Solar panels are becoming increasingly popular in Glendale, CA as more homeowners aim to adopt eco-friendly practices. The installation process is efficient, and solar panels often pay for themselves through the savings on your electric bill. However, it’s important to understand how solar panels can impact your home insurance to avoid unexpected surprises.
Coverage
Most standard home insurance policies cover solar panels, meaning they are protected against damage caused by events like wind or hail. However, this coverage typically applies only to panels that are permanently affixed to your home.
Coverage limits are another vital factor to consider. These limits refer to the maximum amount your home insurance policy will pay for damages. If the cost to repair or replace your solar panels exceeds your coverage limits, your insurance may not fully reimburse you for the damages.
To ensure your solar panels are adequately protected, consult with a professional at an insurance company like Voi Insurance Solutions LLC. They can help you review your policy and make adjustments if necessary.
Premiums
Adding solar panels to your home may affect your insurance premiums. Because solar panels can be more vulnerable to damage from natural disasters, insurance companies may need to pay more in claims. Additionally, higher coverage limits may be necessary, which can lead to increased premiums.
Some insurance companies offer homeowners the option to increase their coverage to account for solar panels, but this varies by provider. It’s essential to understand whether your current policy will cover potential damages to your solar panels.
Solar panels are an excellent way to reduce your environmental footprint, but it’s crucial to understand their impact on your home insurance before installation. Speak with a representative at Voi Insurance Solutions LLC to determine how your premiums may change. We proudly serve the Glendale, CA area.