Your home is one of your largest investments. All the money and time you have spent making your house your home may be wiped out in just a few minutes. That is the reason why you have homeowners insurance. Regardless if it is a theft, catastrophic weather event or unfortunate accident, it is essential to ensure you are covered if disaster strikes. However, in terms of roof damage, lines could get a bit blurry.
What to Know about Roofing Insurance and When You Could Use It?
Roofing insurance is basically a part of your homeowners insurance and covers roofing in cases where it’s damaged to the point that it requires replacement or major repair. It may include roof damage that is due to reasons outside the homeowner’s control including vandalism or fire. Damage from an extreme weather like tornadoes and hurricanes are typically covered. Together with the same lines, damage on the roof caused by general weather incident including rain, wind, and hail frequently covered by home insurance policy.
If damage is due to an unavoidable event, you are normally covered. However, in terms of avoidable cases, it isn’t so clear.
Be Cautious of the Fine Print
Not every homeowners roofing insurance covers all your roofing requirements. There are numerous factors that you must take for consideration. For instance, if you have an old roof, insurance companies consider such roofs to be past their life expectancy and might consider reimbursing only a part of any replacement or repairs or nothing at all. Some possible policy exclusions might include neglect or improper maintenance, use of certain, costly roofing materials or roofs with two or more roofing material layers. Even the geographical location of your home may affect whether the insurer would cover roof claims.
Insurers try limiting liability for all kinds of roof claims for hail or wind or anything aside from fire. The best way they can do this is through changing the kinds of coverage. In some places, there are wooden shake endorsements and what other companies do is insure them on actual cash value basis, which means that such roofs are covered only for what they are worth at the time rather than for the replacement of cost. A good way to determine what’s covered is by speaking with your insurer about your policy.
Best Tips to File a Roofing Insurance Claim
To start the process, contact your insurance company – we can then inspect your roof to know if the damage has occurred. We can provide you an estimate for the roofing insurance claim you have filed. In addition to that, make sure to gather as numerous documents as you can before calling your insurance company. Having a copy of home inspection reports, home insurance policy, receipts for repair work you have done, and photos of the damage are all beneficial in easing up the process of claims. The insurance company typically sends out adjuster to inspect damage and provide their assessment and determine the insurance company’s amount would cover.