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DePaulo Agency

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Scotia, NY 12302

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How Do Solar Panels Impact my Home Insurance?

Millions of people have installed solar panels on their homes. Solar panels can help you save energy and lower your electricity bills since the panels generate electricity. They may even increase your home’s value. However, it’s important to find out how.

Many Home Insurance Policies Cover Solar Panels

Once solar panels are installed, they are considered part of your Scotia, NY dwelling by many insurers. However, each policy varies, so check with your insurance DePaulo Agency representative to make sure your insurance will cover them. If your home insurance covers solar panels, keep the following points in mind.

Your insurance may include an add-on for certain types of panel, particularly ground-mounted or carport-mounted panels. Solar panels are valuable, so you may want to adjust your coverage accordingly. Find out if your insurance covers damage during installation as well. Whether you buy or lease the panels can influence policy eligibility.

It’s a good idea to gather as much information as you can before you install solar panels. If possible, discuss the installation process, possible damages and other factors with each company you’re considering. Then, have a detailed conversation with your insurance agent before you purchase the panels.

Specific Coverage to Ask About

Defective solar panels and environmental damage to solar panels are two items you should understand. Solar panels generally have a 25-year lifespan. However, if one’s defective, it’s nice if your home insurance policy covers that. If all the panels are working, the second thing to monitor is environmental damage to solar panels and find out if it’s covered.

Solar panels can save money and energy, but it important to understand how that impacts your insurance. Contact an expert at DePaulo Agency in Scotia, NY to find out more about all your insurance needs. Feel free to make an appointment for a free quote.