Many factors can cause homeowners to have to undertake roofing, siding, foundation and other essential repairs. These include age, storms, accidents and natural disasters. If the expense is significant, people are forced to use their savings, seek a home improvement loan, rely on credit cards or dip into an emergency fund—though studies have shown only slightly more than one-third of Americans would have enough to cover even a $1,000 emergency. But what about insurance? This can be a grey area and while coverage is possible, there may be conditions.
Some homeowners’ insurance policies won’t pay to replace or repair a roof that’s gradually deteriorating due to wear-and-tear or neglect. Older roofs can have limited coverage, if any. To ensure approval of your claim, keep records of repairs, before-and-after photos, and reports from inspections.
“It really depends on the kind of coverage you have and if there are any exclusions,” said Gloria Olko of Bilodeau Insurance in Brunswick and Lewiston, Maine. “While most policies don’t have roof exclusions, it’s always best to check with your insurance company.”
