Do I need insurance for a solar panel system?

In most cases, there is no need to get additional insurance to cover your solar panel system. However, since solar is worth thousands or even tens of thousands of dollars and can add around $10,000 to $30,000 of value to your home, we might recommend raising your coverage limit to cover the cost of your home with the solar panel system.

Are solar panels covered under buildings insurance?

Typically, solar panels are protected under your buildings insurance, as they are defined as being a part of the fixtures and fittings for the property. At Homeprotect, your solar panels are covered if you own or are legally responsible for them and they are fixed to your home, outbuildings or a permanent outdoor structure.

Will my insurance cover a solar panel fire?

In fact, most insurance policies will not cover damage caused by a solar panel fire if you cannot show that regular inspections and maintenance have been carried out. Of course the panel’s natural position on your roof can mean that inspection is both costly and can risk damage to your roof structure and tiles whilst access is gained.

Do I need insurance if I lease solar panels?

Individuals who lease their solar panels may not need to purchase additional coverage for their solar panels because some leasing companies carry their own insurance for the solar panels. It's best for homeowners to check with the company they're working with before they make any changes to their policy.

How much does home insurance cover solar panels?

There's usually a cap -- often about 10% of the policy's dwelling coverage -- on how much the insurer will pay to repair these structures. For example, if the home is insured for $200,000, other structures on the property are only insured up to $20,000. This might not always be enough to replace the full array of solar panels, if necessary.

Does insurance cover rooftop solar?

While rooftop solar is typically covered in a standard policy, your insurer may or may not cover other types of installations, such as ground-mounted solar panels and solar panel carports. Whether or not these separate systems are covered depends on your insurer's policy.