Solar Panels: How do they Affect Homeowners Insurance Quotes

July 22, 2009 - PRLog -- Chicago (InsuranceAgents.com) – Before you install solar panels on your home, you should know the possible affects they can have to your homeowners insurance premium. There are two sides to every story, and your insurance carrier will either agree or disagree on how solar panels can affect the value of your home.

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Many insurance companies believe environmentally-friendly homeowners are a low risk for filing a claim with their insurance. So when contemplating the installation of solar panels, insurance companies will not increase your premium, you may even receive a slightly lower rate. However, some insurance agents will argue that solar power systems add value to your home and will charge a higher rate. The installation process can also raise concerns when it comes to future damage to your home. If you live in an area that is prone to heavy storms, the chances of damage to your roof and panels can increase your chances of filing a claim with your insurance, thus possibly increasing your premium.

Visit InsuranceAgents.com for more information, and for homeowners insurance quotes from up to five local agents.

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