If you are going to install solar panels on your roof, you are probably wondering whether you should insure the installation against theft, vandalism or weather-related damage.
We are talking about an important long-term investment that you may want to protect against damage or other unforeseen events.
So, is it necessary to take out insurance for solar panels, and does home insurance protect the installation?
Today we tell you whether it is necessary to have insurance for solar panels and we answer the most frequently asked questions on this subject:
-
What is included in the insurance.
-
Do you need to insure the system if you rent the panels?
-
Does home insurance cover the integrity of the solar panels?
-
Is it advisable to take out comprehensive home insurance?
Do I need to take out insurance for solar panels?
When you buy a mobile phone, there are certain guarantees that the company covers.
But what do they usually offer you at the time of purchase?
Aha!
Insurance, right?
The reason is that it does not cover any damage.
And the same goes for solar panels. The guarantees do not cover all damages. That is why it is useful to include them in your home insurance.
Bear in mind that they only cover product and performance defects, but do not go beyond that.
Take a look.
If you do not maintain the solar panels correctly or if there is damage to the materials caused by meteorological phenomena, among others, they will not be covered. And the cost of repairing them rises.
Bearing in mind that it is an important investment, it is advisable to protect your photovoltaic installation against damage that is not covered by the solar panel guarantees. You gain peace of mind and save on repair costs.
What type of solar panel insurance guarantees greater protection for your installation?
Home insurance for solar panels is the most recommendable option to have your installation protected.
But here we must emphasise that not all policies cover the costs in the same way in the event of damage.
That is why it is necessary to know exactly what the insurance policies cover.
Because not all companies value solar panels in the same way. The difference lies in:
-
If they are part of the construction of the house (building).
-
If they are considered as a contained element for the house.
What does it mean that solar modules are building or content?
Well.
When the panels are a building, they are taken as part of the construction, i.e. just like water, gas or electricity. In this case, the home insurance covers damage to these components.
However, if they are understood as part of the home, i.e., part of the furniture, it is most likely that the insurance policy will ask you to contract an extra service that extends the coverage of the policy or you will have to take out an independent insurance policy.
For this reason, it is best to first ask your home insurance (if you have one) and clarify these terms with regard to self-consumption installations.
When you are going to make an important change in your home, such as the installation of solar panels, you should inform your insurer to verify that you have the necessary coverage and avoid future incidents.
What does the insurance for the photovoltaic installation include?
Once the company has clarified how it defines solar panels in the home, you need to know what exactly it covers.
Each insurer offers different packages depending on the needs of each home.
Depending on the contract chosen, the insurances protect the installation in the following cases:
-
Material damage that can be caused by fire, hail, wind, etc.
-
Claims for damages due to problems related to the installation (civil works).
- Loss of profits and machinery breakdown (companies).
- Damage to third parties (civil liability).
-
Theft and vandalism.
Be sure to analyse the conditions of each contract precisely. The most common are civil liability, property damage and civil works insurance.
Each company has policies with specific coverage. Look at what each one contains and read the small print.
For example, there are companies whose Civil Liability insurance does not include damage caused to the electricity grid and other companies do not insure glass breakage if the photovoltaic modules have not been maintained in the conditions indicated by the manufacturer.
In short, ask the company if you have any doubts before taking out insurance.
Do I need insurance if I rent solar panels?
When renting solar panels, what is known at SolarMente as solar subscription, we take care of the repairs and, therefore, you do not need to take out insurance for solar panels.
The solar company is the owner and is responsible for any damage or problems that arise. In this case, they take out insurance to repair or replace them if necessary.
Let’s look at a similar case.
Imagine you rent a flat, you haven’t bought any appliances, have you?
In fact, when you sign the contract, the terms and conditions state that the landlord will be responsible for replacing or replacing any appliances that have broken due to manufacturing defects or failure due to age.
The same applies to the rental of solar panels. The installation company is the lessor and will be responsible for any incidents.
You only have to make sure that the system works properly. Nothing more.
In any case, if you opt for this option, ask the installation company if they have insurance to protect the system and what exactly it covers.
Advice before taking out insurance for solar panels
If you decide to add a photovoltaic installation on your roof, remember to include it in your home insurance. Contact your insurance company and ask about its coverage or if you have to pay a higher price. Any detail that will ensure maximum protection.
And if you already have solar panels on your home, don’t wait to inform your insurance company. The longer you delay, the worse it will be. If a claim occurs, it is possible that you will pay a high amount that was not in your plans.
In addition, if the modules are considered as a building, i.e. part of the construction and are relocated to another location, some companies understand this movement as a fixed loss and, therefore, it would not be covered.
At the end of the day, it is a matter of checking the conditions of each policy in detail.
Is it worth taking out insurance for your solar panels?
A self-consumption installation is an investment to be protected. Don’t we do the same with electrical appliances or household components?
In the same way, they are exposed to theft or meteorological phenomena that we cannot control. That is why taking out insurance for your solar panels guarantees you security and savings on repair costs.
But be careful, check all the conditions, what is covered and what is not. Each company is different and establishes specific requirements. So, if you already have home insurance, it is best to ask around and find out for sure.
If you are going to rent solar panels, you don’t have to worry about home insurance. That’s our responsibility. Just check that the system is working properly.
And for this, it is best to rely on solar panel manufacturers that ensure they meet your needs and have extensive warranties.
It is also important to pay attention to the materials. They must ensure that they function correctly throughout their lifetime, so that you can save on your electricity bill every month.
Our team will analyse your needs and the location of your home. All personalised.
Frequently asked questions
Does my home insurance cover the integrity of my solar panels?
It depends. Home insurance policies for photovoltaic installations establish a series of criteria that differentiate between building and contents, in other words, whether they belong to the construction of the home or are furniture. In the first case, they would be covered in their entirety. However, ask the question first.
Is a comprehensive home insurance policy better for the photovoltaic installation?
It depends on the protection you are looking for. You choose the degree. Obviously, a comprehensive insurance policy includes full coverage and, in the event of any incident, you will be covered.
What material damage is covered by solar panel insurance?
Solar panel insurance covers damage related to theft, vandalism or extreme weather conditions such as hail, strong winds or rain.
Do I need solar panel insurance even if they have a guarantee?
You need photovoltaic panel insurance if you want to cover the installation in addition, because the guarantees do not guarantee their repair under certain circumstances. If there is theft or damage due to extreme weather conditions, your panels will be left unprotected.
