Solar, solar, everywhere!
Solar energy is one renewable energy that has become a hot topic among homeowners. (Pardon the pun.)
That being said, the question is, how are they insured?
Is there insurance coverage for solar panels? Who is responsible for insuring them?
If you own
As of now, there is no specific insurance policy for solar panels. If you own solar panels that are on your residence or property you would have coverage through your homeowners policy. It’s key that you notify your local agency and update your policy as soon as you have them or better yet before you buy, or you may not have the necessary coverage. Call us for more information.
If you lease
When leasing solar panels, usually the company you lease from is responsible for insuring them. Be sure to have a clear understanding of your contract. Also be aware that if you sell your home while still in a lease, the solar company could have a say in who buys your home. Be careful whenever you have a contract. Call you local insurance agent for more information.
We are here to help with further question you may have.