Is Damage to My Roof Covered
Roofs Covered:
Yes
Underwriting Restriction:
No
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
There is not a separate deductible for roof damage. Roof damage is subject to either the all peril deductible or a separate wind/hail deductible, if the policyholder chooses to have a separate wind/hail deductible.
Flat Dollar or Percentage
N/A
Deductible Amount Options
N/A
Company Determined Deduct
N/A
How Will My Claim Be Calculated
RCV, ACV OR FRC:
The FSPH product offers both replacement cost value and actual cash value coverages.
Options Determined by:
The policyholder chooses their preferred settlement option. The Company may require ACV based on the condition of the roof.
Criteria For Settlement:
ACV may be required if the roof is adequately protecting the dwelling, but is beyond its expected lifespan or shows signs of minor wear and tear (e.g. granular loss, minor lifting, shrinkage, etc.).
Any Other Exclusions or Limitations
Depreciation of Labor - see Farmers Smart Plan Home Policy - Missouri Definitions 1 on page 4. Marring to metal roof component exclusion - see Farmers Smart Plan Home Policy - Missouri, Section I - Uninsured Loss or Damage and Excluded Causes of Loss or Damage - A. Uninsured Types of Loss or Damage 8 & 14(b)(1) and (2) on page(s) 21- 22. Marring to metal roof component coverage may be purchased for additional premium. Limitations of matching - see Farmers Smart Plan Home Policy - Missouri, Section I-Extensions of Coverage 16a. Limited Matching Coverage for Vinyl or Aluminum Siding and Roof Materials for Composition Shingle Roofs. Pages 20-21. Effective 8/13/2018, MO064 Amendatory Endorsement #16 Limited Matching Coverage for Vinyl or Aluminum Siding and Roof Materials for Composition Shingle Roofs. Section I - Property Conditions, 5. How We Settle Covered Loss, item c.(1)iii on page 30. Limited Matching Coverage for Roof Materials may be purchased for additional premium.