Missouri’s unpredictable severe weather makes it critical for homeowners to better understand a key component of their homeowners policies—roof insurance.

The Missouri Department of Commerce and Insurance (DCI) created a free and unbiased online tool about roof coverage to assist homeowners explore their options before spring storm season arrives.

“It’s really important that consumers know exactly what type of coverage they have or they’re planning to purchase,” says Chlora Lindley-Myers, Director of DCI. “Policies may not cover the replacement cost of your roof--your policy may only cover a depreciated cost, or the actual cash value, to repair or replace your property.”

DCI recommends that consumers check their homeowner’s insurance policy or contact their insurance agent or company to see whether their policy provides replacement cost coverage.

In an insurance claim, the amount deducted for depreciation may be significant, especially if the damaged property was at or near the end of its useful life. For example, if your 20-year-old roof is destroyed by a covered cause of loss and must be replaced, the policy that pays RCV will cover the full cost to replace the roof. However, an ACV policy may pay as little as 20 percent of the cost to replace the roof, since the useful life of a roof is usually about 25 years.  

This DCI service was developed to provide free analysis of the top twenty homeowners insurance companies in the state. If a company is not listed, this comparison shopping form is available to help the shopper ask the right questions and record information as they research options for new coverage or seek to understand their existing coverage.

For more information about homeowners insurance or for assistance with questions or complaints about an insurance company or claim, visit insurance.mo.gov/consumers or call (800) 726-7390.