Homeowners Insurance in Norcross, GA

Is roof remodeling included in my homeowners insurance?

Your home is an integral part of your daily life, providing physical security for you, your family and your belongings. However, your home also represents a significant financial investment that you must protect with appropriate loss control measures. After all, even the most diligent homeowners may be unable to prevent certain incidents, such as natural disasters. With this in mind, understanding and securing suitable home insurance is necessary.

What Does Home Insurance Cover?

Also known as homeowners insurance, these policies can often be tailored to your unique circumstances, including your needs, preferences, budget and risk tolerance. However, in most cases, home insurance policies include the following components:

• Structures coverage may financially protect the physical elements of your home, including its walls, foundations and roof.
• Contents coverage can help you recoup losses involving your possessions, such as furniture and electronics.
• Liability coverage may insulate you from the financial consequences of incidents affecting third parties for which you or other insureds (e.g., spouses, dependents and pets) are at fault.
• Loss-of-use coverage can provide aid for expenses resulting from your home being made temporarily uninhabitable, such as hotel accommodations and storage unit costs.

Does Home Insurance Cover Roofs?

Roofs are an integral part of your home’s structure and are included in the structures coverage component of home insurance policies. Still, coverage may vary. For example, standard home coverage may often exclude earthquakes and hurricanes as covered perils. If such incidents damage your roof, you must have had an appropriate endorsement or separate policy to file a successful claim.

Additionally, the potential payout for roof-related losses may vary depending on whether you have actual cash value or replacement cost coverage in your policy. In the case of the former, depreciation is considered, meaning that if your roof has an anticipated lifespan of 20 years and is already 10 years old, your compensation generally considers wear and tear. Meanwhile, replacement cost coverage may provide a payout amount up to fully funding a new roof.

Does Home Insurance Cover Remodeling?

After purchasing your home, you may wish to make additions, renovations and enhancements over time. However, while these projects are exciting, adding various features, square footage and assessed value to your property may require you to reexamine your insurance coverage. Generally, you should talk to your insurance agent about any remodeling you are planning for your home, as your coverage may need to be adjusted to ensure your policy remains suited to your needs.

Learn More

As a trusted member of the Norcross, Georgia, community, the dedicated team at Vila Financial is ready and able to help local homeowners secure appropriate coverage, including for their roofs and remodeling projects. Contact us today to get started.