Will Home Insurance Cover A New Roof?
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaA homeowner’s policy covers damage caused by a covered peril. The loss to a roof is covered when it is the result of a fire, for example. It is not covered if it is the result of age and deterioration as those aren’t covered perils. When a roof is adjusted for a damage loss, many companies treat a roof on a cash value basis. This is because the life of the roof is shorter than the life of the remainder of the building. So if a roof is half way through its life and suffers a covered loss, it is likely to be covered to 50% of the cost of replacing the roof.Answered on September 22, 2014flag this answer
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