If you’ve installed a solar array on your property, it’s very important to let your home insurance carrier know about it.
Why is this so important to tell them?
Because the new investment you’ve made may not be protected. Just like any other improvement to your home, a solar array is going to affect its value. The more your property is worth, the more coverage your insurance company needs to offer. Getting these ducks in a row ensures you’ll get the right amount of insurance in case there’s property damage.
Now, there is a potential cost to this. But there’s also the possibility of an offsetting discount as well.
Depending on your policy, you might have to pay a little more – but the peace of mind that comes with knowing your investment is protected from fire or other damages is invaluable.
The second reason you should tell your carrier you’ve installed a solar array is that insurance companies sometimes offer discounts for green energy upgrades.
In some cases, that discount can even offset the added cost of extra coverage you need. Ker-ching!