Does Homeowners Cover Leaking Roof – Many homeowners wait until they have a damaged roof to ask the important question: Will my homeowners cover roof damage? The best information about what is and isn’t covered will come from your insurance provider. In most cases, some types of damage are covered by your homeowners insurance. The type and amount of coverage can vary based on your location, the age of your roof, and other less obvious factors. It’s always best to familiarize yourself with the specifics of your homeowners policy.
When you sign up for an insurance plan, you’re trading a regular monthly or annual premium for coverage in the event of a catastrophic (or just expensive) loss. The insurance company is betting that you will pay higher premiums than you claim for coverage. Meanwhile, homeowners are betting that their total premiums and deductibles will be less than the loss they’ll be able to claim, making the policy a net gain for the homeowner.
Does Homeowners Cover Leaking Roof
The fact is, as with any gamble, the house always wins. In insurance, this means that insurance companies will always collect more in premiums (across all their customers) than they pay out in claims. If they don’t, they won’t make any money and have no reason to exist. To ensure that the insurance company always wins, insurance companies hire teams of defendants. Their only job is to find out what kind of claim you (or a customer like you) are likely to make. With that information, insurance companies set premiums and deductibles so they always come out ahead.
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If there is actual damage to your roof, you may be the lucky customer who gets paid. The reason insurance companies are able to exist is because sometimes they actually cover claims higher than the combined premium and deductible of the customer. And customers are willing to pay a premium to protect themselves in such situations.
Being an insurance company and not just a “payout company”, insurance companies do not cover all damages and repairs. If your roof is damaged due to age and disrepair, it may not be covered. It is your responsibility to maintain your roof and replace it when it reaches the end of its useful life But if you have an unexpected and unavoidable loss, that’s when your insurance kicks in.
Generally, insurance covers unexpected and unavoidable losses from fire, vandalism, and weather damage (such as hail, wind and tree or storm debris).
Before an insurance company will pay for repairs or replacements they will send an adjuster to do an inspection and verify the extent of the damage. Adjusters are there to protect insurance companies from fraudulent claims. They will determine whether the damage was from a covered event (such as from hail and not the homeowner’s sledgehammer) and the amount of damage. After the inspection, the insurance company will determine the estimated cost of repair (or sometimes full replacement).
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Pictures are the best way to help an insurance adjuster determine the cause and extent of damage. They say a picture is worth a thousand words. In this case, it could be worth thousands of dollars (or more). Take some “before” pictures of your roof and the exterior of your property. This includes gutters, siding, and anything else attached to the structure of your home. Take new photos after any maintenance, so you always have a current picture of how your roof and property looks.
In case of storms or other damage, take photos as soon as possible safely. This will help the insurance adjuster determine what damages have resulted from the covered event. Of course, it’s not always safe to take pictures up on the roof, especially if you suspect your roof is damaged. In that case, you can wait for the adjuster or call a reputable roofer for an inspection.
Eagle Watch Roofing will come out to your property and meet with your insurance adjuster on the spot. Our trained and experienced roofers will work with your adjuster to get you a fair estimate of the damage. Once the adjuster determines the amount of damages and approves the claim, we will ensure that they cover all applicable damages. We will also advise you to ensure that the insurance company pays the current industry standard regional rates. This way we can make all necessary repairs to your property for the replacement cost determined by your insurance company. Your deductible and the cost of any upgrades will remain with you.
They say there is no such thing as a free lunch. There is no such thing as a free roof. Any roofer who advertises a free roof should send you running in the opposite direction. Unless you have a zero-deductible homeowners insurance policy (they don’t exist), you’ll always pay something.
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There are roofers who advertise roofing for free. They say they will waive the deductible or absorb the deductible. Unfortunately, there’s really no legal way to do this, so chances are they’re relying on some very shady invoices to keep you from paying the deductible.
Insurance companies used a very simple strategy to cover claims. The adjuster will come to your home and determine the amount of damages. The insurance company will estimate the repair cost. They will then write a check to the homeowner deducting the repairs.
The home owner was free to do whatever he wanted with that money. If the repair is estimated to be $5,000 and the deductible is $1,000, the homeowner will receive a check for $4,000. The homeowner can then choose to pay $2,000 of cut rate (lower quality) roofing for repairs and purchase. Hawaii tickets with rest. Or they can skip repairs altogether, keep the $4,000 and live with a tarp over their living room. The choice was theirs.
That’s not how insurance works today. Most policies contain a replacement cost value provision. That means the insurance company will only pay the actual cost of repairs. Some money will be left to the homeowner to get started, but the full cost of the repair can be recovered with just an invoice from the roofing contractor or general contractor. Typically the roofing contractor bills the insurance company directly.
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It is illegal to take money back from an insurance claim to the homeowner This protects insurance companies from homeowners seeking personal profit from a claim This means that a homeowner (or roofer) can only get as much money from the insurance company as the roofer runs. Roofers who advertise free roofing usually cover the deductible by billing the insurance company for their work. This is straight up fraud, and if you get caught, it probably won’t just be the roofer who takes the blame.
Most homeowners are not experts in insurance or roofing. Fortunately, the staff at Eagle Watch Roofing are the type of experts you need. We have years of experience with both roofing and roofing insurance claims. We’ll walk you through the claims process and make sure you get the repairs you need. And our experts will help make sure you get all the coverage you deserve. In most cases, you only pay the deductible. If you think you have a claim for damage to your roof, make Eagle Watch Roofing your first call. A white circle with a black border around it indicating a chevron It indicates ‘Click here to return to top of page.’
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