As people in New Hampshire increasingly turn to greener energy sources, solar panels have become popular for those looking to reduce their carbon emissions and save on energy bills. However, many homeowners may wonder how installing solar panels affects their insurance. In this blog post, we’ll explore the implications of solar panels on home insurance policies and what you need to know as a homeowner in NH.
Understanding Home Insurance and Solar Panels
Home insurance covers your property and belongings in the event of damage or loss. When you install solar panels, some factors can affect your insurance coverage:
- Increased Home Value: Installing solar panels can enhance the value of your home. Insurers often consider the increased value when calculating premiums. Updating your insurance policy to reflect this change is essential to avoid being underinsured.
- Risk of Damage: Solar panels are generally durable but still susceptible to damage from severe weather events, such as hail or heavy winds. Homeowners should ensure their policy covers potential damage to the solar system itself.
- Liability Coverage: If someone gets harmed on your property while inspecting or maintaining your solar panels, your liability coverage may come into play. Discussing this with your insurer to ensure you have adequate coverage is wise.
Specific Considerations for NH Homeowners
For homeowners in New Hampshire, there are some aspects to consider about solar panels and home insurance:
- State Incentives: NH offers various incentives for solar energy installations, which can increase the attractiveness of solar panels. Homeowners should inform their insurers about these enhancements to ensure proper coverage.
- Local Regulations: NH has specific building codes and regulations concerning solar panel installations. Compliance with these regulations can impact your insurance policy, so keeping your insurer informed is essential.
- Choosing the Right Insurer: Not all insurance companies have the same approach to solar panels. It’s crucial to shop around and find an insurer that understands the nuances of solar energy and can provide appropriate coverage.
Proactive Steps for Homeowners
To ensure you’re adequately covered, consider the following proactive steps:
- Review Your Policy: Regularly review your home insurance policy to ensure it shows the current value of your home, including any upgrades like solar panels.
- Consult an Expert: Speak with your insurance agent about the implications of solar panels on your policy. They can give you advice based on your situation.
- Document Your Installation: Keep records of your solar panel installation, including receipts and warranties.
Summit Energy: Your Partner in Solar Solutions
If you want to install solar panels in New Hampshire, look no further than Summit Energy. With a commitment to provide top-notch solar solutions, Summit Energy can guide you through the installation process and help you understand how it affects your home insurance. Our experts are dedicated to ensuring you get the most out of your investment in renewable energy. Contact Summit Energy today to learn more about how solar panels can benefit you and how to navigate the insurance landscape as a homeowner in NH!