Insurance Questions

  • Is additional homeowners insurance required for a renewable energy system? Not necessarily. Most insurance companies cover home solar panels. In fact, many carriers may offer a slightly lower rate because environmentally friendly people are less likely to make an insurance claim. Some insurance companies have even been known to offer a 2% to 3% discount for home solar panels. However, some insurance companies will charge a fee for home solar panels, arguing that it adds an increased value to the home. Check with your insurance agent to make sure your carrier will insure your renewable system and see if you can get a discount or lower rate. Also, check with your power provider for any insurance requirements they might have.
  • Does my utility require addition insurance on my renewable system? Many utilities do require insurance. Make sure to ask your electricity provider.