What Does Your Homeowners Policy Cover?

Some time ago, maybe many years, you probably sat in your insurance agent’s office and signed a bunch of forms you didn’t fully read. Combined with the similar, even lengthier process when you closed on your house, and the controlled chaos of moving, that whole experience is probably still a blur. Now that you are thinking more clearly, it’s a good time to revisit that homeowner’s policy and remind yourself what levels of coverage you actually have.

Will your insurance company pay to have your roof repaired or replaced if there’s a fire in the attic? How much hail damage does there have to be for a roof to be replaced versus repaired? And how much of the total cost will insurance pay? We get these kinds of questions all the time at Peak Roofing & Construction. Our honest answers often start with “It depends on your policy.”

Homeowners policies are actually combinations of several different kinds of coverage. As a roofing and construction company, we usually focus on the customer’s dwelling coverage, the part that involves damage or destruction to the house itself. Sometimes our work also includes other structures coverage, which includes detached garages and pool houses. Policyholders in Texas typically also get financial protection for:

• • Loss of use. If you have to move out while your home is being repaired, you may be reimbursed for rent and other unexpected expenses.
  • Personal property such as furniture, clothing, and other possessions.
  • Personal liability and medical payments. These come into play when someone else is injured (either physically or financially) by something that is your legal responsibility.

It’s important to know what risks your homeowner’s policy does and doesn’t cover. Let’s use storms in Grapevine or Southlake as an example. Your policy probably covers wind, hail, and lightning damage, but it often doesn’t apply to flooding. The company may pay to help you recover after an explosion, but not an earthquake.

How much of the damage insurance will pay for is largely dependent on deductibles and dollar limits, which I will get into in more detail in my next blog. Fortunately, you don’t have to read all the fine print to find out your details. The first page of your policy is the declarations page. It contains a summary that includes your coverages, dollar limits, and deductibles.

Peak Roofing & Construction professionals are here for customers throughout the process, including helping maximize the amount you are reimbursed under the guidelines of your policy. Call us today for a free inspection.

About Peak Roofing & Construction

Peak Roofing & Construction is family-owned, with 30-years of experience. Bonded, insured, and accredited, we provide roofing, gutter, fence, window, and exterior facelift services. Guaranteed. Call (972) 335-7325 in Dallas-Fort Worth (residential & commercial).