Why You Should Notify Your Insurance Provider After Installation
Investing in solar energy is an excellent way to reduce your carbon footprint and save on electricity bills, but many homeowners overlook an important step after installation: notifying their home insurance provider. Whether you’ve installed solar panels, a battery storage system, or both, it’s crucial to update your home insurance to make sure your new investment is protected.
Here’s why and how you should inform your insurer after going solar.
1. Your Solar System Is an Asset
Your solar system, just like any major home improvement, adds significant value to your property. Solar panels and battery systems are not cheap, so they should be included in your home insurance policy to ensure coverage. If you don’t notify your insurer, these valuable additions may not be covered.
2. Warranties Are Not Enough
Many customers think that manufacturer warranties and our workmanship guarantee are all you need. However, unless the damage or fault is explicitly related to the product’s performance or build quality, or the quality of the installation itself, all other causes will not be covered. Damage from events such as extreme weather, falling branches, fire, theft, or even vandalism can only be covered by your home insurance.
3. It Could Affect Your Premium
While installing solar might increase your home’s value, it could also impact your insurance premium. Some insurers may raise premiums slightly due to the higher replacement costs of solar systems, but the increase is usually minimal, especially compared to the potential repair costs if something goes wrong. On the flip side, some providers offer incentives or discounts for solar installations, as they may view it as an investment in a more energy-efficient and sustainable home.
4. Understanding Your Coverage
When you notify your insurer, ask for a clear explanation of how the solar system is covered. Some policies may include it under "dwelling" coverage, while others may categorise it differently. If you have a battery storage system, ensure that it is also part of the policy. Clarifying this information will give you peace of mind, knowing that your renewable energy assets are fully protected.
4. What to Provide Your Insurance Company
To help your insurer update your policy correctly, be prepared to provide the following:
The total cost of your solar system and/or battery storage
The installation date
Any warranties or maintenance agreements
Information about the type and number of solar panels or battery capacity
This information helps the insurer understand the value of the new addition and ensures it’s included in your policy correctly.
Conclusion
Notifying your home insurance company about your new solar or battery installation is an easy but essential step to protect your investment. It ensures you’re fully covered in the event of damage and gives you peace of mind, knowing that you’ve done everything possible to safeguard your home and your renewable energy system.
If you have recently installed a solar system or battery, contact your home insurance provider asap to make sure you’re properly covered!
Contact us if there is any information your insurer needs, or if you would like further explanation.