Home Insurance Debacle
Background: California & Florida homeowners are struggling to find & keep their homeowner's insurance. Major insurance companies have stopped writing new policies and are not renewing existing ones. Underwriters argue that litigation costs combined with catastrophic weather events (fires, floods, climate change) have made insuring properties too risky. Banks & mortgage lenders insist that real properties be adequately insured for the loan amount or else it's bye, bye mortgage.
As some of you may know, we were planning on installing solar roof panels this year to reduce our carbon footprint and reliance on the electric power grid. I've since learned however, that some insurance companies are using solar panels as an "exit excuse" from current protection policies. They claim that solar installation brackets compromise the home's structural integrity which renders it "un-insurable."
I see no way out of this mess until lawmakers step-in & take action. So it looks like our dream of installing solar panels is on hold for the foreseeable future. 😓
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