Does Home Insurance Cover Roof Replacement?

If you’re wondering, “does insurance cover roof replacement,” it depends on the circumstance. Home insurance covers damage to items such as your structure and roof if it is damaged by a covered risk. Some policies will identify or exclude specific hazards. If your roof needs to be replaced because of unexpected natural disasters or severe weather other than flooding, it’s probably covered. But if your roof is older or in need of maintenance and repair, homeowners’ standard insurance usually won’t cover roof replacement.

Bank interest insight

  • Older roofs tend to cause more home insurance claims – and the damage is more serious. (RMS)
  • The average lifespan of the most common type of roof (asphalt shingle) is 20 years. (National Association of Home Builders)
  • Replacement of insurance roofs is usually limited or excluded when roofs are 20 years or older. An insurance company may require a roof inspection before insuring a home with an older roof and may only consider the actual cash value in the event of damage.
  • Many homeowners underestimate the age of the roof. Inaccurate roof age costs home insurers $1.14 billion in lost premiums each year. (verisk)

How does roof insurance work?

Roofs can be considered the front line of defense when it comes to keeping your home and its contents safe. This is because they are built to withstand the elements, including sun, wind, freezing temperatures, hail, rain, and more. However, a roof – no matter how well built – weakens over time, making it more vulnerable to damage.

Repairing or replacing a roof can be expensive. Insurance companies will reimburse the damage if it is caused by a covered danger. However, to reduce the risk of a significant damage claim, insurance companies may be hesitant to fully cover an older roof and may even require an inspection to confirm it will withstand the elements.

An insurance company may refuse coverage if the roof is older or shows deferred maintenance. Instead, the carrier may decide to purchase cash value insurance, which will pay only a portion of a claim based on the age and condition of the roof. The Texas Department of Insurance explains how the actual cash value for a roof that costs $10,000 to replace works:

5 year old roof 10 year old roof 20 year old roof
Actual present value of roof $8,500 $7,000 $4,000
Min deductible – $4,000 – $4,000 – $4,000
Policy would pay $4,500 $3,000 $0

Types of roof damage

There are two main types of roof damage in the eyes of an insurance company: damage from a covered loss or wear and tear. For example, if your roof is leaking or damaged by covered losses such as rain, hail, snowstorm, a falling tree branch, wind or fire, the insurance company will usually step in to pay for the repair or replacement up to your coverage. boundaries.

If there is a leak that is not associated with danger due to structural failure, lack of maintenance, or the age of the roof, an insurance company probably won’t cover the cost of repairing the damage or replacing the roof. That’s why it’s important to maintain your roof properly – a defective roof can be expensive and most likely not covered by home insurance.

Keep your roof safe veilig

A roof in good condition can withstand extreme weather conditions and damage better than an older roof. To keep your content in the best condition so it can protect your content for years to come, consider the following maintenance:

  • Schedule a periodic inspection: Hiring a roof inspector to look at your roof every few years can help identify problems early. It is essential to find a reputable inspector you can trust – some roofing companies may argue that there are issues to encourage you to replace your roof.
  • Prune nearby trees: A tree too close to a roof can cause damage in a number of ways. In high winds or ice storms, a tree branch can break, fall on the roof and cause damage to the structure. A tree branch can also rub against the roof for a long time, deteriorating the surface or loosening shingles. It is best to keep trees too close to a trimmed roof and clear of the area.
  • Keep gutters clean: Gutters are designed to carry water – which could be a roof’s worst enemy – away from the roof. If a gutter is filled with leaves or debris clogging the gutter, water can overflow onto the roof, weakening the structure or causing leakage.

I need a new roof, now what?

A new roof is a significant investment. The average cost of replacing a roof is as much as $11,420. Start by looking for a quality, reputable roofing company. Referrals from friends or family can be helpful, but it’s always a good idea to confirm that the business is licensed, affiliated, and insured.

In addition to choosing the right company, the type of material you choose can make a big difference in how long the roof will last. As mentioned, asphalt shingle roofs have an average lifespan of 20 years. Modernize.com claims there are 18 species roof shingles available. Depending on the region you live in, you can opt for:

Clapboard material Replacement Cost Life expectancy (according to the NHBA)
Copper Up to $19,500 More than 50 years
Slate Up to $50,000 More than 50 years
Concrete Up to $24,000 More than 50 years
Clay Up to $50,000 More than 50 years
Asphalt Up to $15,785 20 years
Fiber cement shingles Up to $16,500 25 years
Wood Up to $15.645 30 years

Roof repair versus roof replacement

When deciding to repair or replace your roof, consider the following options:

  • Repair if damage is minor and located in one spot.
  • Replace the roof if the repair is close to replacement.
  • Repair the roof if it is fairly new – 10 years or less.
  • Replace the roof if it is older and you plan to sell your home in the near future.
  • Repair the roof if the mismatched new shingles don’t affect the home’s appeal.

it comes down to

A roof repair or replacement can be one of the most expensive aspects you can face as a homeowner. Your home insurance policy is there to pay for roof damage, but only for covered perils such as damage due to severe weather, falling objects or fire. Your homeowners insurance policy generally does not cover damage or leakage caused by an older or poorly maintained roof. A roof in good condition is more resistant to the harsh elements and unexpected events. That’s why it’s important to stay on top of maintenance to avoid a bigger problem down the road.

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