ground-mounted system, you may need additional coverage, the DOE says.
But, even if you’re considering roof-mounted panels, you may need to tweak your existing coverage limits to accommodate the new solar energy system.
For instance, if your home suffers damage covered under your policy and your solar energy system is damaged as well, you’ll want to be sure that the cost to repair or replace your solar energy system doesn’t exceed the current coverage limits on your policy. Talk to your agent to help decide whether adjusting your limits to accommodate your incoming solar electric system is right for you.
The DOE also suggests asking your agent whether you need to be aware of any issues that might affect the existing coverage for your roof, such as any roof penetrations that might occur during installation.
Whatever is driving your interest in solar energy, be sure to do your due diligence before moving forward. And then you can rest easy and enjoy the benefits of generating electricity by harnessing the ever-abundant power of the sun.
What are the benefits of the solar panel insurance?
Everyone is talking about environmental awareness and the practices that can lead to a healthy environment. Using solar panels is one of the popular Eco friendly practices that not only brings down your electricity cost but also reduces the energy consumption as well. So if you are planning to be a part of such a practice, it is very important to be familiar with all the aspects that relate to the solar panels. Let’s explore them for more information.
What is the need for the insurance?
Solar panels have become an important part of the energy efficient homes and this is the reason that more people are considering it as a part of their renovation. Having insurance keeps your system safe and protected so that you don’t have to bear the cost of the damage. The insurance coverage can include the damage due to accident, damage due to objects, inbuilt damage and lots more.