Going solar is a significant investment, meaning you will want to make sure the system is insured against damage and other unplanned events. Homeowners insurance normally covers solar panel systems as part of your property, giving you peace of mind. However, the type and extent of coverage may differ depending on several factors. The following are some home insurance guidelines and considerations for Nevada homes with solar panels.
Typical Home Insurance Coverage for Nevada Solar Panels
The typical home insurance coverage will cover solar panels against most damages, but the extent of coverage depends on their location. If your solar panels are rooftop-mounted, they may be covered by your policy under the dwelling coverage. Ground-mounted solar panels may fall under “other structures” coverage.
However, there is a big caveat: You will want to review your policy details with your provider to understand your coverage levels. Also, you need to be on the lookout for wind and hail exclusions. Not all policies cover these, as some companies may require you to pay a separate wind and hail deductible.
Instances When Additional Coverage Is Needed
Depending on the type of solar panel on your property, you may need to get supplemental insurance. Most times, the dwelling coverage of your homeowner’s insurance policy does not offer adequate coverage limits for expensive solar systems. Contact your insurance provider to clarify your policy provisions.
If your home insurance does not cover or provides minimal coverage for solar panels, you may need to get a separate policy. Also, depending on your solar system’s size, you may need supplemental coverage. If you want to add to your insurance policy, take time to conduct thorough research.
Why It’s Important To Have Coverage Due to Hail Storms
While hail storms are rare in Nevada, you can occasionally expect one to pass through your area. Solar panels are built to withstand harsh environmental factors such as strong winds and heavy rains for many years, but hail poses a different level of threat. Solar panels can take light-to-moderate impact, but severe hailstorms will damage them.
Depending on their size, hailstorms can cause scratches, cracks or even puncture holes on the external surfaces of the solar panels. Such damage can affect the solar panel’s performance and even increase the risk of electrical fires because of faulty wiring. Having hail storm coverage will help you avoid costly repairs.
Solar Panels and Home Insurance FAQs
Are maintenance services covered under my home insurance policy?
No. Maintenance services are left to the homeowner to handle.
Will installing solar panels increase my home insurance premium?
Yes. Solar panel installation will increase your home’s value and raise your home insurance premiums.
Does home insurance cover my leased solar panels?
It depends. If you lease your solar panels, the company you lease from will often take care of any maintenance, repair or replacement services, not your home insurance. However, some leasing companies may require you to obtain your own insurance coverage.
Protect Your Solar Panels With Solar Optimum
Going solar is a big step toward energy independence. Before switching to solar, discuss with your insurance company to ensure your home and solar panels are fully protected.
As an industry leader in renewable energy, Solar Optimum can help you navigate solar panels and home insurance. We serve Clark County and the Greater Las Vegas area. Contact us to learn more about the benefits of going solar in Nevada, or download Solar Optimum’s Ultimate Guide to Going Solar.
