Most homeowners’ insurance will cover roofing but there are some exceptions to most policies. These include:
- Older Homes – say you bought a home with beautiful slate roofing, but the home is about a century old. The home appraiser gave the go ahead for the sale of the home, but also recommended that a new roof will be in order soon. Maybe you purchased this home out of sentimental value or fell completely in love with the character of the home. Even so, and despite the fact that you just purchased the home, the insurance provider may not pay for the replacement just yet, because there were no warranties issued with the purchase of the home. You may have to wait out an entire cycle of ten to twenty years before the homeowners’ insurance covers anything related to roofer repairs.
- Storm Damage – because each year there’s some susceptibility of damage from storms and winds, there may be limits to when and how much the insurance policy will cover. The fact is that if each repair were to be handled by the insurance provider, chances are bankruptcy would transpire for the company. Instead a simple solution for getting the roofing resistant to storm and hail damage would be to ask about impact resistant roofing. There are many types of roofing systems that are built to be flexible – for enduring high wind speeds during storms. In addition, hail resistant roofing is perfect for areas with a lot of hail.
- Total Cost Coverage – consider damage that may have occurred to the roof, and the insurances stipulates that coverage is offered for this occurrence once every ten years, will they fix the whole roof or just the parts that were damaged? In many cases, the roofing company will tell homeowners that most insurance policies only cover a portion of these replacement costs. One way to handle an unexpected roofing replacement bill – if you do not currently have the savings or insurance to do so is with a home repair loan. You can visit your local bank to learn about interest rates and the terms of payment.
To cut down on the cost of insurance, research the local vicinity to find what homeowner’s insurance providers look out for when offering discounts. As an example, if you’re taking out auto insurance, the insurer will usually slash fees if there are anti-theft features and alarm systems on the car. Similarly, when there are certain materials, like hail resistant roofing in areas like Denver for instance, chances are that discounts will usually be in effect.
Homeowners can furthermore plan around manufacturer’s warranties and average life spans for roofing. You should plan for a complete replacement every twenty years or so. More common and cost-effective tiles will need to be replaced more often, such as vinyl or asphalt shingles for instance.
By conducting frequent maintenance also, homeowners can protect themselves – and their roofs from premature aging. The homeowner can possibly extend the life of the roof by up to ten to twenty years in most cases – with thorough inspections and maintenance.