Will Installing a Solar Energy System Increase Your Property Insurance?

In this article, we’re gonna discuss how adding a solar system will impact your property insurance. I’m Charles, and I’m Warren.  So the question today, Warren, is how will installing solar panels affect my property insurance? Yeah, the short answer Charles is that it will impact it and it’ll probably go up.

You want to make sure that you have adequate coverage to cover the solar array. – And account for that added cost, because that is gonna affect the payback period of your solar investment. – Correct. So it’s really important that you select a reputable solar installer for a number of reasons, but two of them that apply to this specific topic, and that is number one, that they carry their own insurance during the installation phase.

And number two, that they provide you with a cashflow analysis or a financial analysis that includes the additional costs of insurance. That you are gonna experience by putting it on your roof. Correct.

That’s correct. And if you would like to know if your installer carries the adequate insurance needed during the installation period, you can ask them and they should be able to supply that for you.

Yeah, so in conclusion, your insurance is gonna go up. You want to make sure that you’re adequately insured for the solar array.

Source : Youtube

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