Ahh solar panels! There’s much to love about them but various confusing insurance conversations surrounding them. Since there are a lot of different topics related to why and how solar panels are an insurance and power company disruptor, yet a powerful new energy solution, many early adopters want to have cleaner energy with a lower electric bill. Harris Insurance’s very own Natalie Schmidt had a one-on-one conversation with Mike Antheil – Founder of Sailfish Solar about the current relationship with solar panels and insurance. Sailfish solar provides solar energy solutions to homes all throughout the state of Florida.
Here is the video which describes everything related to how insurance companies operate when solar panels are in the picture.
SEE BELOW:
A quick recap:
Florida’s insurance market is slow and is taking its time to accept the benefits of solar energy. There are many reasons, and each insurer has different reasons. The good news is that we are adopting solar and there are some advanced markets that are adopting it.
Solar panels can be installed on your home. Solar panels installed on the home may have the same perils which your home is exposed to. Solar Panel investment is usually added to your home’s overall value and could increase your rates. But there are always companies competing with lower rates to help you.
Given the investment required to take advantage of this benefit available to homeowners, it makes sense to have proper insurance in the event of damage. Remember, Florida is special where we have an entire six month season dedicated to hurricanes and their destruction.
In some instances, homeowners may have solar panels but their insurance insurers operating in Florida may not choose to extend coverage. As of now, many insurance issuers do this making homeowners unknowingly exposed to significant losses that they may not be aware of.
Home insurance policies may be vague when solar panels are included. While it is a legal contract that accurately describes the “coverage”, there is no clear answer on what isn’t completely covered, restricted, or excluded. For this reason, Harris Insurance needs to create a complete home protection package for all solar risks.
We have seen one after other examples of residents who thought they were protected only to find out that their insurance issuer was non responsive.
Harris insurance is dedicated to helping out anyone in need of insurance. We have teamed up with Sailfish Solar to provide a solution for many homeowners who want to have independent energy and reap the benefits of the sun’s light to power their home.
We have a dedicated team that has put in the time and research to understand everything that is required to properly protect you and your home throughout the process of adding solar panels to your property.
We require a full evaluation of your current homeowners insurance policy so we can determine the best course of action to add the required increased liability at an affordable price.
If you would like to know more about solar panels and insurance check out www.sailfishsolar.com and request your quote HERE.
LEGAL DISCLAIMER
Views expressed here do not constitute legal advice. The information contained herein is for general guidance of matter only and not for the purpose of providing legal advice. Discussion of insurance policy language is descriptive only. Every policy has different policy language. Coverage afforded under any insurance policy issued is subject to individual policy terms and conditions. Please refer to your policy for the actual language.
