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How Can I Be Sure my Solar System will be Covered in the Event of a Natural Disaster?

Many homeowners looking to switch to solar energy always question the security they will have if they install a solar system worth anywhere from $15,000 to $29,000 on their roof. After all, hurricanes and thunderstorms are common weather conditions faced in Florida, and while solar panels can withstand 160 mph winds, casualties can still happen. So, what is the best measure to take to protect an investment such as this? Will my homeowner’s insurance cover my solar system during unexpected events?

The answer is YES!

When you install a solar system to your home, the system becomes part of your property. This is due to the fact that your home will be generating its own electricity, making it a permanent extension of your home (Gautam, 2020). In some cases, there will be an increase in your homeowner insurance premium that is usually between $8 and $12; however, this add-on will guarantee coverage for your solar system in an emergency. As part of this policy, your homeowner’s insurance will cover any damages and repairs necessary if any natural disasters were to affect your solar panels.

What if my policy excludes damages made by specific threats or will not cover larger repair costs?

There are supplemental insurance policies you can add to your homeowner’s insurance that will not change your home’s policy, but rather cover the costs of your solar system. This will keep your homeowner’s insurance premium the same, but will increase the overall monthly expense by a percentage. Most homeowner’s insurance policies do, however, incorporate the solar system premium in their policy. Consider speaking with your insurance provider to see what options are available for those switching to solar energy (Gautam, 2020).

You can also modify your claim limits. According to Nationwide, “A claim limit is the maximum amount paid out for a loss that your insurance policy covers.” If this is an option available for you, consider it and look into the details to make sure your policy can guarantee the coverage. Also, speak with your agent and take note of any deductibles you may have to meet (Nationwide, n.d).

Now, if your homeowner’s insurance will not even consider covering your solar system, start shopping around to see what better policies are being offered. In fact, switching policies might reduce your insurance costs either due to the company’s lower prices or that the insurance company sees your solar system as efficient, providing you with discounts to help make such improvements. Ultimately, you want to find the best methods that will help you save, especially when investing in a system such as solar energy (Gautam, 2020).

All in all, deciding whether solar energy is a good fit for you requires a great deal of contemplation and time. Yet, while this is a big decision to make, it is nice to know that there are measures already set in place that can give you peace of mind when feeling anxious about your home, like homeowner's insurance. For more information about homeowner’s insurance with Equity Solar, give us a call at (407) 901-2040.


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