Why Does My Home Insurance Policy Only Replace Part Of My Roof
If you live here in our town of Shreveport, Louisiana, you know the storms that blow through from spring to fall can wreak full havoc on roofs. You don’t want surprises when time to make a claim. That can happen when it comes to partial roof replacement coverage.
But many property owners don’t know that their homeowners policy may not cover the full replacement cost of a roof repairs (which tends to cost quite a bit)?
Imagine filing a roofing claim, paying your deductible, and finding out you won’t have a full replacement.
That adds insult to your roof’s injury in a hurry.
We explain what causes this and more importantly, how to challenge it!
What Factors Determine the Extent of Roof Replacement Covered by Homeowners Insurance?
There are several factors, in addition to your insurance agent, that determine the extent of roof replacement coverage limits on your homeowner’s policy.
Common Factors
- Whether a covered peril caused the damage or from neglect
- The age of your roof
- The type of damage sustained
- The amount of coverage you have purchased
The type of damage sustained proves an important factor in determining the extent of coverage available.
A covered peril like hail damage or wind damage will qualify for replacement cost and warrant insurance companies to pay for the cost of repairs. On the other hand, if the damage results from neglect or lack of maintenance, this might not prove the case.
These all play a role in whether or not your policy will cover the full cost of replacing your entire roof.
Your home and roof’s age both prove important to consider when looking at the amount of coverage your homeowner’s insurance policy provides for replacement.
An older roof makes it less likely that your insurance policy will cover the full cost of replacing it.
Because an older roof will have more likely sustained damage from wear and tear over time, your policy may not cover it.
The amount of coverage you have purchased can determine how much of your roof’s replacement or repair costs the insurance companies provide.
Other Factors
It is important to consider other factors when determining the extent of roof replacement covered by your homeowner’s insurance policy.
- The type of roof you have, the quality of materials used in its construction, and the amount of maintenance you perform may all influence how much coverage you can expect from your policy.
- The type of roof you have is an important consideration. Different materials require different levels of maintenance, and the age of your roof can play a role in how much coverage you may be able to get.
- The quality of materials used in construction and the amount of maintenance you perform will also influence how much your insurance carrier covers your roof’s replacement costs.
When it comes to the cost of replacing your roof, there are a few other things you should consider. Your geographical location can have an impact on the amount of coverage available for roof replacement.
In certain areas, such as coastal regions, hurricanes and other severe weather events are more common, which can significantly increase the cost of replacing a roof.
Additionally, if your home has certain features or upgrades, such as a metal roof or solar panels, this can also increase the cost of replacing your roof.
The types of roof damage can play a factor when it comes to roof damage. What your insurance company considers as cosmetic damages, such as denting gutters (which may look terrible but not change how they function), may not get covered by your policy.
If you purchased a basic, standard home insurance policy, it is likely that only a portion of your roof’s replacement costs get covered, known as partial replacement.
What is the Scope of the Roof Replacement?
Home insurance companies want to make money and pay out the least possible, so of course, they continue to seek ways to lower claim costs in order to remain financially stable.
What a beneficial business strategy for them!
One way they try to recoup the costs of claim payouts includes implementing a 50% roof replacement policy if only one side of the primary slope is affected by hail damage.
Through this measure, they could manage costs while providing coverage for existing damage and precautionary measures against further damage.
Imagine living in Shreveport, making a roofing claim, having a partial repair on your roof and noticing two distinct colors when viewed from different directions.
How Storm Damage Coverage Helps
However, if you have purchased additional coverage, such as storm damage insurance coverage, you may be able to get more coverage for the cost of replacing your roof.
The scope of roof replacement depends on the extent of damage sustained and the type of coverage purchased.
In general, basic homeowners’ insurance policies will only cover a portion of the cost of replacing a roof. This is because it typically doesn’t cover wear and tear or damage caused by neglect or lack of maintenance of the entire roof.
However, if you have purchased additional coverage, such as storm damage insurance, you may be able to get more coverage for the cost of replacing your roof.
When it comes to the extent of roof replacement covered by homeowners’ insurance, it is important to understand what factors are at play. The age of your roof, the type of damage sustained, and the amount of coverage you have purchased all play a role in determining how much damage your insurance carrier will cover.
In addition, the scope of roof replacement can also vary depending on whether or not you purchased additional coverage, such as storm damage insurance.
What are the Options for Homeowners in This Situation?
For Louisiana homeowners in this situation, there are a few options that can help to reduce the cost of roof replacement.
Additional Coverage
First, homeowners should look into purchasing additional coverage via additional endorsement for replacement cost coverage, such as storm damage insurance, which may be able to provide more coverage for the cost of replacing their roof.
Additionally, many Louisiana homeowners may also be eligible for assistance through the Federal Emergency Management Agency (FEMA), which can help cover the costs associated with repairing or replacing certain types of damage caused by severe storms, e.g., hurricane damage.
Finally, Louisiana homeowners should also consider taking steps to protect their roof from future damage, such as having regular inspections and performing routine maintenance.
Materials and Labor
Homeowners should also consider what type of materials and features a roof replacement includes. Certain materials, such as metal roofs or solar panels, can be more expensive to replace and may require higher levels of coverage.
In addition to considering the cost of materials and features, homeowners should also factor in the labor costs associated with roof replacement. In most cases, labor costs can account for a significant portion of the total cost of replacing a roof.
Labor costs vary from region to region depending on the complexity of the job and availability of skilled workers. Homeowners should research local contractors or roofers who specialize in their specific type of roof to determine the estimated cost of labor for their project.
Maintenance
Additionally, it is important to make sure that your roof is properly maintained and inspected on a regular basis to ensure that no damage has gone unnoticed.
One way to minimize the cost of roof replacement is to ensure that your roof is properly maintained and inspected regularly. Proper maintenance can help to prevent future damage and extend the life of your roof. Additionally, it is important to consider the type of materials used in construction when replacing a roof, as some materials may be more expensive than others.
Finally, homeowners should also review their existing homeowner’s insurance coverage policy and determine if additional coverage is needed for the cost of replacing their roof. Home insurance policies typically cover a portion of the cost to repair or replace a roof; however, some policies may offer additional coverage options that can help to reduce the financial burden associated with replacing a roof.
Homeowners should always discuss their insurance needs with their provider to ensure they are adequately covered for the cost of replacement materials, labor and other associated costs.
Contact us over here at Watley Insurance Group.
As an independent insurance agency primarily serving Shreveport, Bossier City, Benton, Barksdale Air Force Base, Haughton, Keithville, and Blanchard, we have access to provide homeowners insurance policy solutions from many insurance companies to our Ark-La-Tex friends and neighbors.
We can help find the best fit for you!
