Installing solar panels can affect your home insurance, however this change is generally straightforward and necessary to fully protect your investment.
1. Update Your Policy
When you add solar panels and / or a battery to your property, it is suggested to notify your insurance provider immediately.
- Sum insured: Solar panels and a backup battery are considered permanent fixtures and are covered under your existing building insurance. It is recommended to update your policy’s sum insured (the total amount it would cost to rebuild your home) to include the full replacement value of the solar system
- Consequence of not notifying: Failing to update your sum insured means you risk being underinsured. If the solar panels and / or battery are damaged by fire, hail, or storm, your insurer may not cover the full replacement cost.
2. Premium
Your insurance provider will assess your policy, and your premium may see a slight increase. This increase reflects the added cost of replacement, as the total value of your home has increased.
However, the increase is typically modest when compared to the significant long-term savings and the value that a solar and battery system adds to your home.
3. Coverage and Value
- Check Your Policy: Always review your Product Disclosure Statement (PDS) to confirm what events your solar and battery system is covered for (e.g. hail, fire, theft) and what is excluded (e.g. wear and tear)
- Discounts: Many insurance companies offer discounts for homes with energy-efficient or sustainable upgrades, which may help to offset any premium increase.
It’s advisable to shop around for insurance quotes and ask specifically about their coverage for solar panels and batteries.
36. What happens if my solar panels start to malfunction?
If you notice any issues with your solar panels, such as a drop in energy production or significant increase in your power bills from your electricity retailer, the best thing to do is reach out to TCK Solar. Our team understands how important your solar system is to your home and your energy independence and we are committed to supporting all of our customers with any issues as we want you to be making the most of the top-quality system we’ve installed for you.
Proactive support and action
At TCK Solar, our process is purposely designed to catch issues early:
- Remote Monitoring: Our team receive critical important or alerts 24/7 of your system which allow us to investigate faults or significant drops in production. In many cases, our team is able to detect and notify you of an issue before you even notice it on your power bill
- Contacting TCK Solar: If you think there are irregularities with your system, please contact our team immediately so we can analyse it for you and investigate how we can help.
Warranties and resolution
Most top quality solar systems come with multiple warranties (product, performance, and installer) that cover any repairs or replacements. Our team of design engineers will guide you through the diagnosis process, which may include confirming the warranty status, and arranging for one of our in-house electricians, or apprentice electricians, to address the issue promptly and effectively.
It’s important to us at TCK Solar, that you feel way more than a sales transaction. For our entire team you become part of our TCK family of people that are part of our ongoing support network and are generating clean, green energy for the planet. Our team is committed to supporting you throughout your installation journey, ensuring your entire system continues to operate at its best for years to come. And when it comes to the next step of your journey, that you don’t hesitate to contact our team to assist and guide you with that next step.
