Confident that your homeowners insurance will kick in in the event of a roof-related problem? You may want to go back and read the fine print.
Your plan likely offers protection against some common causes of roof damage, but it’s doubtful that it accounts for all of them. Knowing what’s included and what’s not could mean the difference between preserving your peace of mind and taking a heavy financial hit.
Consider the following facts, then review your policy to be sure you’re covered—literally and figuratively.
Most Homeowners Insurance Policies Only Cover Sudden Damage
“Sudden damage” is generally understood as being caused by events that can’t reasonably be planned for or prevented, such as extreme weather, fire, or falling objects. It is distinct from the kind of gradual deterioration that can occur as a result of natural aging or cumulative wear and tear.
As the homeowner, you’re expected to accept the responsibility of keeping up with regular maintenance.
You May Only Qualify for Partial Coverage
Even if your insurer agrees to pay out on your claim, they might not foot the entire bill.
Some insurance companies are only willing to put up a percentage of the cost required to deal with roof damage, even if it stems from a cause that falls under the covered perils they themselves have outlined. Such percentages can vary and will depend largely on the size and scope of your particular plan.
Regular Roof Inspections Can Save You Money and Stress
A yearly inspection will keep you one step ahead of common issues like cracks, leaks, and rot and afford you the luxury of having necessary repairs made before they develop into full-blown calamities.
In other words, making it a point to maintain your roof over time can help you avoid having to come out of pocket for more extensive repairs later on down the line.