Is Your Roof Covered Under Homeowners Insurance?

As a homeowner, you must take steps to financially protect your property with homeowners insurance.

For many, their home represents the most expensive and important purchase they ever make.

However, even while appreciating the importance of protecting their investment and taking all responsible steps to maintain their homes, property owners may not be able to prevent all damage.

Roofs can be particularly vulnerable parts of homes, making it necessary for you to understand how homeowners insurance can cover them.

Does Homeowners Insurance Include Roof Coverage?

Yes, standard homeowners insurance policies can help you manage certain losses and damages involving your roof. The dwelling coverage component of your insurance financially protects the structural elements of your home, including its roof, walls, foundations, attached fixtures and plumbing and electrical systems.

Are There Roof Coverage Limitations?

While you may be able to submit a claim for financial assistance following certain incidents, you should also be aware of possible limitations and exclusions. Consider the following scenarios in which you might be on your own when it comes to managing roof-related financial losses:

• Lacking windstorm coverage—In some cases, wind-related losses may be excluded from standard homeowners insurance policies. Unless you secure an endorsement or additional coverage, tornadoes, hurricanes, cyclones and other powerful gusts that damage your roof could leave you facing significant out-of-pocket repair costs.

• Failing to have earthquake coverage—Similarly, earthquakes are generally not included as covered perils in standard homeowners insurance. You’ll need to enhance your insurance portfolio if you want to have access to financial assistance following seismic activity that damages your roof.

• Choosing actual cash value (ACV) coverage—Homeowners insurance policies typically include either ACV or replacement cost coverage. While the latter can offer financial assistance to fully replace parts of your home, such as your roof, the former may be less capable. ACV factors in depreciation. For example, if your roof had a life expectancy of 10 years and was 5 years old when it was destroyed, your payout would likely only pay for half of the cost to replace it.

• Neglecting maintenance—Homeowners insurance doesn’t cover damage due to normal wear and tear or negligence.

We’re Here to Help

At AIC Insurance Agency - Medford, we can help you understand various aspects of roof coverage within your homeowners insurance and ensure you have suitable financial security. Contact us today to learn more.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.