Are you wondering if your solar panels are covered by your home insurance? The answer is yes! As long as your solar panels are connected to your home, they will be protected under the housing portion of your homeowner's policy. However, you will only receive coverage if your panels are damaged by a covered hazard. Your solar panels are covered for the same events that can affect the rest of your home. This includes wind, hail, fire, lightning, or even theft.
Before you receive a payment, you'll need to pay your policy deductible. This is the out-of-pocket amount you are responsible for paying before your insurance goes into effect to cover the rest. If you lease solar panels to a solar company, it's up to the company to properly secure the solar panels. Qualified solar installers often offer a labor guarantee that will cover you in the unlikely event of damage to your roof or solar panels as a result of the installation process.
Solar panels that are not connected to your home, such as ground-mounted panels, may be covered by your homeowners insurance policy under the coverage of other structures. If you lease your solar panels, you may not need to insure them yourself, as some leasing companies have their own insurance for the panels. It's important to tell your insurance company that you have installed solar panels in your home. Solar panels will lower your electricity bills by generating electricity on site for 25 years or more.
While your solar panels are likely to be covered by your standard homeowners insurance policy, you may want to talk to your insurer to increase your coverage limit.