Insurance companies dropping homeowners with solar panels in Florida

[rossimarti]

INSURANCE companies make money by NOT providing insurance. It’s that simple.

[JoeSmith-fuyx]

So basically any money you might save by going solar will go directly to higher insurance premiums. The commoner gets shafted by everyone constantly.

[airtow]

Insurance is almost like legal stealing. They take your money, for years, then fight you if you make a claim.

[excuzza]

Our business was burglarized. We didn’t report it to our insurance because it would cost us more in the long run. Insurance is almost like filing bankruptcy.

[kpdvw]

strange how insurance companies NEVER fail to collect and hike premiums but are quick to deny claims...?

[taofledermaus]

Insurance (home, life, car, etc) is like a casino. They always win.

[rwdplz]

Insurance companies and electric companies abusing their monopoly powers? Who could have seen this coming?!

[mscolli]

I haven't had homeowner's insurance for 20 years. Went through 3 hurricanes, 1 direct hit. Had to re-roof twice but the cost of 2 roof repairs is less than the 60-80k in premiums (plus the loss of investment growth) that I would have paid.

[justdoingitjim]

I was a contractor living on the coast after a hurricane and I saw first hand how hard insurance companies will fight to keep from paying out on claims.

[glenjo]

Pay forever, and when something finally happens, you have to take them to court to get your coverage. Insurance companies are crooks.

[hellohumans]

if your monthly electricity bill averages around 250$ and you spend 50k on solar power that means it would take 16 years to get your money back

[williamlouie]

Insurance companies : We only collect payments. We don't payout to our customer's claims.

[cju]

I'm hesitant to install solar panels because there's high chance the roof will start leaking due to shoddy workmanship. I inspected the attic and it was built poorly. One of the reasons insurance cost is high is because of low quality of materials and bad workmanship.

[zxturbo]

There is a good reason for this. Solar panels require you to drill several unnecessary holes in your roof in order to secure them and makes your roof more susceptible to leaks and water damage. Most people don't know how to install them correctly to make them water tight, and not only that but it's going to be a nightmare trying to re-shingle your roof with all of that solar panel crap up there, it all has to be removed in order to reach the shingles underneath. No roofing company is going to want to touch that and so you will have an old leaky roof eventually.

[pharoahmonk]

These insurance companies are incredible. They will look for any reason to drop you. Disgusting.

[danschwartz]

Most people don’t realize that when you make ANY home improvements in excess of $10, 000 you should be notifying your insurance company to review total replacement cost of home.

[ellag]

OMG! During a sales pitch, I asked what would happen with my home insurance company with attaching panels to my roof. What happens when I need a new roof? Who pays for removal and re-install? No answer was provided…..

[tonyburzio]

Anyone notice no one asked a single insurance company why they won't cover solar? There are reasons, but all these "reporters" did was ask solar companies.

[ImaLurkin]

This is not only happening in the southeast of the country. Last year I got dropped from my homeowners insurance out of the blue, for having solar panels on our house. Saddest thing was, before I had the panels installed I cleared it with the insurance company.

[JusticeAlways]

Home insurance in Florida has become ridiculously expensive..with or without solar panels.