Navigating Roof Insurance Claims
Know when to contact your homeowners insurance company
Homeowners insurance policies typically cover damage that is sudden and accidental, from causes like fire and smoke; hail; wind; and the weight of snow, ice, or sleet.
Roof damage causes that may be covered by homeowners insurance
• Weather events like lightning, wind, or hail
• Debris including fallen trees
• Fire
• And more
The only way to know, for certain what coverage you have is to read your homeowners insurance policy thoroughly.
What does a homeowners insurance policy cover?
A typical homeowners insurance policy provides coverage for three major types of damages:• The structure of your house
• Your belongings
• Your personal liability for injury and property damage to others
Homeowner Insurance Basics
Best practices for filing a roof insurance claim
Once you decide to file a claim, call your insurance company and inform them of the incident. Once your claim is filed, the insurance company will determine if the damage will be covered under your insurance policy.
Five Steps to File a Claim
What do insurance adjusters look for on roofs?
Your insurance adjuster will look for evidence that damage is recent or sudden, as opposed to standard wear and tear, and that the damage is covered by your policy. It can help to have an estimate in hand when meeting with the adjuster.
Supplementing your insurance payment to get the roof you want
The addition of personal credit or financing may help you upgrade your roof to a style or material that better suits your tastes.
Credit cards or financing
Using a credit card may be a good solution to short-term cash flow gaps. Not all contractors accept credit cards — ask if yours does. Financing may also be an attractive option especially if you are considering other home improvements such as siding or gutters. Today many contractors can offer simple online application and multiple loan options.
Watch the Understanding Your Insurance Policy video series
The deductible is often a fixed dollar amount – usually $500 to $2,000, but it can be higher – or it may be a percentage of the home’s insured value. Typically, insurers will subtract your deductible from the settlement amount when they issue payment.
With homeowners insurance, the deductible is one type of out-of-pocket cost each time you file a claim.
The most common type of homeowners insurance is an HO-3 policy. HO-3 policies typically have open perils coverage on the structure of a house and named perils coverage for your personal property.
There are four common things covered under a typical homeowner’s policy: Dwelling, Separate or Other Structures, Personal Property, and Additional Living Expense or Loss of Use.
Actual Cost Value — or ACV — is a measure of the value of insured property. Replacement cost is the actual cost to replace an item at its pre-loss condition, whereas ACV is calculated by subtracting an item’s depreciation from its replacement cost.
Generally, depreciation is calculated by evaluating an item’s Replacement Cost Value (RCV) and its life expectancy. The condition of an item may also factor into the depreciation calculation.
Frequently Asked Questions
What is considered roof damage?
Roof damage is a condition caused by an external force, such as impact or severe weather, that is separate from wear and tear.
What happens if I have partial roof damage?
In cases where only a portion of the roof has been damaged, your insurance carrier will assess whether to cover cost to repair those sections, or to replace the entire roof.
How can I avoid hidden costs for my roof repairs?
Get a detailed estimate from a manufacturer-certified roofing contractor, and make sure it includes costs for tear-off (if necessary) all materials, labor, clean-up, and disposal.
Does homeowners insurance cover roof leaks?
Home insurance will typically cover roof leaks caused by sudden damage, but not leaks that have developed over time because of normal wear and tear or aging.
How long does the roof replacement process take?
Getting a new roof can be easy when you know where to start. Follow these steps for making the experience a great one.