If you've installed solar panels, you've already done the tricky bit. Most home and contents insurance policies will cover solar panels – all you need to do is increase your coverage.
Most home insurance providers consider solar panels to be permanent fixtures of your building, which means that they'll be covered by a home and contents insurance policy or building insurance policy. So for example, if your solar panels are damaged by a storm or fire, your home insurance policy will help reimburse you for the repairs.
Compare benefits and get a quote (or multiple!) from a home insurer that can cover your solar panels.
Most home insurance brands will cover solar panels to some extent; you just need to make sure that you have enough to cover the value of the solar panels. As permanent fixtures, you can usually get cover for solar panels under a home and contents insurance policy or building/home insurance policy.
We've done some product disclosure statement (PDS) research to show you how some major Australian brands cover solar panels. There are even some insurers that will cover you for additional electricity costs if your solar panels are damaged or broken.
| Brand | PDS wording |
|---|---|
 | Loss or damage to your home at the insured address caused by an insured event as listed in section 4, as long as the damage occurs during the period of insurance. Your Home Insurance covers the following:... Breakage to the following items when you have Home Insurance, or when you are a tenant responsible for these items under your lease agreement: |
 | Optional cover Optional covers may not always be available to you. At renewal of your policy we will tell you if we can continue to offer you the requested optional covers. Fixtures and Fittings upgrade: • solar power systems |
 | Your Home Insurance covers the following: • energy storage systems and solar panels Breakage to the following items when you have Home Insurance, or when you are a tenant responsible for these items under your lease agreement: • fixed glass in any window, door, skylight, shower screen, balcony or pool fence, solar panel or any fixed glass panel |
 | Cover for strata title property owners When your contents are insured (other than as landlords contents), and you are the owner and occupier of a strata title property we will also cover the following items, usually covered under a building policy: • fixtures that are owned by you, and are not insurable by the body corporate. This benefit is included in your contents sum insured |
 | Residential building(s) on the site which includes structural improvements, fixtures and fittings including: Fixtures and fittings: solar panels. Accidental breakage of glass. Covered. Under Building cover: • glass in fixed storage tanks and solar panels |
 | Residential building(s) on the site which includes structural improvements, fixtures and fittings including: Fixtures and fittings: solar panels. Accidental breakage of glass. Covered. Under Building cover: • glass in fixed storage tanks and solar panels |
 | General contents include: Fixtures and fittings that you have installed for your own use if you are a tenant, or the owner of the strata title unit. Landlord's fixtures and fittings that you are liable for under the terms of a rental agreement. |
The cost of setting up your solar panels can range from $4,000 up to $20,000. Since solar panels are usually covered under the building policy, you want to make sure that the sum insured amount stated on your policy will be enough to cover damages to avoid underinsurance.
There's no set extra premium you'll pay to cover your solar panels in home insurance, but here are some expenses to consider:
Solar panel insurance comes under home insurance, which covers your house and other structures on your property including garages, garden sheds, fences, domestic fixtures like built-in wardrobes, air conditioner units and solar panels. It can cover you for the following events:
Here are the advantages and disadvantages of getting solar panels included in your home insurance policy.
A home insurance is unlikely to cover you for the following issues:
If you've recently had solar panels installed, you can get in touch with your insurer to increase your sum insured. For those who haven't gotten around to buying a policy yet, now is a good time to make the investment. Compare here.
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