By Paul Waldmiller
Did you know some insurance companies are dropping homeowners with solar panels?
Homeowners are sounding the alarm as they share that they have suffered negative consequences from home insurers as they are being told that their solar panels may cause damage during a storm, but according to some state officials, this is not true.
Currently, only approximately half of all home insurance companies in Florida will actually insure solar panels.
Also currently, home insurance companies are disallowing damage coverage if a homeowner chooses to sell their extra power their solar panels make back to the electric company. The system is described as, “net metering” and is a common practice.
Many home insurance agents are recommending that if you own a home with solar panels and find yourself being dropped by an insurance company, that you contact your agent to see what options for coverage are available. Additionally, agents also report that many larger insurance companies will cover solar panels if mounted on roofs, but a separate policy may be needed if solar panels are placed either on carports, or on the ground.