When a big storm passes through causing damage to your roof, one of the first thoughts that crosses your mind might be: “Will insurance cover this?”
Roofs are major investments into your home, and you expect them to do their job for 15-20 years, so when there is storm damage it is easy to hit the panic button. In this blog, we go over what insurance covers and how MLM can help.
Types of Damage
The damage insurance covers is acts of nature– something that happens unexpectedly and is out of your control. Acts of nature include a snow storm, hail damage, ice storm, extremely high winds, fire and variants of these acts. If high winds cause a tree to fall and that creates damage, it is most likely covered by insurance. But if this tree had been dead, and the fall could’ve been prevented, it might not be covered.
In the similar mindset, leaks may or may not be covered depending on the situation. If the leak is caused by a horrific storm that caused missing shingles and heavy rain entered into your home, that is a scenario that could be qualified to be covered. But- if this leak was caused by neglect and failure to perform regular maintenance on the homeowner’s part you will not be covered.
What if I have an older roof that was damaged in a storm?
Some policies take the age of your roof into account at the time it is damaged. For example, if your roof is under 10 years old, you may be covered for the full cost of repairing or replacing the damaged section of your roof at the time of the claim. If your roof is over 10 years old, you may only be reimbursed for the depreciated value of the damaged roof. The depreciated value takes the aging and wearing of your roof into account, meaning its value has decreased prior to any damage occurring.
Depending on where you live, some policies will only offer roof damage coverage up to the depreciated value, regardless of the age of your roof. Other policies will cover the full cost of repairing or replacing the damaged section of your roof at the time of the claim, regardless of the age of your roof. If the damage is determined to be from aging, wear and tear, or poor condition of your roof, it will typically be considered normal maintenance, and will not be covered under your policy.
Precautions to get the most out of your insurance
Get your roof inspected by a roofing contractor. Your insurance company will not cover damages that seem to occur due to negligence. Sometimes this might get mixed up with an actual damage and you get the short end of the stick. Carry out regular inspections on the roof with a contractor to know the condition of the roof always.
Fix minor problems. Minor issues like a weak spot or a broken shingle should be fixed before it’s too late. Your insurer can easily show up unannounced and finding such negligence can lead to canceling your policy.
Let MLM Help You
Regular maintenance and inspections will keep your roof in great shape and will ensure you are covered when you need it most. Schedule a free inspection with MLM today!