Replacing a damaged roof is pretty expensive, so it's nice to know that your insurance company will replace it if it's damaged. Here are some of the measures to take to ensure this is the case:
Ensure the Roof is Properly Maintained
Your insurance company doesn't want to pay for a new roof because you forgot to keep it clean and the debris hastened its death. No, they don't want to shelve out their hard-earned cash for a sparkling new roof because it has been hosting a small lake (from rain and melting snow) for some time. Your insurance company only wants to pay for a new roof if the old one is accidentally damaged, say by a freak storm or fire, and not due to lack of maintenance. Therefore, maintain your roof like the valuable asset it is and your home insurance company will follow suit.
Buy Separate Coverage for Excluded Risks
Insurance companies sometimes exclude certain risks from their standard policies. Sometimes this is because a particular risk is too common in your area and the insurance company would be compelled to file for bankruptcy if it covered the said risk. Maybe your neighborhood has experienced multiple wildfires, plus associated damage, within the last year or so, do you expect your standard policy to replace your roof if it burns down? In such a case, the best thing to do is to buy a separate cover against fire for complete protection.
Use the Right Roofing Materials
The material used in the construction of your roof also determines whether your home insurance company will replace it. Basically, your insurance company will not be impressed if your roofing material is extremely expensive or extremely delicate, and with good reason. For example, having multiple layers of shingles increases the risk of roofing damage or collapse.
Buy a Replacement Policy
Lastly, you should also choose the right policy for your home if you want the insurance company to replace your roof if it's damaged. You may not know this, but there are two major forms of home insurance coverage: actual cash value (ACV) and replacement cost value (RCV). The first option compensates you the actual value of the roof just before it was damaged while the second option is the one that will actually replace your roof to the same pre-damage condition or with a comparable roof. So, if your roof was worth $5,000 just before the damage, but replacing it requires $6,000, an ACV will entitle you to $5,000 while an RCV will give you $6,000.
To learn more, contact an insurance company and agent like State Farm Insurance: Kurt Riehl.
