You’ve probably seen more and more solar panels popping up on rooftops across Florida’s Gulf Coast. While harnessing the Florida sun could save you thousands, it could also come with a costly surprise.
Some families are learning the hard way that installing solar panels may put them at odds with their home insurance providers.
Solar panels here in Florida can help your wallet — and the planet. But they could also mean trouble with your insurance company. That’s why experts say it’s crucial to ask the right questions before making the switch.
Florida’s sunshine fuels a brighter, cleaner future, bringing with it clean energy and lower electric bills.
"Love our solar! Love it!" said Lynette Paracino of Fort Myers.
Paracino has owned two homes — both solar-powered.
"We have two electric vehicles. We have a pool, a spa, and our monthly costs come out to just $29.95 for the FPL service charge," she said.
She knew to do her homework before getting solar panels installed.
"My ultimate goal was not to have a bill," she said.
Paracino chose Green Coast Roofing and Solar for her installation. Owner Jeff Moan said solar isn't a fit for everyone.
"We’re not just a solar company. We’re a roofing contractor as well," Moan said.
That matters because the age and condition of the roof are critical.
"Is the roof in good shape?" Moan asked.
An older roof could mean trouble down the line.
"There will be a day where they want a new roof, or are required to get one for insurance purposes. But that solar system would actually have to come off," he said.
Homeowners also need to consider how insurance companies will respond to a solar installation.
"Any homeowner that is going to explore solar must first understand what the roof insurance is going to do," Moan said.
Insurance agent Doug Nellans with The Insurancenter of Fort Myers said many companies are hesitant to insure homes with solar panels.
"Insurance companies are absolutely concerned about the risk factors with installing solar panels on homes," Nellans said.
Could going solar cost you your coverage?
"Absolutely," Nellans said. "I would highly encourage people to check with their insurance provider first to see what sort of implications might result from the installation."
And finding another company to insure a solar-equipped home may be tough.
"When a customer approaches us and they indicate they have solar panels, their options dwindle very quickly," he said.
Many insurers consider panels an added liability, a fire risk, and costly to repair.
Nellans was asked how much more the rates could go up as a result of getting them installed.
"I would say easily a 15 to 20 percent increase if you want to have those solar panels covered under the insurance policy," Nellans said.
Paracino avoided those problems. She was one of the lucky ones.
"We called our insurance as well, and they said no problems, no issues. They didn’t drop us or increase our fees," she said.
But if you’re not careful, your coverage could disappear faster than the sunshine in a Florida storm.
Is solar still worth it? Experts say maybe, but they offer this advice:
* Do the research on the company you’re going to hire.
* Call your insurance agent.
* And read the fine print.
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