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Solar Panels Reduce Energy Bills :: What About Home Insurance Rates?

Maybe you want to reduce your carbon footprint, or maybe just save money (or even make some). It's all good, just don't forget to factor in the impact on your home insurance!

Government grants make now the perfect time to cut your energy bills. There is no question that almost any state in the US has the potential for energy savings from solar, even if you can't be 100% self-sufficient. However, homeowners in northern states might see higher increases in home insurance costs than are worth it!

Here are the facts:

  • Most home insurance companies will cover damaged solar panels for scenarios already on your policy, such as storm damage.
  • Solar panels do not increase home insurance rates with most companies. If your insurer wants to charge you more, switch.
  • Many solar panel owners actually pay less (2-3%!!!) for insurance, since providers believe them reliable and safe.
  • Use a professional solar installation company to prevent damage to your roof (it would not be covered by home insurance).
  • Northern state insurance providers are not as used to solar panel issues, so national providers are better for people in these regions.

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