Are you looking for roof repairs?
Around 6.2 million U.S. properties experienced one or more damaging hail events in 2020. The roofing of a home is the most vulnerable, being our home’s protection against such events.
What do you do when you need roof repairs or replacement due to hail or other causes? First, you check your house insurance. Keep reading to learn what you should know about roof coverage.
Does Homeowners Insurance Cover Roof Repairs?
Will insurance replace your roof? Most house insurance policies cover roof damage on top of home repairs. However, it depends on the damage caused.
A typical policy includes dwelling coverage. It helps protect your home’s structure against certain perils.
The most common covered perils include acts of nature and severe weather. If your roof incurs damage from hail or a toppled tree during a windstorm, your homeowners’ insurance will likely cover it.
However, some policies exclude wind or hail damage. The latter is quite common. In the scenarios above, you can’t expect a dime from your insurance.
It’s the usual case in areas where wind, rain, and hail are prevalent.
How Much Will Insurance Pay Out?
Insurance policies don’t cover damages from normal wear and tear. They’re unlikely to pay out the full amount of your roof repair or replacement as well. Regardless, let the insurance company do an inspection first.
They might be hesitant to fully cover an older roof. They may only pay a portion of your claim based on your roof’s age and condition. If it’s past its lifespan of around 20 years, you’ll have a hard time filing a claim.
Furthermore, you likely pay for the deductible before your insurance comes in. Your insurance coverage limit applies in this situation too.
What Factors Affect Your Insurance Policy
Insurance companies may or may not approve your renewal based on your roof’s condition. They may also increase your policy, depending on the following factors:
Roof Insurance Claims
If you had roof claims before, chances are you’ll pay for a higher premium the next time. It depends on the claim.
For weather-related damages, insurers may increase your premium. If you filed a claim because your tree fell on your roof, it’s unlikely to happen again. As such, it might not result in a premium hike.
A New Roof
If you replace your roof, you might enjoy lower insurance prices. It’s because you won’t file a claim anytime soon. Inform your insurance company about this change to get the benefits.
Find the Best House Insurance with Roof Coverage
The best way to ensure your house insurance covers roof damage is to ask your insurance company. When it’s time for renewal, shop around to get the best prices.
Talk to your insurance company now to learn the details of your policy’s roof coverage.
Are you looking for more ways to save on home repairs? Read our other posts and learn more.