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Solar Panels have become an increasingly popular investment for homeowners due to clean energy and low utility rates. It has become so popular that millions of people have installed solar panels on their roofs in 2019. According to the SEIA, Florida is one of the top five states in the U.S. leading the solar market. While being environmentally friendly, solar panels also add thousands of dollars’ worth of value to your home. Even though prices continue to decrease for solar panels, it is a significant investment so most people wonder if they can be insured. Here is some information about solar panels and insuring them with your home.

  • Most insurance carriers cover solar panels. That being said, every insurance carrier is different. Your insurance company might require an add-on or separate policy for certain types of solar panel systems.

  • These rooftop solar panels are usually considered a permanent attachment to your property, similar to a patio or a security system and can, therefore, be considered a form of home improvement.

  • Your insurer may or may not cover types of installations. Whether it is ground-mounted or solar panel carports, you should check with your insurance carrier to see if the type of installation you have is covered.

  • The installation process could possibly not be covered. One thing to make sure to ask is if your insurance coverage extends to the installation process. Most qualified installers will offer a warranty in an event there is damage to your home or your solar panels as a result of the installation process.

  •  If the solar panels are covered under your home insurance policy, you should talk to your insurer about increasing the limits on your coverage.  Make sure you are properly covered because panels are expensive property.

  • If you are leasing your solar panel system or if you bought it on a power purchase agreement (PPA), the panels will be covered by the third party who technically owns them. This means you won’t have to worry about insurance at all. However, always clarify the details with the PPA or lease provider before signing any agreements.

Speak with our insurance agents at Ample Insurance to see what your options are and whether or not your existing policy will protect the panels in the first place. If your home insurance provider refuses to cover your solar panels, start shopping for a new policy. Call us at 321-222-1488 to speak to an agent about finding the right coverage.