If you are considering installing solar panels on your home, you may be wondering how they will be covered by your homeowners insurance policy. In most cases, solar panels are covered by homeowners insurance, but it is important to review the specific terms of your policy to understand what is and is not covered.
Are Solar Panels Covered by Homeowners Insurance?
In general, homeowners insurance policies cover damage to the structure of your home, including damage to your solar panels. This coverage may also extend to damage to the electrical systems that are connected to your solar panels. However, the extent of this coverage may vary depending on the specifics of your policy. It is always a good idea to review your policy carefully and ask your insurance company or agent if you have any questions about your coverage.
What Is Typically Covered by Homeowners Insurance?
Most homeowners insurance policies cover damage caused by events like fire, lightning, wind, hail, and theft. If your solar panels are damaged by one of these events, your policy should cover the cost of repairing or replacing them. In addition, your policy may cover damage to the electrical systems that are connected to your solar panels, as well as any other damage to your home that is caused by a covered event.
What Is Typically Not Covered by Homeowners Insurance?
There are some types of damage that may not be covered by your homeowners insurance policy. For example, if your solar panels are damaged by normal wear and tear or by a lack of maintenance, your policy may not cover the cost of repairing or replacing them. In addition, your policy may not cover damage caused by events that are specifically excluded in your policy, such as flood or earthquake damage.
Can You Get Additional Coverage for Your Solar Panels?
If you are concerned about the potential for damage to your solar panels, you may be able to purchase additional coverage through an endorsement or a separate insurance policy. An endorsement is a modification to your existing homeowners insurance policy that provides additional coverage for specific types of risks. For example, you may be able to purchase an endorsement that covers damage to your solar panels from a specific type of event, such as wind or hail.
Alternatively, you may be able to purchase a separate insurance policy specifically for your solar panels. This type of policy may provide broader coverage than an endorsement, and it may be a good option if you are unable to find the coverage you need through an endorsement.
Conclusion
Solar panels are typically covered by homeowners insurance, but the extent of this coverage can vary depending on the specifics of your policy. It is always a good idea to review your policy carefully and ask your insurance company or agent if you have any questions about your coverage. If you are concerned about the potential for damage to your solar panels, you may be able to purchase additional coverage through an endorsement or a separate insurance policy.
