Most home insurance policies cover roof replacement if the damage is the result of an act of nature or a sudden accident. How roof coverage works - Preventing roof problems. If your policy is an RCV policy, your insurance company will pay the replacement cost value of your roof at the time of a covered loss. This means the replacement cost value minus your deductible.
Under the RCV valuation method there is no deduction for depreciation. If you are wondering whether insurance covers roof replacement, it depends on the circumstances. A homeowner's insurance policy covers damage to things like your structure and roof if they are damaged by a covered peril. Some policies name or exclude specific perils.
If your roof needs to be replaced due to unexpected acts of nature or severe weather other than flooding, it is likely to be covered. But if your roof is old or requires maintenance and repairs, standard homeowner's insurance usually does not reimburse for roof replacement. A damaged roof that is 10 years old will probably be covered for full replacement. A roof 20 years old or older may only result in the insurer reimbursing you for what an old roof was worth at the time of damage, after decades of wear and tear.
Repair coverage usually takes into account the depreciation of the roof. This means that you will get a percentage of the replacement cost based on the material and age of the roof. It can be as low as 15 percent or a roof at the end of its useful life. The surveyor will go to the roof, assess the damage, determine what is covered and what is not covered in the roof claim and give you a quote to provide to the contractor.
A roof repair or replacement can be one of the most expensive things you can face as a homeowner. A typical homeowner's comprehensive insurance policy covers your roof and the cost of replacing it if it is damaged. This means they don't give you enough money to get your roof back to the way it was before the storm. But never one to shy away from being helpful, I want to educate everyone on the process of getting your storm-damaged roof replaced through homeowners insurance.
For example, if your roof leaks or suffers damage due to covered losses such as rain, hail, snowstorm, falling tree limb, wind or fire, the insurance company will usually step in to pay for repair or replacement up to the limits of their coverage. If your roof claim is approved, you can begin working with your chosen contractors to complete the installation of your new roof. For example, if you have slate shingles that you can no longer get, you may need to replace the entire roof to ensure the materials match. The Bill Ragan Roofing team has been doing insurance repairs and replacements in the Nashville area for over 30 years.
Your best ally in a roof repair fight (if that's what it comes down to) will be a licensed roofing contractor, not a lawyer.