Insurance

[radx4]

Hello,

I'm getting a new solar array installed on my roof, and I'm experiencing a bit of a problem with insurance. For most people, their homeowner's insurance will cover the panels. However, I live in a townhouse that is technically a condominium. That means I have a condo insurance policy that protects personal property (i.e. anything not permanently affixed to the house), and the building is covered by a master insurance policy. The master insurance policy does cover owner improvements to the house, but it specifically states that improvements inside the house are covered. Since the solar array is outside the house, it may not be covered by this policy.

I've spoken to a few insurance agents, and they were not able to offer any separate policies for the array. I was also advised that it was a bad idea to switch to a standard homeowners policy as it may nullify the master policy. I looked for companies that offer separate solar-specific insurance, but I could only find insurance for businesses. As this is expensive equipment, I want it protected in case something happens to it.

Has anybody else encountered this issue? Is anyone aware of a company that might offer policies specifically for solar arrays?

Thanks for the help!

[Ian S]

Hello,

I'm getting a new solar array installed on my roof, and I'm experiencing a bit of a problem with insurance. For most people, their homeowner's insurance will cover the panels. However, I live in a townhouse that is technically a condominium. That means I have a condo insurance policy that protects personal property (i.e. anything not permanently affixed to the house), and the building is covered by a master insurance policy. The master insurance policy does cover owner improvements to the house, but it specifically states that improvements inside the house are covered. Since the solar array is outside the house, it may not be covered by this policy.

I've spoken to a few insurance agents, and they were not able to offer any separate policies for the array. I was also advised that it was a bad idea to switch to a standard homeowners policy as it may nullify the master policy. I looked for companies that offer separate solar-specific insurance, but I could only find insurance for businesses. As this is expensive equipment, I want it protected in case something happens to it.

Has anybody else encountered this issue? Is anyone aware of a company that might offer policies specifically for solar arrays?

Thanks for the help!

Have you considered a prepaid lease? The lessor typically maintains insurance on the system in that case.

[russ]

Check with the state insurance commissioner (whatever the office is called). In states where I have lived agents all had the identical product to sell - but most had little idea of what they were selling.

[radx4]

Thanks for the responses.

It turns out that the person I originally spoke to at USAA was incorrect, and my Condominium Unit Owners policy will cover the solar array under "dwelling protection". After a long runaround I finally spoke to someone at USAA who was able to verify and put the coverage in writing. The original representative I spoke with was confused because the policy covers "fixtures and improvements contained within your unit", but failed to notice it also covers "items of real property which pertain exclusively to your unit".

[russ]

Thanks for the responses.

It turns out that the person I originally spoke to at USAA was incorrect, and my Condominium Unit Owners policy will cover the solar array under "dwelling protection". After a long runaround I finally spoke to someone at USAA who was able to verify and put the coverage in writing. The original representative I spoke with was confused because the policy covers "fixtures and improvements contained within your unit", but failed to notice it also covers "items of real property which pertain exclusively to your unit".

Well done!

[wilafur]

Glad you got it all figured out. Btw, are you insuring the total cost of the PV system?

[buellwinkle]

USAA is the absolute worst insurance company I've ever dealt with. Each time it's come to pre-litigation with attorneys to get them to pay a simple claim. They wanted to replace the bumper on my American made truck with a China part. I said it's part of the vehicles safety system, what if it's not made as well as it leads to the death of a family member. I said OK if they sign a letter saying they are responsible for any injuries arising from not using OEM safety parts. They backed down after my attorney sent them a letter. The difference in price, $50.