Your roof is one of the most important and expensive pieces of your home. It is what keeps the rest of your home protected from bad weather and can be the most difficult piece of your home to replace or repair. On average, home roofs cost around $7,484 which can be incredibly expensive to replace out of pocket if you don’t have the proper insurance.
There are different ways a roof can affect your home insurance rates. If you have a more expensive roof, you may need higher limits of home insurance coverage. On the other hand, roof that serves as a safety upgrade such as weather-resistant roofs can save you money. This is because a weather-resistant roof can lower the risk of a claim, which can lower your home insurance rates.
Does Home Insurance Cover the Cost of Replacing a Roof?
Depending on your roof and circumstances of the incident, home insurance can cover the cost of replacing your roof. Roofs can be expensive, so first it is important to check that roof replacement is covered under your home insurance policy. A roof replacement could cost over $7,000 or more, so be sure to check the limits on your policy.
You should also check to make sure the reason for the roof being destroyed is covered.
For example, home insurance policies do not cover damage or loss caused by homeowner negligence. If the claims adjuster sent by your insurance provider believes the damages were caused because you failed to correct an obvious problem, this could affect how much compensation you receive, if any. Say that you have a few shingles missing from your roof for a few years. A bad storm sweeps in and causes a horrible leak that damages a good portion of your roof, so you file a claim for compensation in hopes of replacing the roof.
Unfortunately, if the claims adjuster identifies the missing shingles as the reason for the damage, your compensation could be affected. This is because the insurance provider can argue that you failed to fix the issue before damage was caused, thus the damage was due to homeowner negligence.
No matter whether you are looking to replace your roof or searching for an insurance policy with the coverage you need, be sure to speak with an insurance agent to discuss your options and guarantee you will be covered when you need it most.