Solar Panels and Home Insurance

Five Questions to ask your insurance company about Solar Panels

Solar Panel Coverage on a home insurance policy can vary widely based on the insurance company, the type of insurance policy you have and the type of installation of the solar panels.

Are solar panels covered by home insurance?

Solar panels can almost always be included in your Home Insurance Dwelling Coverage, though the coverage type and cost can vary widely. To receive the most accurate assessment, be prepared to share some information about your plans, including:

•Location of the solar panels •Contractor information •Type of solar panels •Number of solar panels

If you are unsure about the location of the solar panels, ask your insurance company how insurance coverage might vary for ground-based versus rooftop installations.

What type of damage to solar panels is covered?

Your location will often determine the type of damage you should be most concerned about. This is a great conversation to have with your insurance company or agent. When you talk with your insurance provider, ask about coverage for these types of damages:

•Storm damage from high winds, lightning, tornado or hail •Snow and ice •Theft/vandalism •Fire

Do I need a policy amendment in order for my solar panels to be covered?

Whether or not you need an endorsement or amendment to your policy for solar panels varies by insurance company, so make sure you ask. Taking the time to ask the question will be well worth the comfort of knowing your investment is covered.

What is the cost for having Solar panels on my home?

The rate schedule depends on many factors of the home. Typically, the Dwelling coverage will be increased to provide proper coverage for solar panels. The cost can vary and it is a question you will want to ask your agent

What if I am leasing solar panels for my home?

Some solar companies will allow you to lease solar panels, rather than buy. If you are considering leasing solar panels instead of buying, look closely at the insurance policy provided through the solar panel company in the lease agreement or contract. Your provider will likely have a variety of insurance options and varying terms of coverage. Share this coverage with your home insurance provider for review. You'll want your insurance company to verify nothing in the policies conflicts.

Insurance providers, coverage and terms can vary. Consult your provider or insurance agent for detailed coverage information before making your purchase or signing a lease.

Eleni Andrzejewski, LUTCF Liberty Mutual Insurance 110 Court St Ste 3B Cromwell, CT 06416 860.344.9909 Ext 52194 [email protected]