Morris County Roofers: Article About Roofing Insurance Basics
Homeowner's insurance and roofing insurance can help a homeowner with the costs of roof repairs and replacements, but it will not always cover everything. Depending on the type of policy that someone has, certain damage may not be paid for. Additionally, even if something is covered by an insurance company, it may not cover 100 percent of repair or replacement costs.
There are a number of factors that go into determining a homeowner's insurance premium and the type of coverage that is available to them, including the age of their roof, the materials of the roof and common causes of roof damage in an area. Roofs that are older are more likely to need frequent visits from Morris county roofers for repairs, and they are more likely to need replacements in the near future. Therefore, insurance policies that provide complete coverage for older roofs are often most costly than the time and labor costs involved in installing a new roof.
The type of roofing material that someone has is also often a factor in determining a premium. Asphalt shingles last about two to three decades, but tile and slate roofs can last a lifetime. Therefore, someone with an asphalt roof may pay higher premiums because the insurance company may expect to have to pay to replace it at some point.
The roofing contractors from Peter W Smith Construction of Morris County NJ would be happy to answer any questions you have about siding repair or roof replacement.
Insurance companies are also in the habit of charging more for coverage for common causes of roof damage in an area, and, in some cases, they may refuse to provide it. People who live in areas where wildfires or hurricanes are common will frequently find that insurance costs are much higher if they elect to add this type of coverage.
If someone files an insurance claim, they are not necessarily guaranteed that repair or replacement costs will be totally paid for. Some companies use a prorated system, which reduces the amount of money paid out for a roof replacement based on the age of a roof. Replacing a new roof may be covered at 100 percent, but a roof that is 10 years old may only be covered up to half of the costs of putting it in.
Due to this, it is important that claims are filed as soon as problems are noticed. If someone delays putting in a claim, and water soaks past the roof deck into support structures during their delay, their out of pocket costs could go up dramatically if the insurance company only covers a percentage of repairs.