Do Solar Panels Increase Home Insurance?
When installing solar panels, you should think about how they will affect your home insurance situation. Because solar energy has a great impact on home living, it only makes sense that home insurance companies will have certain policies regarding that type of home addition. But the question that most people ask is whether or not solar panels increase the cost of home insurance. Your friends at Solar Bear Dallas are here to answer that question!
How Solar Panels Qualify for Home Insurance
First off, you should find out whether your home insurance company has a policy on solar panels or not. Most of them do under certain conditions, one of the major factors being the method of installation. For your home insurance to cover your new solar panels, you may have to install them directly onto your home, most likely onto the roof, rather than on the ground. Because this ground installation of solar panels is less effective and does not directly affect the house itself, ground installation is typically not covered under home insurance. Since every company is different, the best thing you can do is call your insurance agency and ask. Once you find out whether or not your solar panels will qualify for home insurance, it’s all a matter of cost.
How Solar Panels Affect the Cost of Home Insurance
Solar panels add value to your home no matter what. Therefore, you should always notify your home insurance provider when you get them installed, especially if you want them covered in your policy. However, this may mean a slight increase in your rate. Depending on the company, you may have to change your current policy or include an add-on to your existing one. Either way, you will likely see a slight increase, but that doesn’t mean it’s not worth the extra couple hundred a year especially when you consider the amount of your energy savings.
Are Solar Panels Worth It?
Even though you’ll likely experience a small increase in your yearly home insurance costs, the large sums of cash you will save on energy bills easily counteract that. Many homeowners who have solar panels properly installed have seen savings of $1,500 a year on average, which is more than enough to make up for any updated charges to your home insurance. Aside from that, solar panels come with other added benefits, such as a well-insulated home and a greener environment. And if you go to the right place, you can find very affordable solar panels in the Texas area.
Get Affordable Solar Panel Installation at Solar Bear Dallas!
If you live in Texas, you can find affordable pricing for solar panels and solar panel installation at Solar Bear Dallas! We offer quality products with the most flexible financing options so we can supply a wider array of residents in the Dallas area. We want everyone to have access to solar energy, and we do this by personally evaluating your home to give you the most accurate estimate before laying out all the best financing options that fit your exact needs. Call (727) 471-7442 today to get started!