Replacing or repairing your roof for any reason can be a stressful situation as it can be costly and problems with your roof have an impact on your day to day living. Roof replacement is usually something that you cannot delay when it is needed, and your insurance company can help you cover the cost. However, it’s important to consider several factors before your insurance claim will be granted. You may be wondering if your home insurance payment is likely to go up if you get a new roof.
How Making a Claim Affects Your Insurance
As with any insurance policy, making a claim might have an impact on how much you pay in the future. Since a new roof is typically quite an expensive claim to make, it could impact how much you pay for your home insurance policy going forward. If you do not make any further claims on your home insurance policy for the next few years after getting your roof replaced, it is likely to return to normal. It’s a wise idea to speak with your insurance company to determine if your policy price will rise after making a claim and how much by.
Full Coverage for Roof Replacement or Repairs
In some cases, the full insurance coverage will be given for repairing or replacing a roof; however, this is not very common and, in most cases, only a part of the cost will be covered. Full coverage will only usually be granted if your roof was previously brand new or in very good condition before something happened that led to the need for repairs or replacement. For example, this might happen if your insurance policy covers floods or storms, and your roof has been damaged as a result of it.
It’s also important to consider whether or not your insurance company will pay out for the expense of a new roof. Again, this will depend on the damage that has been done to your roof, how it was sustained, and the condition of your roof beforehand. You may need to prove to the insurance company that a new roof is needed and that repairs alone will not be enough to fix the damage before you will be able to claim for the full cost of a roof replacement. It may also help if the cost of a new roof is likely to add up to less than repairing each area of damage.
You will need to get an estimation of the cost of repairs or replacing your roof before you can file an insurance claim. To do this, get in touch with a reputable roofing company that can carry out the estimation. Many roofing companies are happy to do this for free, so it’s worth getting in touch with several different ones. Check with your home insurer to see whether you will be able to choose a reputable roofing company to carry out the work or whether they will arrange this for you as part of the insurance policy, since some insurers will only work with their own trusted partners.
Determining the Cause of Damage
The cause of the damage is one of the most important factors that insurance companies will consider, since it will determine whether or not they are able to provide you with cover to repair or replace your roof. Most of the time, the insurance company will not cover the cost of replacing a roof that has been damaged by regular wear and tear. However, damage from natural disasters such as hurricanes, storms, flooding, and fires will typically be covered, along with criminal damage such as vandalism.
Paying for the Roof Replacement Yourself
In most cases, a roof that needs to be replaced because it is old or has been subjected to wear and tear over the years that has left it unfit for purpose will not be covered by your home insurance policy and is an expense that you’ll need to foot by yourself. However, unlike making a claim, paying for your roof replacement out of your own pocket might have the opposite effect on your regular policy payments. As long as you make sure that you update your insurance company as soon as your new roof is fitted, your policy payments may be reduced in the future due to making major improvements to your home and reducing the risk of issues such as leaks.
Signs You Might Need to Replace Your Roof
It’s important to know the signs of a roof that is in need of replacing. Whether you can make an insurance claim or need to pay for it out of pocket, spotting the following signs will help you ensure that your roof replacement is arranged as soon as possible and that you avoid any further major costly issues.
#1. Buckled or Curled Shingles
Shingles that have become visibly distorted are a clear sign that your roof is aging and needs to be replaced. Buckled and curled shingles occur due to moisture that forces the nails to push upwards, leaving your home more exposed to the elements.
#2. Missing Granules
If granules are missing from your roof, it’s a clear sign that it is no longer as weatherproof as it once was. You will often find granule accumulation in your gutters when cleaning them if this is happening on your roof.
#3. Mold and Moisture
If you do not have the right ventilation in your attic or loft space, the warm, moist air from inside your home is likely to get trapped in there. It will gather on the underside of the roof as it condenses, leading to mold formation and causing nails to rust and plywood to rot. After some time, this is likely to cause the need for a full roof replacement.
Most roofs are designed to last for ten to fifteen years; however, things can go wrong during that time which may lead to repairs or the need for a replacement. In some cases, you may be able to claim the cost of replacing your roof on your home insurance policy, but bear in mind that this might increase your future policy payments.