Is Damage to My Roof Covered
Roofs Covered:
Homeowners
Underwriting Restriction:
Yes
Roofing Details:
N/A
What Will I Have to Pay?
(My Out of Pocket)
Your deductible. A deductible is the part (or amount) of the claim you're responsible for. Insurance companies will deduct this amount from any claim settlement amounts they pay to you or on your behalf. So if your insurance policy has a $1,000 deductible, that means you've agreed to pay $1,000 out of your pocket for the damage to your home.
A deductible can be either a specific dollar amount or a percentage of the total amount of insurance. There are special deductibles that apply to certain types of claims; some deductibles are applied to specific parts of your home, like your roof. You can learn about the deductibles for your policy by looking at the declarations page or the front page of your homeowners' insurance policies.
Deductible - Policy or Specific
N/A
Flat Dollar or Percentage
N/A
Deductible Amount Options
Flat Dollar and Percentage of AOI
Company Determined Deduct
All Peril Deductible: 100, 100 w/250 theft, 250, 500, 1000, 2500, 5000
Wind/Hail: .1%, .2%, .5%, 500, 1000, 2000, 5000
How Will My Claim Be Calculated
RCV, ACV OR FRC:
N/A
Options Determined by:
All wood roofs use Actual Cost Value as the loss settlement option. All other roof types use Replacement Cost Value as the default but customers may instead opt for Functional Replacement Cost (FMHO 1147 04 09). All roofs will be settled at Actual Cost Value if they are 11 or more years old (FMHO 3325).
Criteria For Settlement:
Wood roofs: The settlement option is determined by the company based on the construction of the roof. All other roof types: The settlement option is automatically determined by the policy (Replacement Cost Value). After age 11, the settlement option is determined by the company based on the age of the roof.
Any Other Exclusions or Limitations
Wood roofs: ACV All other roof types age 11+: ACV