What Does Homeowners Insurance Actually Cover? Expert Tips from Roofing Experts

Wind and hail account for approximately 40.7% of homeowners insurance losses, with 21.9% being caused by fire and lightning. But what does homeowners’ insurance actually cover when it comes to roof damage?

While policies can vary, and we always recommend that homeowners check in with their own insurance company for specifics that apply to them, there are some general practices that are common across most homeowners’ insurance plans.

When to file a homeowners’ insurance claim for your roof

Oftentimes, it can be hard to tell when it’s time to contact your insurance to repair your roof. What is most common in our experience is to report roof damage to your homeowners’ insurance when there is extensive damage through some sort of “act of God.” For example, high winds, hail, fires or lightning strikes all qualify. Ensure that you get the opinion of a licensed contractor to help determine your best next steps after incurring storm or other types of weather-related damage.

In general, you typically will want to file a claim if the cost to fix the damage exceeds your deductible. If a small repair is only necessary to fix your roof, filing a claim typically does not make sense as your deductible will be higher than the cost of the fix itself.

The purpose of homeowners insurance is to help protect your biggest asset. If a full roof replacement is necessary after a storm, it is in your best interest to utilize your insurance to help cover these costs.

As a heads up, homeowners’ insurance will typically not cover damage caused by general wear and tear, neglect, animals or vandalism. However, each policy is different, and the extent of the damage should be reviewed on a case-by-case basis to determine if a claim should be filed.

Once a homeowners’ insurance claim is filed

Once a claim is filed, will your premium go up? Maybe. On average, homeowners pay $168 more annually after filing one claim. However, each policy and insurer is different, so it is important to research and read through the fine print.

Most premium increases are a result of many claims being filed in your area. For example, if a hailstorm occurs in your city and many of your neighbors file a claim, your premium has a high likelihood of increasing, even if you do not file a claim yourself. Also, if you have filed multiple claims over the past seven years, your premium has a higher chance of going up.

Once a claim is filed, your insurance company will send out an adjuster to review the damage and decide whether they will approve the claim. During this step, it is important to have someone there on your behalf to ensure nothing is missed. We recommend you have your contractor present at the time of the adjuster meeting to ensure you have a professional point out certain aspects of the damage.

If your claim is approved, typically insurance companies will release a portion of the funds to allow you to start the repairs. Once the scope of the work for the repairs is completed, your contractor will send a certificate of completion to the insurance company, releasing the remaining dollar amount of the claim.

A team effort

Roof repairs of any shape or size can be stressful. To help reduce stress, and potentially save yourself money and time, we recommend working with both your trusted roofing contractor and insurance team to make sure all your roofing and homeowners’ insurance questions are answered before repairs begin.

Jordan Rueschhoff is the residential sales manager at Diversified Roofing. Learn more at www.diversifiedroofing.com.

Jordan Rueschhoff, Diversified Roofing