Home insurance makes many common repairs more affordable. After paying for a policy for years, it is nice to know that you can expect to cash in during times when you need financial assistance the most. Many people use their home insurance to cover window repairs after a major storm or another form of an unexpected disaster. Insurance companies also prefer to provide coverage for window repairs and replacements since they help to protect the rest of your property by keeping precipitation from coming inside.
Trying to figure out what your home insurance policy covers can get confusing. Yet, it is essential to help you to get your home’s windows replaced quickly and for the best price possible. Learning more about when home insurance will or will not cover window replacement is the first step toward figuring out your best financial options for handling the cost.
Understand the Difference Between Named-Peril Versus Open-Peril Policies
Insurance policies generally cover replacements in situations where the damage is caused by a natural occurrence. For instance, you can expect the policy to cover the replacement of the window broke due to high winds that tossed debris at the glass. However, your policy might not cover damage from negligence, such as you accidentally hitting the window while you were working outside.
In most cases, home insurance policies break down into two categories that give you a start on figuring out what yours covers. A named-peril policy tends to outline exactly which types of events qualify for coverage. It may list that your insurance will not cover acts of vandalism or home accidents, or it might say that it does. Reading your policy carefully can help you understand which types of damage causes are covered. An open-peril policy tends to have broader coverage. Although these policies tend to cost more than a named-peril type, you are more likely to be able to use your home insurance for replacing a window.
Get an Accurate Professional Quote
The majority of home insurance policies will require you to file a claim when you are seeking coverage for repairing damage to your home’s windows. To do so, you will need to get an accurate quote from a reputable window installation company that your insurance company accepts as providing quality services. Your quote should include things such as how many windows need to be replaced along with the style of window that you are planning to have installed. The insurance company can use this quote to help you understand how much might be covered.
Check the Deductible
Your insurance policy should also have some form of deductible that you need to pay before the coverage fully kicks in. Many homeowners choose a high deductible policy to help save on their premiums. If you went this route, then the deductible that you must pay may exceed the cost of replacing a single window. In this case, you wouldn’t need to use the insurance at all. You may also choose to pay the deductible and have the insurance cover the rest if you have large or multiple windows that need replacement.
Find Ways to Cover the Costs That Insurance Doesn’t Pay
Even with a good insurance policy, you may still need to find ways to manage your portion of the window installation costs. For significant projects, you can choose to work with a company that offers financing options that come with benefits such as being able to put zero money down potentially. This might be an option to explore if the need to replace your home’s windows was unexpected or particularly costly. Being able to make payments can make the cost for repairs more manageable while allowing you to immediately begin to enjoy the benefits of having quality windows in place on your home.
Every window replacement project should begin with a consultation that lets you know exactly what the job entails. With a quote in hand, you can begin working with your insurance company to find out their responsibility for covering the cost. Whether they cover the whole replacement or just a portion, you’ll find that it helps you get the best window for your home.