Most every homeowner carries homeowners insurance, especially mortgaged homes. Homeowners insurance is there to give you (and lenders) the piece of mind that your investment is protected . In the event of major problem such as storm damage, many expect their insurance to cover just about anything.
The reality is, homeowners insurance doesn’t cover everything. You’d likely be surprised to see what isn’t covered and how claims can be voided.
Insurance companies exist for one reason, profit. They’ve put in place many measures to protect themselves from losses due to fraud and what they see as unnecessary expenses.This includes excluding some types of repairs, materials even roof contractors!
Homeowners who haven’t examined their policies closely may not be aware of these exclusions. This can result in additional stress when confronted with an expensive claim that has been denied.
Read your policy and be familiar with it’s terms. What you find may or may not concern you but the earlier you know the better.
Some of these terms will likely include the following:
Materials
Some insurance policies restrict the roofing materials that can be used to repair or replace your roof. With the sheer variety of shingles and materials available, insurance companies feel more comfortable covering what they know.
The costs of materials vary wildly, “green” materials may be nice and fantastic for the environment but can also be quite expensive not only in materials but future repairs. Many insurance companies will not cover “green” materials simply because of cost, disregarding the long-term value.
Before having any repairs or any other work done to the roof, be sure that not only the roof contractor is authorized and covered, but the materials they use are covered by your policy.
Roof Replacement/Improper Maintenance
Most roof repairs are typically covered in most policies, especially storm damage and other unforeseen problems. However, if the damage is attributed to poor maintenance or another issue due to negligence, the claim will likely be denied.
This includes complete roof replacement is some cases. Most damage warranting replacement will likely be covered by insurance. However simply not having documented regular maintenance can void almost any type of replacement claim, regardless of the cause of damage.
Other exclusions:
– Mold and mildew, especially in newer policies.
– Flood damage from “ground water”. Even if the cause is as simple as clogged gutters, insurance labels this ground water damage.
– Bad workmanship: Even for work work performed by a roof contractor referred by your own INSURANCE COMPANY!
– Old or poorly maintained roofs
– Lack of “Due diligence” on the part of the homeowner. This usually means not reporting a problem or damage in a timely manner.
Also, check the deductible amounts to see how much YOU will be responsible for in the event of a claim. A lot of insurance companies are raising deductibles on certain types of claims these days. This might explain the lower rates of some policies, know what you are getting for your money!
The bottom line is, your policy may or may not cover these things, it is important for you to know what your policy does and does not cover. Read your policy and call your insurance agent with any questions so you know what to expect when the time comes.
Atlanta Roofing Specialists are the insurance experts when it comes to your roof! Call us today at 770-419-2222 for a free estimate! Working with homeowners and insurance companies since 1993!