An increasing number of people are installing solar panels in their homes as an alternative source of energy. The going-green phenomenon has motivated people into taking certain actions towards building a green future. The modern times have brought awareness within people. Solar panels are economically friendly and can cut your electricity bills by 50%!. Homeowners wanting to take the initiative of building a green lifestyle are installing solar panels to their homes. If you’re thinking about adding solar panels to your home, it is important to be aware of the effect they have on your homeowner’s insurance rates.

Here are some of the most important things you should know about Solar Panels:-

SOLAR PANELS AND HOMEOWNERS INSURANCE RATES

Most Florida home insurance companies have started covering solar panels on the home owner’s insurance policy. Some also offer a discount as the homeowner is being environment friendly. However, there are some companies which charge extra fees for the solar panels as it is an added value to the home. It is a good idea to ask your insurer before installing the solar panel on their policies regarding solar panels.

SOLAR PANELS AND COSTS

Make sure you search for insurance quotes as you will find different quotes from different companies. In the United States, homeowners are being rewarded with a tax break upon installing solar panels to encourage the activity. If your insurance premium is high, you’ll be able to pay it off as other costs. like taxes and electricity, are minimized.

SOLAR PANELS AND YOUR HOME LOCATION

Florida insurance rates are expensive because it is an area prone to storms and other natural disasters. Having a solar panel in Florida causes a hike in insurance rates due to the risk to solar panels and your house roof. People living in such turbulent areas are bound to make more claims; therefore, rates will be higher.