Does current homeowners insurance cover solar panels?

The promise is that solar panels can help save money on your electricity bills. But how might getting solar panels affect your other bills, like homeowners insurance?

There are a lot of things to consider when shopping for solar panels for your home.

What happens if the panels are damaged? Does your current homeowner’s insurance cover solar panels?

ADT Solar’s Gage Mueller joined Amy Davis on an episode of Ask Amy to talk about what to ask before signing on the dotted line.

One thing people don’t think about is what it might mean for your homeowner’s insurance, he said.

“So the solar panels are technically attached to your residence, right? So, by attaching them to your residence, they need to be included in your policy. But your homeowner’s insurance just needs to know they’re there. I’ve had homeowners whose insurance premiums didn’t go up at all when they put in solar panels “In some cases, it has increased dramatically,” Mueller said.

You may want to consider increasing your homeowner’s policy limit since adding solar panels increases the value of the home.

If you are leasing your own solar panels, the leasing company may carry its own insurance on the panels.

Some insurance policies may not cover panels. If so, you can purchase separate solar insurance coverage to protect your panels.

Related: 4 things to consider before going solar

More people are thinking about using solar energy. There are plenty of other things to consider when shopping for solar panels. The Better Business Bureau has advice on what to consider before purchasing solar panels.

• Make sure the contract states what will happen if something breaks or if the manufacturer goes out of business

• Ask about guarantees

• Consider the condition of your roof

• You should also contact a tax professional to inquire about potential tax exemptions

One thing that is often overlooked when people think about going solar is the roof

“If your roof is more than 10 years old, more than 12 years old, it’s getting close to the 15-year mark. And you put these solar panels in there, which might be warrantied for 25 years. You probably want to replace the roof first, right?” Amy asks Davis.

“Because when it comes time to actually replace the roof, right now, those solar panels have to be removed and there’s a cost associated with that. And what happens is a lot of times people buy solar on price, right? They don’t do a lot of their homework and they dig.” And now you have solar panels on an old roof and the roof needs to be replaced. Well, now, who do you call to take those panels off? And if anyone comes in and starts touching those solar panels, that could void your warranties. So, you know, the cost of replacing and re Installing panels on the roof, you know, you’re looking at can range anywhere from $175 a panel to $350 a panel. “If you have 50 panels up there, that could be, you know, an expense you weren’t anticipating,” Mueller said. “.

Watch the full interview with Mueller to learn more about solar panels, including what to do if a solar panel company refuses to help a customer.

Amy also covered the issues some people have with solar panel companies. You can see all this content here.

If you have a question for Amy, email AskAmy@kprc.com.