Lori B
New Member
- 10
I'm curious… do most realtors typically have a solar company that they refer clients to?
Solar Installation Referrals?
- Thread starter Lori B
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Kim Mastridge
New Member
- 8
I am not sure on that aspect, but I DO wish there was a bit more disclosure to buyers about the impact on insurance when you go solar. I am not saying that solar is a bad option, but I do think it is important that buyers make an informed decision. I recently had a client that had purchased a system that is so large and has such a large buyback, that it became a non-starter for most of my carriers. We were still able to cover him, but it doesn't seem a good practice to not advise them on it so they can decide if the benefit outweighs the lessening of options. He might have gone with a different type of system and made sure he could have plenty of choices.
- Thread starter
- #3
Lori B
New Member
- 10
It sounds like either Realtors or Solar agents (or both), should provide information to anyone who is considering solar panels!
- 2,349
Do you find that this is a common problem?
How big was the solar system [no pun intended]?
Was it a leased solar system or some sort of new version?
- 2,349
Not sure you are going to get a lot of real estate action on this site.
Policy Monkey
Super Genius
- 155
Here in Florida (the "sunshine" state) solar panels are more and more common. But there seems to be no consensus between the carriers on how to cover them. Some don't care (as long as the panels are in the RCE), some won't touch them with a 10' pole. Some will only cover up to certain kW (tier 1 or 2), others won't accept if there is any utility buy-back at all. It's very frustrating as an agent.
- 2,349
Do you think thats because of hail damage, missinstallation, electrical surge, VMM, or IFF?
Policy Monkey
Super Genius
- 155
I don't know what that answer is. I'm sure the cost has something to do with it. (As we know, those systems are not cheap.) Some are probably concerned with holes in the roof deck for the mounting brackets. (I know of one carrier that won't accept PV on a tile roof, but shingles are OK.) And at least one carrier rep cited liability concerns with removal and reinstallation.
Another consideration - Some clients tell me that FPL (Florida Power & Light, our biggest power company) makes them carry $1M liability as part of the energy buy-back contract (presumably to cover power surges or shocks to workers?), but other clients do not have that requirement. So again, there seems to be no consensus.
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Hummmm. So a personal liability policy might cover a commercial electrical expert, trained and certified by the state, in case they are injured when they already would have workers comp and their own commercial GL policy? Hum...I often wonder if some of the folks that write these contracts think these things through. Not my field of expertise, so...
Policy Monkey
Super Genius
- 155
I have had the same thought. Even if they hire sub-contractors (which is common, especially after a storm or disaster), FPLs vetting process must include verification of training and insurance. But then again, this is Florida, so who knows?
It certainly doesn't seem that way.
