Imagine a storm hits, and before you know it, you hear a dreaded drip, drip, drip from somewhere in your home. Upon investing further, you notice leaking water coming from your ceiling, which could only mean one thing: you've got a leaky roof. If you have insurance, you may be wondering if home insurance covers roof leaks. Stick around to find out.
What is homeowners insurance?
Homeowners insurance is a special type of coverage specifically designed to protect your property and investment from a variety of covered perils. In a standard home insurance plan, you will find the following policies:
Property damage coverage
Property damage insurance is meant to protect the physical structure of your home and other additional dwellings on your property from specific damages. Common covered perils include fire damage, hail damage, fallen tree branches, and certain natural disasters.
So, what is specifically excluded from standard home insurance? Homeowners can expect pest damage, mould damage, flooding, earthquakes, general wear and tear, and faulty workmanship to not be included in their coverage.
Personal liability coverage
The second portion of home insurance is liability coverage. With liability insurance, you are protected in the event someone injures themselves on your property or if you cause property damage to a third party. Should a lawsuit be filed against you, home insurance companies will cover the cost of medical bills, repairs, replacements, legal fees, and other associated expenses.
Will my insurance company cover roof leaks?
So, will your insurance cover roof leaks? Generally speaking, yes, if the roof damage was caused by an unexpected and unavoidable event. For example, your roof is badly damaged following a major storm that knocked a tree onto it, causing damaged shingles, broken pipes, and other issues. However, roof leaks that are caused by the following will not be considered a covered peril:
- You have an old roof that has missing shingles and a slow leak that has gotten progressively worse over time.
- Normal wear and tear.
- Lack of maintenance over the years.
To prevent roof leaks and other damage in their home, homeowners should book home inspections and have their roofs inspected regularly, as preventative home insurance claims will not be compensated. Consider working with a professional company to have a winter-proof roof to prevent roof leaks during the colder months of the year when periods of heavy rainfall and snow are common.
Will my homeowner's insurance policy cover the cost of a roof replacement?
Major problems can stem from roof leaks that go unnoticed and un-repaired for long. If you have roof leaks at your home, you may be wondering if my insurance covers roof replacement or repairs. The truth is, it all depends on the type of roof coverage you have and the specifics of your policy:
Actual cash value coverage
Actual cash value coverage will cover your roof replacement, but not all of it. Why is this so? With actual cash value, your provider will reduce your compensation as it considers depreciation. Therefore, the amount you receive from your insurer will be based on how old your current roof is and its value.
For example, let's say 30 years ago, you purchased a new roof for your home that has an average 30-year lifespan. Fast forward 20 years, and you now need a roof replacement as a result of unexpected damage that occurred as a result of a covered peril in your homeowner's insurance plan.
Now, let's say you have actual cash value coverage with your company. In this case, your insurer will deduct 2/3 of the value off your roof because it is already 20 years old. By doing so, you'll really only be compensated for 1/3 of the total value of what you originally paid for your roof all those years ago. And as you can probably guess, the amount you receive will be nowhere close to what it will cost to replace your roof.
Replacement cost coverage
Suppose your home coverage has a replacement cost policy. With a replacement cost policy, your insurer will cover roof leaks and compensate you for the current value of your roof without taking into consideration any depreciation. This means that your replacement roof will be covered fully, up to your coverage limits, so you won't have to pay any money out of your own pocket to have your roof replaced.
What should I do if I have a roof leak?
So, you've discovered a roof leak in your home and want to file a claim with your company. To ensure that your claim is processed as smoothly as possible, here's what you need to do:
Confirm your homeowner's insurance policies cover roof leaks
Before reaching out to your insurance provider, we recommend that you review your home insurance policy to confirm whether the event that caused the roof damage is considered a covered peril. Remember, homeowners' policies only cover damage that is unexpected and unpreventable rather than gradual wear.
Contact your homeowner's insurance company right away
Once you've confirmed that your policy will cover roof leaks, you can go ahead and contact your insurance provider. During this phone call, an insurance agent will ask you a series of questions regarding the incident and how the roof leak occurred in the first place.
Document the damage caused to your home
Now, when it comes to your roof leak, you're going to want to document evidence of the damage. We recommend that homeowners take as many photos and videos as possible. The more evidence you have when you file a claim, the quicker and more likely your insurance will cover the repair costs or your roof replacement, depending on the fine print of your policy.
Have a contractor investigate the damage
During your claim process, your adjuster may send over their own contractor to investigate and evaluate the damage to your roof. Once the contractor has visited your home, they will compare their findings to the evidence you provided them.
Undergo a roof repair
Once your claim has been approved, you can repair the damage to your roof. In some scenarios, you'll be able to bill your insurance company directly for the costs.
Get your homeowner's insurance claim compensated
Now that your roof is fixed, your insurance company will compensate you for the repairs and other costs associated with your claims either through a direct deposit or a certified cheque in the mail.
Looking for affordable home insurance? Contact BrokerLink today!
Whether you need home insurance advice, are looking to rent out a space on your property and need landlord insurance, interested in high-value home insurance, or need to file a personal insurance claim, the experienced brokers from BrokerLink are here to help guide you through every step in your insurance journey.
With locations all over Canada, BrokerLink is a well-known and trusted source for all things insurance-related. To work with one of our brokers, don't hesitate to come visit us in person if we're in your neighbourhood! You can also reach us over the phone during business hours! In a rush? Don't panic. You can get a competitive insurance quote right from home using our online quote tool--it's that easy!
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FAQs about whether home insurance covers roof leaks
Does house insurance cover ceilings?
Yes, your homeowner's insurance policies will cover damages to your ceilings if the damage itself occurred as a result of a sudden and unexpected covered event that is listed in your policy. For example, if your ceilings are damaged due to a fire, severe weather conditions, vandalism, or other perils, then you can file a claim and receive compensation from your insurance provider.
Is it worth filing a claim with my home insurance company?
It really depends on the extent of damage caused to your home and how much the repair costs will be. While minor damage may be worth repairing on your own in an effort to avoid a premium increase in the future, other types of damage, whether it be a leaky roof, fallen tree, or another insured event that costs thousands of dollars to fix should be claimed under your current coverage.
Your homeowner's insurance is there to assist you in protecting your finances in the event you need to file a claim. By not filing for certain damages, you could be doing more harm than good to your overall financial health. You must also consider your deductible, if the damage is less than your deductible, your policy will not offer coverage unless the damage exceeds your deductible as you are responsible to pay it before the insurance policy offers coverage for damages.
How much is homeowners insurance?
The average home insurance cost in Canada is approximately $1000 annually. However, like all insurance out there, the cost you'll pay for coverage will vary based on numerous factors such as the coverage limits you choose, where your home is located, the current value of your property, the current condition of your home, your previous claims history, and more.
Therefore, if you're interested in purchasing a home insurance policy for your house, we recommend reaching out to different providers to compare quotes and coverage options. That way, you'll be able to find coverage that meets your unique needs and budget.
How can I save on my insurance premiums?
If the cost of homeowners insurance is something you're concerned about, there are ways you can save money on your premiums. One way is to look into insurance bundles. If you already have auto insurance and other types of coverage with an insurance company, bundling your home insurance with these existing policies can give you a bit of a discount. Speaking of discounts, there are often promotions available for those who instal security cameras on their property and instal other safety features. So, don't be afraid to ask an agent or broker if you qualify for any. You may also want to take a look at your coverage limits. Depending on your home inventory and how much your belongings cost, you may be able to lower your limits and save a bit of cash. Just keep in mind that this may not be the best option and should only be used if you feel comfortable doing so.
Is homeowners insurance mandatory in Canada?
No, home insurance coverage is not mandatory in Canada. However, it's highly recommended. Your home is an investment, and in order to protect your interests and finances, having a homeowners insurance policy in place can give you the peace of mind you need, knowing you and your personal belongings are protected against an unexpected and accidental event. Without coverage, you could be responsible for paying the cost of repairs, replacements, and any third-party injury claims that may be filed against you, which could put you in a severe financial loss. Like all types of insurance, having coverage is like a security blanket that is often worth the added monthly expense just in case.
Should I call a broker if I have roof damage?
Yes, you should call a broker if you have roof damage. So, how exactly can a broker help? Brokers are insurance experts, so they can help you answer any questions or concerns you may have regarding your home policy. A broker can also take a look at your current insurance and determine whether your damaged roof is covered by your policy before getting you in touch with your provider so you can start your claims process.
Do I need a police report to file under my home insurance?
Whether or not a police report is required for a claim depends on the scenario at hand. For example, if your home was broken into, someone injured themself on your property, or extensive property damage has occurred, calling the police and getting a copy of the police report can benefit you. Police reports are accurate descriptions of what took place and can help you during your insurance claims process. And in certain circumstances, like when a crime has been committed, you will be legally required to contact law enforcement.
If you have any questions, contact one of our local branches.
