Solar panels are becoming more popular for homeowners. In the past decade, solar panel adoption has increased by more than 13%. More and more people are choosing to use Residential Solar Power Perth because of the benefits that it has to offer. If you’re one of them, you might be wondering if installing solar panels will affect your home insurance rates.
Generally speaking, adding solar panels will not increase your insurance costs. Here’s why:
Are Solar Panels Covered By Home Insurance?
Solar panels are an excellent investment if you want to generate energy while also saving money. And, as with any significant investment, you’ll want to safeguard your Residential Solar Power system in Perth.
How do you protect your solar panels? Is it possible to buy solar panel insurance?
The good news is that you may be covered by your homeowner’s insurance. Continue reading to find out more. Unfortunately, solar panels are not covered by home insurance. This is because they’re considered an investment rather than a property that can be insured.
Talking with your agent about adding them to your policy might be the best course of action. You may even need to pay extra for this coverage, so make sure to talk with them about the specifics of how much it will cost you before adding solar panels to your policy.
Things to keep in mind while your home insurance likely covers your solar panels:
Home insurance policies vary from company to company
You may have seen the word “fine print” in your policy documents, but what does it mean?
The fine print is information that’s printed in smaller letters on your insurance policy document. It contains important details about what the insurer will cover and not cover, as well as conditions for those things. For example, many policies include a clause stating that homeowners must maintain their roof at all times in order to receive full coverage if there’s a leak or other damage caused by weathering.
Many people think that policies are one thing and just assume they’re all identical from company to company. However, each insurance provider has its own way of writing up contracts—and these differences can lead to different results when you need to file a claim with them later on! There are three main types of declaration statements:
Most home insurance policies do not cover damage caused by weather or accidents.
Most home insurance policies do not cover damage caused by weather or accidents. For example, if your roof is damaged in a storm, you would have to repair the roof yourself unless your policy includes coverage for wind damage. Similarly, suppose a tree fell on your home and damaged it beyond repair. In that case, most policies will not cover this type of property damage because it was caused by accident instead of poor maintenance or mismanagement by you or someone else named on the policy.
Solar panels can increase your home value
If you are planning to sell your home, solar panels can increase its value. In addition to the energy savings that come with having Residential Solar Panels Perth on your roof, many buyers also appreciate their visual appeal. If you’re considering adding solars to your house in the future, it’s worth consulting with an insurance agent who can help you understand how they might affect your premium.
Talk to your home insurance agent about adding solar panels to your policy
Before you move forward with installing solar panels, it is vital that you speak to your insurance agent. Your home insurance agent will be able to provide details about how the addition of solar panels affects your policy. They can also help you determine whether or not adding solar panels is worth it for your personal situation and needs.
Conclusion
In the end, the question of whether home insurance covers damage to Residential Solar Panels in Perth is complicated and depends on many factors. It’s important to talk with your home insurance agent about what your policy does and does not cover and how you can protect yourself from any risk. Also, keep in mind that solar panels can increase your home’s value, making it more expensive to insure. If you’re considering installing new solar panels at your house, this might be an important consideration before making a decision!
