Why do I need insurance for my Oahu home’s solar panels?
Solar energy systems that are attached to your house are considered permanent attachments, so the cost to insure them is typically rolled into your homeowners coverage.
What will change when you install these panels is the coverage limit on your policy. You’ll want to make sure that your policy limit is high enough to cover your home’s damage and the solar panels’ damage as well, especially if they experience severe damage.
You may even want to factor in your system’s complete replacement costs into your overall coverage limit. The price for a
residential solar energy system depends on the size of the system, the brand, and the location. Generally, a solar energy system costs around $15,000 to $20,000 after tax credits.
Does the solar installation type matter in the type of insurance needed?
Solar panels that are directly attached to your roof will typically be covered under your homeowners insurance policy. However, there are some instances where you may need to purchase additional coverage or have a separate policy specifically for your solar panels.
If you have a solar panel system that is not attached to your home’s roof, you may need to purchase a separate policy to cover it. This could include ground-mounted systems, wall-mounted systems, or systems mounted on a carport. Talk to your insurance agent to find out what coverage you need and make sure your solar panels are protected.
How about the value of my home?
If your solar panels increase the value of your home or business, it is important to make sure your insurance policy has enough coverage to protect your investment.
Another thing to consider is whether or not your solar installation makes your home or business more likely to be targeted by thieves. If you live in a high-crime area, it is important to make sure your insurance policy has enough coverage to protect you in the event of a theft. Finally, you should contact your insurance company to find out if they offer any discounts for homeowners.
Home insurance policies typically have a limit on how much they will pay out for damages. When you have solar panels installed on your home, it’s important to make sure that your policy limit is high enough to cover both your home’s damage and the solar panels’ damage. Severe damage to your solar panels can be very costly to repair or replace, so it’s important to factor in your system’s complete replacement costs into your overall coverage limit.
Who can help to install solar panels in my home in Oahu?
Getting solar is one of the most environmentally responsible choices you can make. But make sure you look into additional coverage if you notice your homeowners insurance policy does not adequately cover your solar panels.
The only way to know if your damages are covered is to reach out to your insurer. However, if you choose to partner with a reputable installation team, they will ensure that there is no damage to your roof during the installation process.
STI Solar Oahu can help with the purchase and installation process if you’re currently in the market for a solar energy system for your home. Our licensed and insured solar panel professionals will ensure that your solar panels are correctly installed on your home. Call us today at 808-664-1052 or visit our contact us page to request a free quote.
