Can solar panels be added to my home insurance policy?
The installation of a solar panel system on your home is a great investment for homeowners. Because it is an investment, it’s one that’s worth protecting and needs to be added to your homeowners insurance policy in the event catastrophe strikes. The latest hurricane season is a reminder of that, with Hurricane Florence taking aim at North and South Carolina.
Because rooftop solar panels are considered part of your home, most insurers will incorporate them into your existing policy for little or no added cost. However, all insurers are different, so it’s important for you to check your policy to determine eligibility and/or limits on coverage. And if you are considering a ground-mounted system, know that your insurer could treat that differently because it is not attached to your home.
Another thing to consider when insuring your solar panels is whether you need to raise the coverage limit on your home. The added value of your solar system plus the current value of your home could exceed your current coverage limit. That may be increasingly likely if your home’s value has risen significantly in recent months and years.
The good news is that the solar market is mature enough that insurers know how to handle solar panels, and because the panels themselves require little maintenance and come with 25-year warranties, they are not seen as being very risky to insure. If insurers see the quality in the product, so should you.
With Power Home Solar’s innovative solar program, homeowners can go solar for $0 up-front cost, save money on their electric bills, and generate their own clean energy. The solar panels installed on your home are American made and come with a 25-year warranty, with many panels expected to last well beyond that.
Please feel free to fill out the form below or contact Power Home at 800-765-2715, and one of our solar representatives will help you determine whether your home qualifies for this program.