When you have a new roof installed, you usually receive a warranty from the manufacturer. While this is good, it often is not enough to take care of your entire roofing structure. The reason for this is because commercial roofing warranties do not equate to insurance and you actually need both of them.
The things and events covered by warranties are not covered by insurance and vice versa. With commercial roofing, you may want to have these two things overlap so you are covered regardless of any incident or issue.
So what is the difference is between insurance and a warranty?
Warranty vs. Insurance
A warranty from the manufacturer basically covers the roofing material. It is a service contract that provides for the repair or replacement of specific roof components if found to be defective within the warranty period. The lengths of warranty periods vary from one manufacturer to another. A commercial roofing company should tell you the length of their warranty in addition to what the manufacturer provides.
On the other hand, insurance coverage is a policy that repairs damage that occurs to your roof from an accident or extreme weather conditions such as strong wind, hail, fire, and other natural disasters.
Repairs Made Under Warranty
Repairs made under warranty are warranty repairs. The cost of labor is part of the warranty coverage. Defective parts are also replaced free of charge under such a guarantee. Of course, all of this depends on the manufacturer. Warranties do not cover lack of proper maintenance or physical damage other than something resulting from a manufacturing defect.
Repairs Through Insurance
Services that are performed through a property owner’s insurance policy are insurance repairs. Roof warranties normally cover only the roof itself, while insurance policies cover the entire building structure. Insurance will cover all or part of the charges for commercial roofing services when repairs are needed. The extent depends on the particulars of the building’s insurance policy.
Roof warranties are part of what the manufacturer provides; however, they are often only available for a limited amount of time. Once the warranty period is over, there is no way to renew it, which is why these type of policies are called limited warranties. Insurance policies can be renewed at the end of each policy period and are valid so long as the premiums are paid.
Even if you have an applicable commercial roofing warranty, you should protect your investment with an insurance policy that covers the entire building. With both a warranty and proper insurance coverage, you will have the protection you need for repairs done by commercial roofing services no matter what happens to your roof!