Insuring your solar panels?

More people are installing solar panels to their homes, spurred on by environmental concerns or the prospect of reduced reliance on the National Grid. Putting thousands of pounds on your roof can boost the value of your property, but do solar panels affect your home insurance?

Come rain or…

Having emerged in the 1950s, solar technology has come a long way; more than a tenth of the UK electricity supply now comes from solar power in the summer months1. Moreover, contrary to popular opinion, solar panels are not only effective in fair weather: they typically generate between 10% and 25% of their standard power output on non-sunny days.

Is solar worth it?

The initial outlay for installing solar panels is often significant, though many studies point to the longer-term benefits of the investment. With energy bills sky high and forecast to rise further, the average household with solar panels is estimated to save between £210 and £514 per year2. Additionally, panels can earn you cash for electricity generated that you don’t use.

Home insurance impacts

Most home insurance policies now include solar panels as standard. Insurers consider solar panels to be part of your house, no different from the roof or walls, which means they are usually fully covered by buildings insurance. Since solar panels are usually included as standard, it shouldn’t cost anything extra to get them insured.

Even so, it’s always best to check with your insurer. Indeed, keeping your insurer up to date on any significant changes to your property is good practice anyway as it helps them know exactly what’s included in the structure of your home.

1Government Energy Trends Report, September 2022

2Energy Saving Trust, 2022

As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.