Is Damage to My Roof Covered
Roofs Covered:
Broad Form (HO-2) - Yes
Special Form (HO-3) - Yes
Contents Broad Form (HO-4) - No
Unit-Owners Form (HO-6) - Yes
Renewals only effective 5.20.18
Underwriting Restriction:
Yes (HO-4 N/A)
Roofing Details:
Risks having the following exposure characteristics/conditions are ineligible (HO-4 N/A): Any dwelling with a roof covering of asbestos shingles, T-lock shingles or an overlay (e.g. i.e. asphalt, fiberglass or composition shingles over wood shakes or wood shingles) roof. Any dwelling having a wood shake or wood shingle roof and the policy does not meet the following criteria: Age of Roof less than 15 Years: Quantum Home_ACV Roof endorsement and minimum $1500 Wind/Hail or AOP Deductible. Quantum HVH_Minimum $1,500 Wind/Hail or AOP Deductible. Age of Roof greater than 15 years: Quantum Home_ACV Roof endorsement and minimum $1,500 Wind/Hail or AOP Deductible. Quantum HVH_Refer to underwriting for review.
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
Damage to roofs are subject to the policy's all peril, earthquake, or wind hail deductible, depending on the cause of loss. (HO-4 N/A)
Flat Dollar or Percentage
Flat dollar and/or percentage, depending on the peril, please see below. (HO-4 N/A)
Deductible Amount Options
Damage to roofs are subject to the policy's all peril, earthquake, or wind hail deductible, depending on the cause of loss. All Peril Deductible: Flat dollar amount of $1,500 min. and $50,000 max.; Percentage deductible amount of 1% min. and 2% max. Earthquake Deductible: Percentage deductible of 10% min. and 25% max. Wind Hail Deductible: Flat dollar amount of $1,500 min. and $5,000 max.; Percentage deductible of 1% min. and 10% max. HO-4 N/A
Company Determined Deduct
N/A
How Will My Claim Be Calculated
RCV, ACV OR FRC:
Our policy provides for Replacement Cost Value for roof damage unless the customer has elected Actual Cash Value or Functional Replacement Cost. (HO-4 N/A)
Options Determined by:
The settlement option is automatically determined by the product unless the customer has elected Actual Cash Value or Functional Replacement Cost. (HO-4 N/A)
Criteria For Settlement:
N/A
Any Other Exclusions or Limitations
Our policy does contain additional loss settlement provisions that would impact claims settlements for roof damage. The following sections outline those provisions: HO-2: Section 1 - Condition item 3. Loss Settlement on pages 13 & 14 HO-3: Section 1 - Condition item 3. Loss Settlement on pages 15 & 16 HO-6: Section 1 - Conditions item 3. Loss Settlement on pages 13 & 15