Insuring Solar Solutions

Interest in using solar panels to generate electricity in the home and office is growing. This is due to the increase in domestic energy pricing and concern over the sustainability of fossil fuels and their impact on the environment.

Recent Government initiatives have encouraged homeowners and businesses to make an investment in solar and in some circumstances this creates additional income as surplus electricity is sold back to the grid. While the use of solar energy generators is relatively new, some of the risks are known:

• Installation - Make sure you select a professional installer that comes with references and they are aware of local rules and weather conditions. Should an accident happen, their public liability insurance should pay for any damage caused.
  
• Maintenance and Damage - Who would pay for the repair or replacement of your panels if they were damaged in a storm? New installations may come with a warranty or maintenance programme, but be sure to check your home insurance includes damage to or theft of the panels and also the wiring, meter, inverter and any other associated equipment.

The insurance market is continuing to introduce risk solutions to help mitigate newer risks associated with the panels. For more information on our insurance services and protecting your solar panels against the associated risks, please contact us.