Surely you have heard of this insurance, but if not, here we tell you what it is and why it is so important to have it when you are going to start the process of installing solar panels.
You can sign up here for a free consultationto start your transition to solar energy, install your solar panels and access your HOI Insurance.
First it is necessary to understand what this insurance is and what it includes. HOI insurance stands for "Homeowner Insurance" and it is recommended that all homes have it, because it is the homeowner's insurance, in some states it is a requirement for the installation process, this insurance protects the investment of your home and the goods you have inside it in case of a natural disaster.
What does it include?
Homeowner's insurance covers various damages, for example:
- Those that are caused to your property (they can be caused by people outside your family or by your pet).
- Damages suffered by persons inside your property caused by the property itself (accidents due to poorly finished finishes, etc.).
- Natural disasters, such as hurricanes; since in the United States it is very common to see this type of events. Although in some states it is not mandatory to have it, you can decide to keep it or acquire it.
Who should pay for the insurance?
It must be paid by the owner of the house, i.e. whoever appears on the title of the house, since this is the person who will insure the house and what is inside it.
How can I acquire it?
If you want to install solar panels with Solar Mission, we offer you the possibility of including the insurance in the total price of the photovoltaic system, so while you pay for your home, you pay the insurance in very comfortable installments or the payment method you choose. In some cases, HOI insurance is included in your mortgage, so it is important that you review it during the consultation with one of our advisors.
How much does insurance cost?
The value varies and depends on several factors, such as the coverages selected, the characteristics of the home and the value of your personal belongings. There may also be additional costs for additional coverage or increased coverage limits.
At the time of purchasing this HOI insurance, the best thing to do is to inform the Solar Consultant you are working with about the points you want to include in it, so you will know how much it will cost.
How long does the insurance last?
The insurance lasts as long as you pay for your home. Once you finish paying for it, you can choose to continue the insurance or cancel it. Please note that if you want to continue the insurance you must pay annually.
It is advisable to renew the insurance and be backed against any damage that affects our home or property.
It should be clarified that this insurance is different from the warranty of the solar panel system. The warranty does not include natural disasters of that magnitude, so it is advisable to purchase the insurance to protect your investment from any calamity. If you want to know more about the warranty that covers your solar panels, we invite you to read our blog "Doubts about the warranty of your solar panels" .
Register here if you want to schedule a free consultation, start your installation process and learn more about HOI insurance.