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Florida Peninsula Insurance Company Begins Offering Coverage for Newer Solar Energy Panels

New and existing policyholders with Florida Peninsula Insurance Company (FPI) can now obtain insurance for solar energy panels that meet its underwriting standards. Coverage applies to homes with panels installed on shingle or metal roofs after 2016.

“This specialized coverage is being made available in response to the popularity of solar panels,” Clint Strauch says, president of FPI and its wholly-owned subsidiary, Edison Insurance Company. “Staying ahead of consumer trends has always been a mainstay of our company.”

According to the Florida Public Service Commission, more than 90,000 homes and businesses in Florida have photovoltaic panels included in the renewables grid initiative. Those systems combined generated more than 828,000 kilowatt-hours of electricity in 2020.

FPI and Edison are offering insurance on residences through the Coverage A portion of their policies for solar panels meeting these criteria:

  • Post-construction building permit
  • Panel installation by a licensed solar contractor
  • Utility agreement for Tier 1 interconnection, which by state rules is 10 or fewer kilowatt-hours
  • Shingle and metal roof 10 years or younger
  • Flat roof, five years or younger, if a panel or panels are attached to the flat portion.
  • Inclusion of replacement value and installation cost of panels in the replacement portion of the Coverage A section of the homeowner’s policy

 

The policy must insure the panels to at least 100% of the reconstruction cost estimate. The company is not insuring photovoltaic panels installed on clay-tile or cement-tile roofs.

Homeowners can contact their independent insurance agent for more information or visit Floridapeninsula.com/coverageHomeowners.

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.