Is Damage to My Roof Covered
Roofs Covered:
Yes
Underwriting Restriction:
Yes
Roofing Details:
Qualified metal roofs may receive an Impact Resistant Roof discount if cosmetic hail damage is excluded.
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
Policy - All Peril Deductible
Flat Dollar or Percentage
N/A
Deductible Amount Options
1/2% ($1,000 min), 1% ($1,000 min), 2%, 3%, 4%, 5%
Company Determined Deduct
Roof damage is subject to the policy's all peril deductible. Certain roofing construction or materials may require a minimum 2% all peril policy deductible.
How Will My Claim Be Calculated
RCV, ACV OR FRC:
Replacement Cost Value (A1 - Replacement Cost - Similar Construction, or A2 - Replacement Cost - Common Construction) The policy provides replacement cost coverage for covered roof losses. An initial actual cash value payment is made until the damaged part of the roof is repaired or replaced. Once the actual work is completed, the policyholder receives an additional replacement cost payment. Optional Endorsement (wind/hail losses) - For a premium reduction, policyholders can limit the claim payment to a percentage of the roof's replacement cost based on a pre-determined payment schedule.
Options Determined by:
The settlement option (A1 or A2) is based upon the dwelling coverage limit selected by the policyholder in relation to the estimated replacement cost of the home.
Criteria For Settlement:
If the dwelling is insured to at least 80% of its estimated replacement cost, A1 is provided. If the dwelling is insured for less than 80% of the estimated replacement cost, A2 is provided. Homes with unique construction features may be limited to A2 loss settlement.
Any Other Exclusions or Limitations
Additional details are provided in the Homeowners Policy under Section I - Loss Settlement, Coverage A Dwelling, items 1 and 2, and under Definitions, item 1.