Facing roof damage may be scary for many homeowners. Everyone knows that roof damage may lead to a significant repair bill. But the problem is that not every homeowner understands how their home insurance works, and it can be a great help in financing your roof restoration. Here’s some essential details about insurance that will help you understand your home insurance a bit more.
Is roof insurance a part of your home insurance?
Yes, that is correct. Roof insurance is a part of your home insurance policy and serves to cover repairs to any roof damage happened due to a specifically defined in your insurance policy event, such as natural cause, vandalism, etc.It also pays for your roof restoration insurance claims.
How is your insurance premium defined?
Many factors are taken into account when your insurance company identifies the insurance premium that you pay. The type of your roof matters because it all comes down to the risk of damage and the potential cost of roof restoration insurance claims. It’s important for a homeowner to be upfront about the type of their roofing so the insurance company covering it. They need to understand that they are equipped and prepared to address any damage and approve roof restoration insurance claims when needed. Moreover, when it comes to roof restoration insurance claims, you always have to pay an excess on a roof insurance claim. That means that you won’t get 100% of the cost of the repairs covered. You can set the size of the excess you will pay when signing your insurance policy; the higher it is, the cheaper the insurance premium will be, but in the case of filing roof replacement insurance claims, you have to make a bigger contribution towards the repair cost.
Do you need to obtain roof insurance?
Typically, all insurers include roof insurance as part of their home insurance policies so you don’t need to buy roof insurance separately. Although, if you need to cover a non-standard roof, many home insurance policies will give you a standard policy but possibly with different terms and conditions related to the roof. There’re also insurance companies that specialize in insuring buildings with thatched, flat or other unusual types of roof, such as rubber or green roofs. You need to always provide honest and accurate information about your roof to an insurance company to avoid any risks of the policy become invalid or your roof restoration insurance claims denied.
