How do my solar panels relate to my homeowners insurance?
The good news is, most homeowners insurance plans will cover your PV solar system! As long as you have roof-mounted panels and own your system, your solar is considered a part of your home and therefore covered by most insurance plans. Solar energy systems are, generally speaking, considered an attachment to your home in the same way that a deck or new garage would be, and enjoy the same insurance protection.
If you have a ground mount or a different type of solar addition, it may be considered an add-on, but that is less common with residential solar systems. Most homeowner insurance policies protect against ‘perils’, which are certain plausible risks that pose a threat to your home. Common perils are wind, fire, and other unlikely but damaging situations and conditions.
Because your existing insurance plan extends to your panels, it is important to reassess your coverage to know under which circumstances your homeowners insurance will offer protection. In some cases, it may be wise to make adjustments to your coverage before installing solar.
Considering the high value of your solar system, it may be worth investing in a homeowners insurance plan with a higher coverage limit. In the case that your panels get damaged, repairs can be extremely costly, so it is worth it to get a larger coverage plan If you're unsure if your panels are still working, you can find advice here. As with any home addition, one should consider upping the coverage of their homeowner insurance. While solar panels are built to be very durable in many varied environmental and weather conditions, is it wise to increase coverage just in case.
What about a PPA?
If you have a PPA, or some sort of third party financing, the system owner is responsible for maintenance and coverage of the solar. While it is important to look closely at the agreement for any and all details, in most cases the third party completely covers any solar related insurance.
Invest in a good system with a trusted installer!
The best way to ensure the protection and longevity of your solar system is to invest in a quality system. Most panels are manufactured to be durable and withstand a variety of weather conditions. We hope this has assuaged any concerns in your mind as to the basic protections and legalities for your solar in the event of a mishap - and we invite you to get a solar consultation for your home to take advantage of current incentives and start paying lower utility bills with clean energy! Working with Ipsun, you can be sure that the solar modules we install are high quality and built to last.