Solar panel insurance: Find out how to get easy cover with Finder

Solar panel insurance

This is how you can cover your solar panels with home insurance.

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

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.

What is solar panel insurance?

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.

Protect your solar panels with home insurance

Compare benefits and get a quote (or multiple!) from a home insurer that can cover your solar panels.

Data updated regularly
Name Product Can solar panels be covered? Online Discount Cheapest way to pay Fire, Storm & Theft Damage Accidental Damage Accidental Glass Breakage
Budget Direct Building Insurance
Annually
Optional
Domain Home Buildings Insurance
Monthly or Annually
Qantas Home Building Insurance
Annually
Optional
Youi Building Insurance
Optional
Annually
Optional
Virgin Home Only
Annually
Optional
St. George Building Insurance
Monthly or Annually
Westpac Building Insurance
Monthly or Annually
Budget Direct Home & Contents Insurance
Annually
Optional
Domain Home Buildings & Contents Insurance
Monthly or Annually
St. George Home and Contents
Monthly or Annually
Qantas Home and Contents Insurance
Annually
Optional
Westpac Home and Contents Insurance
Monthly or Annually
Youi Building and Contents Insurance
Optional
Annually
Optional
Virgin Home and Contents Insurance
Annually
Optional
Budget Direct Landlord Insurance
Annually
Optional
Domain Landlords Insurance
Annually
St George Landlord Insurance
Annually
Qantas Landlord Insurance
Annually
Optional
Westpac Landlord Insurance
Annually
Youi Landlord Insurance
Optional
Annually
Optional
Virgin Home and Landlord Insurance
Annually
Optional
loading

Compare up to 4 providers

How do I know which brands cover 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.

BrandPDS wording
Budget Direct LogoLoss 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:...
• 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

Youi LogoOptional 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
Virgin money logoYour 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
Woolworths car insurance logoCover 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
Westpac home insuranceResidential 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
St. george logoResidential 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
ANZ logoGeneral 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.

What costs can I expect to pay?

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:

  • If you need to increase your sum insured amount, you can expect to pay a higher premium for your policy.
  • A few brands actually offer extra cover for fittings and fixtures. If you choose to take this optional add on, you can expect to pay a bit more as well.

When am I covered?

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:

  • Impact at home (e.g. fallen tree)
  • Malicious damage, vandalism, riot or civil commotion
  • Breakage of glass, ceramic and sanitary fixtures
  • Earthquake or tsunami
  • Explosion

Pros and cons

Here are the advantages and disadvantages of getting solar panels included in your home insurance policy.

Pros

  • You're protecting your investment
  • You're protecting a vulnerable and expensive part of your home from fires, storms and other types of damage
  • Solar panels can be expensive to fix or replace without insurance

Cons

  • Like all types of insurance, there's always a chance you won't need it
  • It's an added expense

What's not covered

A home insurance is unlikely to cover you for the following issues:

  • Performance issues. If your solar panels aren't working properly, and the problem hasn't been caused by an insured event like a storm, fire or other type of damage, your insurance probably won't cover you. This is a performance warranty issue and you should take it up with your solar panel provider.
  • Product issues. Similarly, if there are any physical or electrical issues with your solar panels that have not been caused by an insured event, it's not your insurance that will cover you – it's the product warranty. Home and contents insurance generally won't cover you for this.
  • If you take out a policy after the damage. Just like any other insurance, you need to have held a valid policy when the event that caused the damaged occurred, otherwise you won't be covered.
  • General wear and tear. Home insurance won't cover damage caused by general wear and tear of your solar panels. You're better off maintaining the panels to avoid gradual deterioration.

Frequently asked questions

Bottom line

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.

Picture: GettyImages

More guides on Finder

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site