Homeowners Insurance

[captaindomon]

State Farm agent told me that the system is part of the dwelling and therefore covered under my policy. No increase in cost unless I want to increase the total value of my policy. Considering it only accounts for 3% of the value of my home, it isn't worth the paperwork.

Same answer I got from my excellent Allstate agent.

[E-Man]

State Farm agent told me that the system is part of the dwelling and therefore covered under my policy. No increase in cost unless I want to increase the total value of my policy. Considering it only accounts for 3% of the value of my home, it isn't worth the paperwork.

Yup! My wife works for State Farm and this is the case with us as well.

[FFE]

State Farm agent told me that the system is part of the dwelling and therefore covered under my policy. No increase in cost unless I want to increase the total value of my policy. Considering it only accounts for 3% of the value of my home, it isn't worth the paperwork.

[eah123]

Amica

I just called my insurance company, Amica. They said they check how much additional coverage I will need based the area that the panels cover my roof. For 27 panels, I told them 481 sq ft. They said increase in premium would be $200/year. Anyone want to share how much your panels have increased your premium, and what insurance company?

[thejq]

I added solar to my policy and was told it's now part of the dwelling and no change to the premium. The key is to make sure you have enough coverage to begin with. Say if your policy is $800K, the insurance co. will pay up to $800K in case of total loss, regardless of solar or not. So if you think the cost of your solar will significantly increase the replacement value, you should up the coverage just in case.

[azdave]

I've added solar to my insurance. Extra $69 per year. Definitely worth it should something go wrong like fire or hailstorm. If you'd insure a new car, why wouldn't you do the same for this expensive purchase?

I would never buy a new car.

Not all insurance situations are the same and I know not everyone has the ability to absorb the risk.

I called my agent with the info for my new system and she said it was already covered within the limits of my policy and there was no need to do anything further or pay higher premiums. I'm at $619 a year for my homeowners insurance and have replacement value type coverage.

[diogenes]

I have been looking at insurance for a while, there are two pieces, damage and liability, my Tennessee Farm Bureau agent wants to declare my system commercial and charge me over $650/yr more. We don't have net metering in TN so his argument is I am selling electricity back to my POCO and therefore am a business,

Needless to say I am looking at other insurers.

[8.4]

I've added solar to my insurance. Extra $69 per year. Definitely worth it should something go wrong like fire or hailstorm. If you'd insure a new car, why wouldn't you do the same for this expensive purchase?

[jakepv]

As I'm nearing my go-live, was wondering:
- if anyone added their system to their policy?
- what was the incremental increase to your premium?

Also, looking for additional pros and cons of insurance coverage for solar.

Thanks!