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Solar Panel Coverage: How Solar Panels Affect Home Insurance

Apr 19, 2023

Homeowner Insurance

Solar Panel Coverage: How Solar Panels Affect Home Insurance

Solar roofs are spreading across America as a solution to cutting energy prices and protecting the environment, leading to a better quality of life. Since solar panels can get damaged by environmental conditions, such as severe storms, it's a good idea to investigate home insurance for solar panels.

Does Home Insurance Cover Solar Panels?

Since solar panels are attachments to your roof, they may be covered under the dwelling portion of your home insurance. As long as the panels are attached to a covered structure on your property, they may be covered, but policy specifics differ among insurers. If your current homeowners insurance policy doesn't cover solar panels, you can add home insurance for solar panels as an endorsement at an extra cost.

Do Solar Panels Increase Home Insurance?

Yes, adding solar panels to your roof can increase your overall insurance cost, partly because they increase the value of your home. The home's value is a crucial factor in calculating your insurance rate. However, it's still possible for this extra cost to be offset by energy savings generated by solar power.

Do You Need to Tell Your Insurer About Your Solar Panels?

To keep your home best protected, it’s important your agent is aware of upgrades to your home, like solar panels. Your trusted advisor at Tompkins Insurance can then keep updated on your coverage options.

Learn More About Covering Solar Panels

At Tompkins Insurance Agencies, we are ready to answer your questions about solar panel coverage. Contact us today to learn more about your options.

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