Solar water heaters are often placed on rooftops. (Credit: Shutterstock)
Policyholders already have several water heater characteristics to decide between — tank vs. tankless or gas vs. electric. Now an increased number of insureds are looking to solar as another fuel option for their water heating needs, and adjusters should know what to expect when handling these claims.
Numbers on the overall value of the global solar water heater market vary; however, analyses show that the global solar water heater market is getting hotter and has an expected multibillion-dollar growth by 2027. Insurance professionals shouldn't be in the dark about how solar water heaters work and the different perils they are susceptible to as compared to their gas and electric counterparts.
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