How Roof Damage Claims Affect Home Owner’s Insurance
If you find yourself in the position of having damage to your roof, your 1st notion might be to file a claim with your insurance company. Nevertheless, you should not do so immediately. Filing a claim may have an impact on your policy, so you must be very certain before you proceed.
Begin by examining your policy to recognize what is covered and just what your obligation is. Then have the roof examined by an experienced professional. If the estimated repairs aren’t going to cost much more than your deductible, it is undoubtedly best to pay out-of-pocket. There is a limitation to the amount of insurance claims that you are allowed to make in a given period of time without affecting your premiums or even voiding your policy. Multiple claims within the exact same year are a large red flag to an insurance company.
Also talking to the insurance company may lead to a report to the Comprehensive Loss Underwriting Exchange, which maintains an “insurance score” for homeowners. This score impacts your ability to be approved for brand-new coverage with the same or different insurer. This is yet another reason not to call the insurance company till you make sure you want to make a claim.
If the damage has resulted from wind or hail, this is thought of as an Act of God and should not affect your insurance rates. Earthquake and flood damage, however, are not typically covered. Additional circumstances which are under your control, such as damage from low-hanging tree branches which could have been trimmed, might impact your policy. Usually, the first claim on a policy does not impact the premiums, either.
Claims might be denied if you are not up to date on your premiums or if you have actually failed to maintain the home satisfactorily. Termite damages, mold, and faulty plumbing which has been neglected are not covered by most policies.
If you do choose to file a claim, you should have your roofing contractor present when the insurance adjuster examines your home. The roofing company can easily help to ensure that you get the complete settlement to which you are entitled. The insurance company will naturally try to get away with paying as little as possible.
It is very important to understand your home owners insurance coverage policy and what is and is not covered, in addition to what your deductibles are. If you have a roofing misfortune, consider carefully prior to making a claim. To be safe, have the damages totally assessed and obtain a quote on the repair prior to making any type of contact with your insurance company.