Protecting your Home with Roofing Insurance
It's always better to be safe than sorry. Purchasing roof insurance can be a great way to protect your home.
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As homeowners, we are vulnerable to accidents every day. When misfortune lands at our doorstep or, in this case, our rooftop, we can be thankful for insurance coverage. There are many options for roofing insurance claims for storm damage. When purchasing insurance, it is always advisable to check with your insurance agent about your policy’s coverage as it relates to roofing insurance claims storm damage.
Defining the Policy
If you live in an area where storms occur frequently, ask your agent to explain what is covered in the event of a loss. For instance, if you live in an area that is known for hurricanes, tornadoes or flooding, these are all factors that could cause major damage. The policy regarding roofing insurance claims for storm damage needs to be clearly defined. At times, there are reports of individuals who suffer extensive storm damage to their home only to learn that their policy did not cover roofing insurance claims for storm damage. There is no doubt that storm damage can cause a lot of problems with your roof, so it’s extremely important to make sure your insurance policy covers any problems that may arise if the unexpected should occur.
When you think about it, our roof is the only thing that protects us from rain, snow, sleet or, in the worst case, a natural disaster. It is expected that, at some point, our roof will need a repair.
Contact an Insurance Agent
If your roof is damaged during a storm, the first thing to do is contact your insurance agent. You will need to ask about their policy regarding the filing of roofing insurance claims for storm damage. Your agent will then advise you in proper procedures and deadlines. Explain to your agent, in detail, exactly what damage was caused and the date of the occurrence. If your roof is leaking, it will need to be repaired or replaced immediately to avoid further damage to the interior of your home. It’s important to inform your agent of any repairs that need to be made without delay. This information is crucial in the processing of roofing insurance claims for storm damage.
After the initial contact with your insurance agent, you should receive a letter or telephone call from their department, which handles roofing insurance claims for storm damage. Following that, an adjuster will likely contact you. In most instances, the adjuster will want to see the damage, take photographs of the loss and will provide the insurance company with an estimate on the cost of repair or replacement. It is not advisable to sign a contract or make any agreements until you hear from your insurance agent. However, the adjuster may provide you with an estimate on the cost to repair any damage that your roof has sustained during a storm.
Finding the Right Professional for the Job
Once you receive an estimate from your insurance company, you may begin the process of contracting the work out to a professional. If you choose to hire a professional, ask them to provide you with a projected cost once they have reviewed the damage. During your initial conversation, explain that the funds will come from your insurance company’s claims department, which handles the payment of roofing insurance claims for storm damage. Provide the projected cost information to your insurance company for processing. Depending on the company’s policy, the funds may be paid upfront or after the job is complete. If the money is held until completion, have an invoice sent to the insurance agent for final payment.
It is important to know that roofing can be a dangerous job. Working at such heights and often in some extreme conditions means that workers are put at risk on a fairly regular basis. If a company is held liable for any injuries or accidents to workers, then without worker’s compensation insurance they may be forced to pay out a large amount of money from their own pockets. For small roofing firms this can lead to financial ruin. Roofing insurance may cost money, but it is a lot cheaper than not having it if you need it.
Types of Roofing Insurance
There are basically two types of article that you should consider using to cover yourself from any accidents or injuries. Workers compensation insurance protects against any injuries to workers whereas public liability insurance covers against similar accidents involving members of the public or property that belongs to someone else.
Workers Compensation Insurance
Workers compensation insurance is one of the two types of roofing insurance that you should seriously consider purchasing. Without it, you are at great risk of being forced to pay large settlements from out of your own pocket. If the worst happens and one of your workers is killed through a work-related accident, this sum can equate to hundreds of thousands of dollars. The only way to avoid this cost is through having workers compensation insurance.
Public Liability Insurance
Public liability insurance is available to virtually anyone who needs it from cat minders to roofers. As far as roofing insurance goes, it is another vital commodity to your business. If a member of the public walks into a piece of scaffolding or a shingle, or you have just fitted falls off the roof and hits a car, you are responsible for paying damages and the cost of any required repairs. In some cases, this damage can amount to very large amounts of money. Comparatively speaking, the monthly premium you will be required to pay is virtually nothing.
Bringing Down the Cost
If you are concerned about the cost of roofing insurance, then you may want to consider joining a buying consortium of some sort or another. If you are already a member of a trade organization, you may find that they have negotiated excellent deals on all aspects of roofing insurance and taking advantage of these deals can save you a lot of time and quite a lot of money.
If you are a consumer looking at having a new roof fitted, then you should always check any potential roofing company to see what forms of roofing insurance they have. You should know that because the price of roofing insurance can be quite high, some roofing firms have now taken to using a general contractor’s insurance policy. If the roofing firm you use causes any accidental damage to your house or anything in or around it, then you can only be sure that you will be covered if they have roofing insurance. Roofing insurance firms will pay out quicker and easier than if you have to rely on the roofing firm themselves to compensate you.