Solar energy isn’t a new concept, but it is a fairly new money-saving tactic that is now accessible to most homeowners.
Adding solar panels can add value to your home and keep your energy bill low. Plus, there are a lot of great tax write-offs that come along with running an energy efficient home and lifestyle.
Thinking about checking out solar panels for your home or business in Keokuk? Try giving Iowa Wind and Solar a call, they are one of the few solar power companies in the area and can answer any questions you may have.
Protect your solar panel investment
As with most home additions, solar panels require a decent investment in order to have them installed and need to be protected with the right insurance just like you protect the rest of your investments and belongings.
Solar panels are exposed to the elements — wind, hail, lightning, falling trees — which is why it’s important to make sure your home insurance plan includes coverage of solar panels.
Here are 4 things to consider when installing solar panels and finding the right insurance:
Depending on your insurer, there may be restrictions on solar panel coverage. It’s important to look into the coverage differences for a ground-mounted solar system versus roof panels. Check before installing your panels or ground system to insure your type is protected.
Solar panels aren’t a cheap addition, but luckily most can make up for the investment through the value solar panels add to a home. Depending on factors such as the state you live in, house and system, you can experience a jump of up to $25,000 in home value just by adding this great feature.
You will need to raise your dwelling protection limits after installing solar panels. Your current insurance plan was created based on your home prior to installing solar panels. If you don’t raise your limits and there is major damage to your home due to a disaster, the cost to cover the gap between what your home was worth and what it is currently valued at will come out of your pocket.
Solar panels can present an extra obstacle to firefighters when tackling house fires since the panels may still be generating electricity while a home is one fire. This risk of potential electrocution can sometimes slow or stop efforts to save a building, which is another reason to reevaluate your home insurance plan.
When to talk to an insurance agent about solar panels
There is no better way to learn about adding solar panels to your home insurance coverage unless you talk to your insurance agent. If you already have solar panels installed, it helps to have the following details at hand when asking about a new homeowners policy:
The number of panels
By working with your insurance agent, you can come up with an updated plan that meets the new needs of your environmentally friendly home.
Do you have a home in Keokuk with solar panels? Did you have any insurance issues when installing solar panels? Tell us your experience in the comments below.
About Ryan Ruffcorn
Ryan grew up in Keokuk, graduated from Keokuk Senior High, and started his agency in Keokuk from scratch in 2003 after having worked for one of the largest international accounting firms, KPMG, LLP.
Ryan is hardworking; his loyal and trustworthy character is exemplified by the way he does business. He thoroughly enjoys helping clients through the insurance buying process to secure coverage for their most valuable assets.