Installing a pellet stove may impact homeowner insurance premiums and coverage. While it can provide an efficient and cost-effective heating solution, insurance companies may consider it a potential fire hazard, which could lead to increased premiums. However, some insurance providers may offer discounts for homes with pellet stoves if they are professionally installed and meet safety standards. It's important to consult with your insurance provider to understand how installing a pellet stove may affect your specific policy. Additionally, proper maintenance and adherence to safety guidelines for pellet stove usage can help mitigate any potential impact on homeowner insurance.