If your roof is leaking, you may be wondering if your insurance will cover the damage. There are a variety of factors that will determine whether your roof leak damage claim will be successful. In certain cases, it may even be better for you to not file an insurance claim for your roof leak damage. Let us take a look at some of the factors below.
Did the damage to your roof result from negligence?
It is not uncommon for homeowners to be less than diligent about their home maintenance. Most people lead busy lifestyles and home maintenance just does not fall into their list of priorities. Unfortunately, this means that they may leave minor damages to the exterior of their house unattended for too long. If you have roof shingles that are cracked, missing or covered in mildew and water leaks into your home as a result of that, your roof leak damage claim will likely be unsuccessful.
However, if the damage to your roof was not a result of negligence, such as in the case of a hailstorm, there is a high chance that your claim will be successful.
Is the incident that caused the roof damage excluded under your insurance policy?
All insurance policies come with exclusion clauses that list the kinds of incidents that the insurance company will not cover under the policy. For example, in areas where earthquakes are a common occurrence, basic homeowner’s insurance policies would not cover damage resulting from earthquakes and an additional policy would be required to receive earthquake damage coverage. Sometimes, it is more worth it not to file an insurance claim. Let us explore some of these scenarios below.
When the cost of repairsis less than your deductible
Before you receive any compensation from your insurance company, you need to pay a deductible. Deductibles typically range from $500 to $5,000. In the event that the cost of repairs is less the deductible, you will not get any money from your insurance companyif you file a claim. That is why it is important to get a quote for the cost of repairs before you contact your insurance provider. Note that you can include other items damaged in the roof leak, such as flooring, drywall, furniture, and electronics, into the cost of repairs as well.
When you don’t want your insurance premiums to go up
Each time you make an insurance claim, your insurance premiums go up. Sometimes, the increase can be significant, especially if you have made several claims in the past. This means that although you may receive coverage for the roof leak damage, it may not be worth it in the long run as you pay the increased premiums. As a general rule of thumb, it is recommended to only file an insurance claim for damages worth less than $5,000. Another risk of making too many insurance claims is that your insurance provider may view you as too big of a risk and terminate your coverage. It is best not to file more than one weather and one non-weather insurance claim for roof leak damage in a decade.
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