As a homeowner, purchasing home insurance is one of the most important steps you can take in proactively protecting your home. Home repairs can be costly, so giving yourself peace of mind that any unforeseen damage will be covered can be a great relief.
However, when it comes to window replacements, it’s crucial that you have a thorough understanding of what your policy covers. Each policy is unique to the homeowner and their requests and needs, so the type of policy you have may influence whether windows are covered.
Let’s explore the factors that impact whether your home insurance will cover your window installation in Calgary.
Determining Whether Home Insurance Will Cover Your Window Replacement
Understand Your Perils
All standard homeowner policies will guarantee coverage against certain risks; these are known as perils. Common perils that homeowner insurance typically covers are vandalism and fire damage. Therefore, if a vandal breaks your window, your homeowner insurance should step up and help you cover the cost of replacing it.
It’s important to remember that the “standard” homeowner policy will differ from region to region. Some cities that experience a higher likelihood of hail damage, for example, may find that insurance companies offer a separate weather-related package. Therefore, when signing up for your policy, it’s crucial that you have an understanding of what your perils include.
Investigate Your Deductibles
Your deductible is the amount you will need to pay out of pocket before your homeowners insurance kicks in to cover the claim. You can determine your deductible when outlining your policy, so you have a say in when your insurance helps you out.
Having a lower deductible can be attractive, as it means you have a greater chance of receiving financial compensation from your insurance. For example, if the damage to your window is $500, it would be helpful if your deductible was $300. This means you would pay up to that $300 threshold, and insurance would cover the last $200.
Meanwhile, if your deductible was $600, insurance would not help cover the cost, as your deductible has not been reached yet. While it can be disappointing to have a higher deductible in the moment, your monthly payments will likely be lower, as you pose a smaller risk to your insurance company.
Replace Your Old Windows
Unless your policy is quite extensive, you will likely not be compensated for simply replacing older windows that let in a draft or have a compromised seal. While replacing old windows offer numerous benefits, including a lower heating bill and a better-protected home, insurance companies do not view this as property damage. Therefore, when it comes to standard window installations in Calgary, you may be on your own financially.
Maximize Your Policy
When it comes time to replace your windows, don’t be afraid to go through your homeowners insurance policy and explore your coverage options. It’s better to do your research than learn later on that money could have been saved during your window installation in Calgary.
Hubbard Roofing & Exteriors is your trusted Calgary roofing company. Since 1985, we have been providing customers with top-quality roofing in Calgary, specializing in roof replacement, siding repair, and roof repairs. As a family operated and owned business, we have established ourselves as a trusted source of high-quality work. When you choose Hubbard Roofing & Exteriors, you are not just a customer; you are part of the family. For a free quote on your roofing in Calgary, call us at 403-995-0677.