New, energy-efficient windows are a great option if you’re thinking about home improvement. In many states, you might even qualify for tax deductions because these windows have properties that can help reduce your carbon footprint.
Energy-efficient windows help make your home more comfortable as they reduce air leaks. This can help you reduce your energy consumption, as your HVAC doesn’t have to work as hard to maintain a comfortable indoor temperature.
But what if your window breaks? Will you have to cover the cost of repairs on your own or will your homeowners insurance policy cover it? Here are some facts about insurance that will help you understand when your windows are covered.
Open-Peril vs. Named-Peril Insurance
A named-peril policy covers anything specifically listed in the policy. If your energy efficient doors and windows are listed, then your insurance is likely to cover the cost of repairs or replacement. However, you have to be sure to read the fine print to understand the conditions.
An open-peril policy is a better choice because you have a higher chance of being covered if your windows are damaged. Again, check the fine print for conditions.
Cause of Damage
There are qualifying conditions for insurance claims, and the cause of damage is one of them. Windows damaged during a hailstorm, for example, are likely to be covered by both open-peril and named-peril policies. But if your kids are playing catch indoors and accidentally break the window, the insurance provider is not likely to cover the damage. This is why you should read the fine print on your insurance policy.
Deductible
Some repairs you’ll have to shoulder, because your insurance specifies amounts that they would cover. You’ll have to pay out of pocket until your deductible is met. For example, if the cost to repair a broken window is low, and you have a high deductible insurance policy (which comes with lower premiums to attract homeowners), you’ll still end up shouldering the repair costs, even if window damage is covered in your policy.
Maintenance Responsibility
Insurance policies are given with the understanding that you will be responsible for the maintenance of your home. So if your window breaks during a hailstorm, repairs might be covered, but if your problem is a leaking window because you didn’t maintain the seals, that’s on you.
Rate Increase
This has to do with administrative costs. Large or small claims entail the same administrative expenses. If you file a claim for a broken window and it’s relatively a small claim, your insurer might process it, but this might also lead to rate increases.
Get in touch with Universal Roofing & Exteriors to learn more about window insurance. We offer doors and windows installation, roofing and other services. Call us today at (317) 257-0779 or use this form to get your free quote. We work with customers in Indianapolis, IN.
