Depending on your coverage and the damage present, you might decide not to file an insurance claim for leaking roof damage. Look over your paperwork to see what damage the policy covers. Then, talk with your local roofing experts for a fair and reliable repair quote.
Here are some questions you will need to consider as you move forward:
Are You to Blame for the Damage?
Some homeowners don’t take good care of their property. They leave gutters to fill with rotting leaves, pay no mind to missing or cracked shingles, and ignore their home’s exterior until something goes wrong. If your roof shingles are curling, cracked, or covered in mildew and water gets in, you may have your roof insurance claim denied, and you’ll most likely wind up eating the costs.
Conversely, if a hail storm leaves your shingles with cracks, insurance will likely cover replacing them.
Is the Damage an “Exclusion”?
Your policy will contain “exclusions,” explaining all the incidents the company won’t cover. For instance, flood damage requires an additional policy in some places because flooding is so common there.
Is the Cost of Repair Higher than Your Deductible?
The deductible is the amount you’ll have to pay to repair any damage. Typical deductibles run from $500 to $5,000. If the cost to repair the damage is below your deductible, you won’t receive any money from the insurance company if you file a claim. Be sure to get a repair quote before you call your insurance provider when you have roof damage.
Remember, the cost of replacing or repairing items damaged by the leak—including drywall, flooring, furniture, and electronics—should also be included in your claim.
Just Because You Can File an Insurance Claim for Leaking Roof…
Inexperienced homeowners might find it tempting to file a claim whenever their policy will cover the damage. It makes perfect sense and is well within your policy guidelines. The problem is that your insurance company might decide you’re too risky and will terminate your coverage. You don’t have to break any rules to be “fired” by your insurance company.
In addition, any time you file a claim, the cost of your policy will go up. These increases can be significant. It’s not something you can avoid by simply switching companies, either. Multiple companies’ claims are reported to the Comprehensive Loss Underwriting Exchange (CLUE), which insurers check before writing new policies.
Sometimes, whether you should file a claim is much more critical than if you’re able to collect on the damage.
Most insurance experts recommend foregoing filing a claim if the damage is worth less than $5,000. Instead, you can opt for a policy with a higher deductible. This lowers the price you’ll pay for coverage. Put the savings in the bank to pay for minor issues.
Filing more than one weather and non-weather insurance claim for a leaking roof every ten years can risk your coverage.
Talk to our Hopewell Roofing & Restoration experts when deciding whether to file an insurance claim for leaking roof damage. Call us today to receive a free quote for repairs.
