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5 Questions to Ask when Buying a Roof Insurance Policy

June 30, 2017

Whether it is a residential or commercial property, the roofing system is always susceptible to age-related or environmental wear and tear. Although roofing companies are capable of repairing the worst of damages, the cost of repairs might be be a problem, if the job is not covered by the owner’s roofing insurance policy. Having a roofing insurance in place can ensure optimum coverage in the event of a roof damage, but like every insurance, understanding the clauses can be tricky. Therefore, to ensure you understand all the finer lines of your roof insurance policy, this post discusses five questions you must ask, before signing on the dotted line. Take a look.

1. Will the insurance cover the cost of a new roof?

When a roof suffers any damage, it has to be either repaired or replaced. The extent of the damage decides whether the insurance provider offers a full or partial coverage for carrying out the repairs or full replacement. If the damage is minimal, most likely the repair cost will be covered by your insurance provider. On the other hand, if roof damage is so severe that it poses a threat to the structural integrity of the property, the insurance provider may agree to bear a major proportion of the replacement cost.

2. Are there any exclusions to the policy?

Any exclusion listed as “beyond the scope” in the roofing policy will not be covered by your insurance company, even if the roof is severely damaged. For instance, Peril Insurance commits to pay only those repairs that arise out of weather and environmental damage. On the other hand, all risk policies usually cover every type of damage from debris to broken shingles. However, the exception element applies to risk policies, too.

3. What is the role of the age and condition of the roof?

The age of the roof plays a crucial role in determining the insurance eligibility and repair cost entitlement. In case of old roofs, the insurance policy may take into account the depreciated value while calculating the premium or deciding the repair costs to be covered under an event of damage. Moreover, signs of existing damage, such as water leaks and cracks or blisters may invite a higher insurance premium or even disqualify the roof from the insurance coverage.

4. What are the guidelines for filing a roof insurance claim?

Before reaching out to your insurance provider, it is advisable to get an estimate of the roof repairs required in your property. Roofing companies specialize in inspecting all types of damages, and therefore, can help you get an overview of the repair costs. You roofing company should also be able to assist you in filing a roof insurance claim. As a good practice, reading and understanding the nuances the policy while it is being written can help in navigating the distress caused in the event of a roof damage.

5. Does location impact roof insurance premiums?

Yes. If you live in a region frequented by hailstorms and snowstorms, you may have to pay higher-than-average insurance premiums. In fact, insurance companies assess the factors causing distress to every roof before finalizing the insurance premiums.

The Way Forward

A roof insurance helps you mitigate the costs incurred in roof repairs and may also cover the cost of a replacement. Before opting for insurance, it is important to hire a professional roofing company to inspect the roof, so that you can repair any existing damage to lower the premiums, along with enhancing the lifespan of the roof. If you need a professional roofing company in Dallas, Triumph Roofing and Construction is a name you can trust. We are a team of roofing experts carrying an extensive experience in roof inspection and maintenance. To schedule an inspection for your roof or for a no-obligation estimate, give us a call at 972-332-1766.

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