House Insurance and Solar Panels

thenudeone

Can anyone help update the following list and / or give suggestions for home insurers that offer cover for solar panels, and whether this is in the same way as, for example a TV aerial, i.e. the panels itself are covered and also damage to other property caused by the panels.

I originally started this in the Green & Ethical board but it probably fits better here, so I've asked for any posts to be made here instead of there. I will update this post with updated information as it becomes available.

AA - no problems
AXA - no mention in policy
Bank of Scotland - covered. see post 25
Co-op - covers accidental damage to panels but apparently not damage caused by panels
Direct Line - no mention
Direct Line SELECT - fully covered
esure - no problems
Lloyds TSB - no problems
LV= - covered
M&S - covered
More Than - considered as fixture & fitting (contents in the open if freestanding) - see post #5
Nationwide - recognised as part of the structure of the home
NFU - not covered; one MSE user was told that the entire policy will be void because obtaining FIT payments is classed as a business see post https://forums.moneysavingexpert.com/discussion/2922364 No other update
Prudential - no problems
Saga - covered. see post 26
http://www.naturesave.co.uk - Cover for domestic renewable energy systems included as standard
Northern Alliance http://www.northernalliance.co.uk/solar-panel-insurance-house/ specialist cover starting from £250pa (seems v. expensive IMO)
Thanks

huckster

The underwriter at NFU is making a silly argument. A FIT will effectively only discount the cost of a house occupiers electricity bill. It is not as if, anyone would have sufficient electricity generated all year round, to not have to pay for any electricity at all.

Hope that Which? will contact them and they will see sense. In the next 10 years or so, a huge number of homes will have solar panels fitted, so NFU will be limiting people who would use them.

Edit. I stand corrected if the MSE article details are correct. Apparently you can receive up to 3 times the amount of the tarrif paid for electricity back as a FIT. They state that solar panels could save about £70 a year on electricity and you can make over £1000 a year from FIT. http://www.moneysavingexpert.com/latesttip/ ( I find this surprising and wonder how this has been calculated. Will the panels not reduce in their effectiveness over the years, so will not generate as much electricity after say 5 years, as they did in the first year. If this is the case, has the £1000 been calculated taking into account a gradually diminishing return. If you have paid over £10k for the panels, you would want know about such an issue)

dacouch

Who owns the solar panels ?

zeupater

thenudeone wrote: »

Can anyone help update the following list and / or give suggestions for home insurers that offer cover for solar panels, and whether this is in the same way as, for example a TV aerial, i.e. the panels itself are covered and also damage to other property caused by the panels.

I originally started this in the Green & Ethical board but it probably fits better here, so I've asked for any posts to be made here instead of there. I will update this post with updated information as it becomes available.

AA - no problems
AXA - no mention in policy
Co-op - covers accidental damage to panels but apparently not damage caused by panels
Direct Line - no mention
Direct Line SELECT - fully covered
esure - no problems
Lloyds TSB - no problems
LV= - covered
M&S - covered
NFU - not covered; entire policy will be void because obtaining FIT payments is classed as a business see post https://forums.moneysavingexpert.com/discussion/2922364
Prudential - no problems

Thanks

Hi

Regarding the referenced thread ..... if you check the posts you'll probably decide that the position taken by the NFU resulted from a misunderstanding regarding the new technology and the FiT scheme. As posted previously on the referenced thread, I know non-business individuals with pv systems & NFU cover, after confirming that the system is installed according to MCS & FiT requirements the panels are simply added to the buildings policy as a named addition, the buildings value adjusted in line with the cost of the installation and then the premium adjusted.

HTH
Z

thenudeone

Response from MoreTh>n

Regarding your query on solar panels please find definition below from the Home Underwriting manual.

Solar panels are not specifically included in the buildings definition.

However, we would regard a solar panel owned by the insured and either attached to the home or fixed into the ground within the boundary of the home to be covered under buildings as a fixture and fitting.

The replacement value of the solar panel should be included in the total buildings sum insured.

If the solar panels are freestanding and not attached to the home, cover is provided under the Contents section - cover in the open.

thenudeone

dacouch wrote: »

Who owns the solar panels ?

In my case - me; but the insurance issue is also relevant for anyone accepting "free" panels installed by rent-a-roof companies.

Brummie71

thenudeone wrote: »

In my case - me; but the insurance issue is also relevant for anyone accepting "free" panels installed by rent-a-roof companies.

Not really. As the panels belong to someone else, then they are responsible for the insurance - you can't insure something unless you have an interest in it. I would always advise informing your insurers that you have 'free' panels installed and make sure that the owner has appropriate cover in the remote situation that the panels cause damage.

Trentenders

Brummie71 wrote: »

Not really. As the panels belong to someone else, then they are responsible for the insurance - you can't insure something unless you have an interest in it. I would always advise informing your insurers that you have 'free' panels installed and make sure that the owner has appropriate cover in the remote situation that the panels cause damage.

You don't need to own something to have an insurable interest in it.

antrobus

Trentenders wrote: »

You don't need to own something to have an insurable interest in it.

After all people often hire cars, but still take out insurance even though they don't own them.

Brummie71

Trentenders wrote: »

You don't need to own something to have an insurable interest in it.

Indeed - my mistake in terminology. I should have used insurable interest. My bad.

Barter

Here's the response I got from Aviva:

Dear <deleted>,
Aviva Policy Number: <deleted>

Thank you for contacting us regarding your home policy.
I write to advise that cover is automatically applied to your policy in regards to fitting solar panels, this is covered under the building section of your policy.
If the solar panels are not attached to the building or are not located at the risk address you would need to contact our customer services department on 0844 891 1102 as this will need to be referred to our underwriting department and you would need to answer the following questions:
· location/distance from property/security of panels
· method of fixing (e.g. on poles, free-standing)
· value/number of panels
· exposure to damage (e.g. by trees or vehicles)

Should you share the use of a solar panel we can still provide cover but in the event of loss or damage we would only pay the relevant proportion.
I hope this helps but if you need any further information please do not hesitate to contact us again.

Yours sincerely,
<deleted>

Aviva Direct