Does State Farm Cover Solar Panels

Residential solar energy installations are typically covered as part of a standard homeowners policy according the u s.

Does state farm cover solar panels.

Homeowners insurance typically offers protection against certain risks often called perils such as theft or damage from wind or fire. Being a piece of electrical equipment solar panels are subject to manufacturer s warranty and certainly not by your home insurance. Department of energy s national renewable energy laboratory nrel. According to my electric bills during the last year i ve generated about 180 of my actual electric usage with the excess bought back by my commercial power provider via net metering.

For example for a 1 mw solar power plant installation the solar farm land requirements would be around 4 acres when using a crystalline technology. In new jersey homes with solar panels can sell for 9 9 more than homes without solar energy systems. Here solar panels are considered as fixed attachments alongside things like decks porches and attached garages. One insurance company that offers solar panels insurance cover is state farm insurance.

When we use thin film technology a 1mw plant will require an average of 4 5 to 5 acres of land. In other terms we can say that for each 1 kw of solar panels you need 100 sqft of an area on. That is a profit of 32 281 for the median valued home in that state. Therefore these are covered under the home insurance policy and you don t need any additional premium or a separate policy.

A solar farm sometimes referred to as a photovoltaic power station is typically a large decentralized solar array supplying electricity to the power grid. Check with your agent to learn whether your policy provides. I built a new home last year that includes rooftop solar power which i intentionally oversized to accommodate recharging a possible electric vehicle in the future. In most cases there is no need to get additional insurance to cover your solar panel system.

On the same manner that other companies don t cover floods and earthquakes coverage of wind damage to your solar panels is a good question for your insurer. However since solar is worth thousands or even tens of thousands of dollars and can add around 10 000 to 30 000 of value to your home we might recommend raising your coverage limit to cover the cost of your home with the solar panel system.