Skip to main content

Solar Panels And Homeowners Insurance

By August 19, 2022August 22nd, 2022Insurance

As electricity costs skyrocket and electric cars are more and more prevalent with the increased cost of gas, many homeowners are looking at their roof or land owners are looking at an open field and wondering about solar panels.

Common Questions About Solar Panels & Insurance

  • Are solar panels worth the initial investment?
  • How will getting solar panels on my roof impact my homeowners insurance coverage?
  • Should I get additional insurance coverage to protect the solar panels I just purchased?
  • Will the solar panels protect my roof and help it last longer?
  • Does Homeowners Insurance cover solar panels?

We will try to answer these questions and more about solar panels for your home.

Does Home Insurance Protect Your Solar Panels?

Yes! Most homeowners policies will cover your solar panels, so you do not have to purchase an extra warranty or additional coverage. Your solar panels are included in a homeowners insurance policy, so now the question is, how do they impact your insurance?

How Solar Panels Directly Impact Your Home Insurance

Most solar panel setups are automatically covered with your home insurance plan. It is a good idea to contact your insurance company when you get solar panels installed. This will ensure that your solar panels are protected with the appropriate homeowners insurance coverage. If your insurance company is unaware of the solar panels being installed, you might not have the proper coverage for your home. Depending on the replacement costs for the solar panels, you might see the slightest increase in your home insurance premium.

Why Do Solar Panels Cause A Home Insurance Premium Increase?

This is simply because solar panels are expensive and valuable. Additionally, they are outside in the elements and are likely to be damaged by consistent rain, hail damage, or from incorrect installation and high winds. No matter what damages your solar panels, the replacement cost for them is high.

Do Solar Panels Protect My Roof?

Solar panels on your roof do not cover every inch of the roof, so there will still be a lot of wear and tear on your rooftop. There is a likelihood your roof will last longer since a large majority of it is covered by the solar panels. There is a risk that your roof is damaged during installation. You should consider installing solar panels just after your roof was redone.

Are Solar Panels Still Worth It?

Despite the added insurance cost, the financial benefits of getting solar panels installed cannot be overlooked. They increase the value of your home, will make your roof last longer by providing a second protective layer, and it will lower your electricity cost.

Contact Strickler Insurance To Make Sure Your Solar Panels Are Covered

If you are located in Lebanon, Pennsylvania like us, there is a high likelihood you are surrounded by open fields and receive sunlight all throughout the day. If you are interested in getting solar panels, you obviously care about your home and saving money. So do we. Contact Strickler Insurance for a free quote for your home insurance.