Homes in British Columbia usually have insurance covering their home against material and labor-related construction flaws. Most times, the insurance also covers structural flaws in the building and, of course, flaws associated with roofing. Generally, British Columbia is known for providing the strongest construction defect insurance in Canada.

The Insurance Corporation of British Columbia is a corporation that provides insurance. According to the law, British Columbia’s insurance must cover assets registered in British Columbia.

To this effect, the BC Homeowner Protection and Regulations Act guides the building of homes. This Act requires that all new homes be covered by home warranty insurance unless the Act or its regulations have excluded them.

Understanding BC Roofing Warranties 

Many homeowners tend to be confused by the terms of what a warranty covers and what it does not. For instance, some homeowners tend to assume that being covered by a 15-year BC roof warranty means everything that has to do with their roof installation will be insured for 15 years.

However, it only sometimes works that way. Most times, a warranty only covers the costs of the roofing materials and doesn’t cover labor or any other expenses incurred in removing and replacing damaged items.

Furthermore, it is important to note that roofing insurance falls under two categories. These categories include:

• The manufacturer’s warranty on the roofing product
• The contractor’s workmanship warranty. This covers the installation of the roof.

General Terms To Understand

This section will explain some terms that can help you better understand BC roof insurance and the associated parties.

·       Licensing and Consumer Services, a branch of BC Housing

The Licensing and Consumer Services department usually regulate the Homeowner Protection Act, ensuring that Licensed Residential Builders get warranty insurance as stipulated by the Act.

·       Limited warranty

A limited warranty is a warranty with restrictions on the parts, the types of damage it covers, and/or the time it is valid as an agreement.

·       Labour

In warranty, the term labor refers to the time and effort required to remove and restore damaged components. The initial installation is not always part of the labor insurance.

Leaks that result from poor workmanship during the first installation may not be covered by “labor.”

·       BC Financial Services Authority

The BC Financial Services Authority (BCFSA) is a government agency that oversees all insurance providers in British Columbia. The BCFSA can look into insurance providers’ business activities and take appropriate corrective action where necessary.

It cannot, however, order insurance firms to reverse their judgments regarding claim-related issues or resolve coverage disputes.

·       Workmanship

The most crucial warranty condition every property owners need to understand is the workmanship term. Workmanship refers to a contractor’s first installation of roofing materials.”

Any warranty that covers workmanship will cover any manufacturing flaws in the shingles or incorrect installations for a certain period under the workmanship warranty provided by the shingle manufacturer.

·       Prorated warranty

A prorated warranty loses value with time. It only sometimes covers the entire roof repair or replacement cost. It simply pays out a portion of the replacement cost, which decreases throughout the guarantee.

·       Non-prorated warranty

Unlike the prorated warranty, the non-prorated warranty remains effective for the warranty period. It remains the same value as the roof ages.

For example,  a non-prorated 30-year shingle warranty means that the shingle maker guarantees the shingles to be free of flaws for 30 years. This does not necessarily imply that the installation or the shingles will last for 30 years. It simply means that their defect-free status is guaranteed.

 

How Your Roof’s Age May Impact Your BC Insurance

Insurance covers new roofs, and those new roofs can also qualify you for a discount. Why? Any insurance company will base its premiums on risk. The less likely your roof will leak, ruin your house, or deteriorate, the better. This typically results in cheaper insurance premiums. So, if you’ve been wondering, a new roof will reduce your insurance costs. There’s a good chance of getting a discount because you have a new roof.

With time, it is normal for your roof to have experienced numerous seasons and potential weather-related events. These events may have tampered with the integrity of your roof’s materials. As a result, there is a greater chance of damage, which will probably result in higher insurance rates. Some homeowners insurance providers may even stop offering coverage if your roof becomes too old. Unless you make significant repairs from your pocket first, you may not get insurance coverage for the roof.

 

Conclusion 

Depending on the firm and the roofing material you choose, the conditions of BC roofing insurance may vary. You should always request a copy of the warranty you are getting before you agree to it. Study it properly and understand its exclusions and restrictions.

If you need a BC roofing business that can provide you with as many warranty options as possible, you can contact us at Shorelineroofing. Call our roof specialists at (250) 413-7967 to arrange for an evaluation.