The damage caused by a leaky roof can be extensive, so don’t put off repairing or replacing your aging roof. Some insurance companies offer coverage for roof leaks only under certain circumstances, so you may end up footing most of the costs.
Almost every homeowner realizes how important a roof is for protecting their home and family. It acts as a shield from snow, wind, rain, and extreme heat or cold. But, a worn or damaged roof can be a homeowner’s worst nightmare.
In addition to avoiding the costly and annoying consequences of a leaky roof, here are 5 more reasons why it’s a good idea to replace it sooner rather than later.
Benefits of Replacing an Aging, Leaky Roof
Aside from protecting your family and all of your possessions, a stable roof has several other benefits. Here are 5 good reasons why you should replace your aging roof.
Increases Your Home’s Resale Value
Will you be selling your home soon? If so, adding a new roof will increase your home’s value. People who are interested in buying a home pay close attention to the condition of the roof. They don’t want to be stuck with the high cost of replacing it themselves.
Furthermore, a new roof improves your home’s curb appeal. Whether you intend to sell or just want your home to appeal to the eye, replacing the roof gives your home a fresh new look.
Boosts Your Home’s Energy Efficiency
If your home’s roof is 15 or 20 years old, replacing it will improve the energy efficiency of the home. Since your original roof was installed, roofing technology has advanced significantly. Today’s roofing materials are manufactured with an emphasis on longevity. Composite shingles, built-up roofing (BUR), and standing-seam metal roofs are a few examples. They are more effective at controlling how much heat comes in or goes out of the top of your home, thereby reducing your energy costs.
Provides a New Warranty
When you install a new roof, you’ll get a new warranty as well. A warranty will cover such things as shingle defects and other common problems which gives you a little more peace of mind. Be sure you understand what the warranty does and does not cover.
Helps You Maintain Homeowners Insurance Coverage
Most insurance companies don’t offer coverage for leaky roofs over 20 years old. Furthermore, insurance companies don’t cover repairs on a roof that has deteriorated through wear and tear or neglect. But, with a new roof, you’ll improve the chances of getting compensation for unexpected damages.
Improve the Air Quality in Your Home
When an aging roof develops small leaks, the moisture can cause mold and mildew problems. Inhaling mold spores can be hazardous to your family’s health. Not to mention the unpleasant odors it causes throughout the house. Also, mold can be difficult and expensive to eradicate. So, for your family’s protection, replacing the roof is a wise decision.
Do You Have Coverage for Roof Leaks?
Depending on the cause of the roof leak, your insurance may or may not cover the damage. For instance, accidental damage from a fallen tree or storm is typically covered. However, leaks caused by neglect or old age may not be covered.
Typical roof leaks covered by homeowners insurance include:
- Shingles that were blown off by strong winds
- A tree falls on the roof during a storm
- Large hailstones puncture the shingles
- A fire caused by an electrical issue damages your roof
Your roof is covered under the Dwelling Coverage section of your homeowners policy. This means the roof is covered unless otherwise excluded.
Roof damage generally excluded by insurance:
- Flooding, unless you have flood insurance
- Mold or mildew damage
- Landslides, sinkholes, landslides
- Damage caused by animals
- Defective materials or faulty workmanship
- Normal wear and tear
If you’re not sure about your policy’s coverage for roof leaks, contact your agent or provider. You never know when a sudden storm or other weather conditions will damage your roof. Prepare now to avoid unexpected and expensive roof repair or replacement.
Does Homeowners Insurance Cover Roof Replacement?
If your roof is damaged beyond repair, will your insurance company pay for a replacement? It depends on what type of policy you have. For instance, actual cash value (ACV) and replacement cost insurance policies differ in the way they pay out for roof replacement. With ACV policies, the insurer will deduct roof depreciation from your payout. But, if you have replacement cost insurance, the insurer will pay the full cost to replace a roof that was damaged by a covered peril.
How to Find Insurance Coverage for Roof Leaks
Homeowners in South Carolina are no strangers to powerful, damaging weather. Especially this time of year when hurricanes are common. So, you should obtain adequate homeowners insurance before your home suffers an unexpected loss.
If you need homeowners insurance or want to upgrade your existing policy, contact Sandifer Insurance Agency. We offer a full range of insurance services to help you protect your home, family, business, and valuable possessions. Our family-owned company has served customers in Cheraw and surrounding areas for over 40 years. We are committed to helping you get the best insurance at affordable rates.
Reach out to us today by phone, email, or online for a free quote.
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