Whether your roof has recently suffered from storm damage, a fire, or any other unexpected act of nature, you’re probably wondering if your home insurance policy will cover the cost of a new roof. The good news is that most policies will help you out if your home has been affected by an event outside of your control. However, every homeowners insurance policy differs, so it’s important to understand the fine print of your policy and speak with your coverage provider to discuss any questions.
5 Common Insurance Roof Replacement Questions
1. How much does it cost to replace a roof?
The average cost of roof replacement varies over time and location. However, once labor and materials become part of the picture, the average price of a new roof is about $15,000 in Middle Tennessee. Thankfully, home insurance companies typically cover some to all replacement costs for damaged roofs, depending on your policy, the extent of the damage, and the age of your roof.
2. Do I need to schedule a roof inspection?
Yes, it is very important to schedule a roof inspection prior to filing an insurance claim. Our certified roof inspectors can determine whether your roof damage is claim-worthy, or if it just needs a small repair that can be applied to your deductible. We only advise filing an insurance claim if we feel confident that your insurance company will pay to replace the entire roof. You can do this for free by reaching out to our roofing contractors in Nashville, TN for a Signature 5 Point Inspection.
3. Will my homeowners insurance premium increase if I file a claim?
When filing a homeowners insurance claim for roof damage, the last thing you want to worry about is your insurance rate going up. Many people fear they’ll be required to pay more after filing a home insurance claim, but this isn’t the case. It is possible for premiums to be higher in areas with frequent severe weather, but simply filing for a roof replacement does not affect your premium. Also, keep in mind that you should reach out to your home insurance company as soon as possible after experiencing roof damage. We also recommend taking pictures of the destruction and keeping any reports from your inspection.
4. Will my insurance cover my older roof?
This is a tricky question and the answer depends on your insurance policy. Technically, your roof claim can’t be denied because your roof is old – it either has storm damage or it doesn’t. In fact, it can be advantageous to have an older roof because it can’t properly be repaired, and the insurance company will have to pay for a full roof replacement. The caveat here is that it depends on your policy. Replacement Cost Value vs. Actual Cash Value policies differ. If you have a Replacement Cost Value policy, your home insurance company will owe for a full replacement. However, if you have an Actual Cash Value policy, they owe for a full roof replacement but will depreciate the amount that you get paid.
5. Do I need to install a tarp on my damaged roof?
If your roof has damages, you should consider tarping it for several reasons. First, you want to protect you and your household. Also, your home insurance company will expect you to prevent further damage to the interior and exterior of your home. Not doing so is risky, especially if severe weather or heavy rain is in the forecast. Without taking extra precautions to protect your roof, it’s possible that your home insurance company may not help cover the cost of a new one.
Get in Touch With Us for A Free Roof Inspection
If your roof has recently undergone damage, Five Points Roofing can help. Make sure to reach out to us today to schedule your free roof inspection. If you need a new roof, our team of HAAG certified roofers can install a beautiful, new shingle or metal roof for your home. Contact us to learn more about your roof replacement options!