A roof is no doubt one of the most important parts of a building. This is what shields you from the elements; rain, sun, wind, debris, hurricane, ice, you name it. Because they are this important and at the same time due to what they have to contend with, they do not last forever. They can be damaged over time by wear and tear due to these elements.
This makes them an issue of contention in home insurance. Roofing insurance comes along with insuring your home or building. Insurance companies though are wary about insuring them for several reasons. Depending on the kind of insurance you have, these companies may put in different clauses in your coverage that limits the cover for or excludes certain aspects of your building.
Most companies oftentimes will want to only insure them against fire, acts of nature (which include things like hurricanes and tornadoes) and vandalism. They will be reluctant to handle repair or replacement or to insure one that its age is between 15 to 20 years or greater. This website at https://www.thebalance.com/roof-insurance-coverage-basics-replacement-cost-vs-acv-4584224 does a great job explaining this.
To get the best deal on your insurance, you will need to shop around for what is good for you. The fact that a company is limiting your coverage does not mean the next one or all companies will do so. Check around and do a thorough research for one that can save you money. Limiting your coverage or not having replacement cost coverage can cost you thousands of dollars.
Also, maintaining your roof is a good way to protect yourself and also give yourself a chance at getting the insurance company provide affordable cover for it. Call them for an inspection and gather as many documents as you have including your current home insurance policy, receipts of repair work done by you, home inspection reports, etc. This will be helpful in your claims process. The company will come and inspect it and make an assessment.
Tips for Maintaining Your Roof and Protecting Yourself
- Take photos of your roof and store it for documentation purposes. If there is any damage, also take a photo of it so it can help when you are making claims.
- Replace worn or broken tiles and shingles. Also, check for leakages and reposition displaced shingles.
- Call an inspector to check for any damage and to see if it needs any form of repair especially if it is over 10 years old.
- Cut any trees that might be hanging over the house. Be sure to also remove dead trees.
All of the above maintenance tips plus those not listed, enhance your of getting a good home insurance policy. In negotiating or picking a policy, always consider these factors
- Is it an “All Risk” or “All Perils” cover, or is it a “Named Perils” coverage? A “Named” coverage will put limits on your policy.
- Does it contain a Replacement Cost cover which covers the roof or will payment be done on Actual Cash Value (ACV) basis.
- What are the limits in your policy and what is the deductible if any? A deductible is an amount you pay in insurance claims before the coverage is activated and the company begins to pay you.
In the eventuality that you need a roof replacement, here are tips that can help you save on cost
- Know the size of your roof and the type of materials you need when talking to contractors.
- Schedule your replacement to happen in late winter or during spring as roofers are busiest during the summer and fall. This may get you lower prices and discounts.
- Check around for good roofing contractors.
- You may consider an overlay which entails laying new shingles over the old ones. This may be more cost-effective in the short term but may not be so in the long run. This is because it may then add to cost of removing both layers when you are ready for a full replacement.
Getting a professional roofing contractor like the ones here in the initial stages before starting work on your roof will save you a lot of stress. This should be someone who has experience in providing accurate estimates. This will also help in getting a good deal with an insurance company.
Some contractors employ Certified Public Adjusters who deal with the insurance companies on your behalf and help you go through the claims process as well as getting a repair or a replacement.
It is therefore clear that working with a professional helps with both the maintenance of your roof and your insurance cover.