With the hottest hurricane season behind us and hurricane season just a few months away, policyholders and new homeowners want to know “does homeowners insurance cover roof leaks” along with the other series of questions. We get it, 2020 is tough and 2021 looks a lot like 2020 twins. We’re here to answer some of the most frequently asked questions about homeowners insurance policies.
We hope the information we provide helps you feel confident knowing how and when your contract comes into effect and what you can do to keep your home up to date. Knowing the difference can help keep you from getting stuck in a situation where your policy doesn’t cover it because it could be prevented. Let’s start with the basics.
What is homeowner’s insurance and why do I need it?
Homeowner’s insurance is a package policy that combines multiple coverages in a single policy and applies to most single-family homes. A standard homeowner’s insurance policy includes:
Housing insurance: Damage payments to your home in the event of a covered loss.
Personal property insurance: Covers your belongings, such as furniture, clothing or electronics, in the event of a covered loss.
Personal liability insurance: Payment for legal damages is given to third parties when you are found liable for bodily injury or damage to their property while they are on your property.
Inability to: Reimbursement of living expenses incurred if you are unable to live in your home due to a covered loss.
Medical payment: Help pay medical bills incurred by visitors to your home, people who are injured while on your premises, or as a result of your personal activities.
Your policy may have additional coverage added based on your individual needs.
So, does Homeowner’s Insurance cover roof leaks?
Your insurance policy will cover repair of a leaky roof caused by covered perils, such as hurricanes, hail, etc. (unless your policy has exclusions). If the roof leaks due to poor maintenance or general wear and tear, it will not be covered.
You should inspect your roof twice a year, once in the fall and once in the spring. Inspecting your roof before hurricane season can be a saving grace. It will help prevent minor roof damage from leading to serious problems that can cause leaks and damage to the interior of the building.
Does homeowners insurance cover broken pipes?
Homeowners insurance will usually cover damage if a pipe burst occurs suddenly and unforeseeable. However, some policies exclude water damage coverage (make sure you know what coverage you have.) Remember there is a difference between sudden damage and inadequate maintenance.
Regular maintenance can prevent pipe breakage. Homeowners must ensure that they are checking the plumbing regularly. If there is a leak in the pipes and the homeowner does not follow proper maintenance procedures, the damage will not be covered.
Does homeowner’s insurance cover tree cutting?
Your homeowner’s insurance may cover tree felling depending on what caused the tree to fall and where it fell. If a tree falls and damages a structure, homeowner’s insurance usually covers the damage and removal up to a certain amount.
Will Homeowner’s Insurance Replace My Water Heater?
Typically, a homeowner’s insurance policy will only replace a damaged water heater if it is damaged by a covered peril, such as a fire or natural disaster.
However, if the water heater explodes suddenly and causes water damage, water damage may be covered. The water heater will not be warranted or replaced if it is damaged. We strongly recommend purchasing extended warranties on expensive home appliances to protect the appliance itself.
Does Homeowners Insurance have Mold Coverage?
Homeowner’s insurance may cover mold if caused by an insured peril. An insurance policy will usually cover mold removal, repair, and cleanup.
Mold growth or flood damage will most likely be covered under a separate flood insurance policy.
Great lesson
It is important that homeowners insurance policies cover unforeseen events. However, the homeowner is responsible for the general upkeep and upkeep of the home. Sometimes a little money spent throughout the year can save you thousands of dollars and a catastrophic event. If you’re not sure what your next step should be, your agent will always help guide you and answer any questions.
Many policyholders may have received notices of increased coverage rates across the country. We understand many people are confused and frustrated with the new changes in the insurance industry. To help give some perspective and provide context around the numbers, we recommend reading our blog. 4 Main Reasons Why Your Homeowners Insurance Premium Increased.
