In this article we will see how installing solar panels affects your home insurance, is it a good investment, and other answers based on personal experience.
As can be seen at first glance, photovoltaic installations have sprung up like mushrooms on the roofs of Spain thanks to subsidies, the drop in the price of materials and the prevailing sunshine in most of the country, but the…
Is it worth installing solar panels on my house?
It depends, in my personal experience, yes. The number of hours in Mallorca means that the installation produces a large part of the consumption, plus public subsidies and tax discounts (IBI) mean that the cost of an installation can be amortised between 3 and 5 years, depending on the case, and always without batteries.
How much does it cost to insure my solar panels?
In futurseguros we include them in your home insurance, normally the cost of insuring solar panels within the insurance is between 30 and 70 euros per year although it must be taken into account that it depends on the cost of the installation.
Do I have to include solar panels in my home insurance?
In my opinion the right thing to do is to include them, they are very large elements that are out in the open and can cause a lot of damage if they fall or fly off in a storm, plus we could suffer a theft or similar, it makes a lot of sense to insure them.
What are the insurance covers for photovoltaic installations?
The most common coverages are theft and civil liability for the damage that may be caused, they are usually part of the building of the home (in some companies they can be considered content), and are protected with the rest of the coverages that we have in these.
In many companies, two different things are insured: the external elements are insured, i.e. the photovoltaic panels, structure, etc., and the internal elements, if any, such as the inverter or batteries, which are inside the home.
In summary, installing solar panels at home, at least without a battery, which is my personal experience, has several very clear advantages, from the savings on the electricity bill and the reduction of the carbon footprint that we produce to the increase in value of our home, plus nowadays with the subsidies that exist it is a more affordable investment.