Roof repair and homeowners insurance coverage can be a bit confusing to say the least. That is why a great deal of homeowners are unsure if they have full insurance coverage if their roof needs to be repaired. That being stated, you may very well have coverage for a roof repair under the dwelling coverage section of your homeowners’ insurance policy. In essence, the coverage is meant to protect the structure of your property from unforeseen situations, and that includes damage to your roof.
For example, if your roof is damaged due to hail, heavy winds, fire or the buildup of snow and or ice, your homeowners’ insurance policy may pay for the balance of the repairs after the deductible is factored in. Did you know that even small leaks may be covered as well? However, it must be proven that the leaks were actually caused by the hail, heavy winds, fire or the buildup of snow and or ice. On the other hand, if the damaged was caused due to normal wear and tear, or a lack of proper maintenance, chances are high that your insurance company will deny your claim.
In addition, your roof repair coverage is typically limited to roofs that are older than 20 years old. If that is the case, you will be insured at the actual cash value instead. That means you will only be reimbursed for the value of the roof after 20 or more years of depreciation. For example, if your roof is 25 years old, your reimbursement will be pennies on the dollar. You also need to be well aware that an additional hail and wind deductible may be required. It is always a good idea to check with your insurance agent in order to determine whether or not hail and or wind damage is covered or not, or covered by an additional deductible alternative.
It is also important to ensure that your homeowners’ insurance deductibles are affordable. You can always lower your deductible amounts by slightly increasing the policy fees. For example, if it only costs an additional $25/month to lower your deductible from 10% to 5% it may be well worth it. (Please note these figures are used for example purposes only.) If the roof of your home is in need of repair it can cost thousands of dollars. While you may be under the belief that the cost will be covered by your homeowners’ insurance policy, this may or may not actually be true.
There are several factors that determine if you will need to pay out of pocket, or your policy covers the roof repair after the deductible is applied. It is always best to carefully review your homeowners’ policy with your insurance agent.
If you own a home in the Commonwealth of Massachusetts you need to ensure that you have the proper insurance policy in place. Please consult with a professional insurance agent that can answer your questions about roof repair and homeowners insurance related topics. It is important to fully understand exactly what you are buying when it comes to insurance policies. If you have any questions, please call (508) 831-0133 to contact an associate at Zawada Insurance. We are happy to walk you through the details of your insurance policies and explain your coverage options. We look forward to helping you with all of your personal and or business related insurance needs now and in the future.