Wind Damage To Roof

[Badger]

North Texas is known for it's hailstorms and I guess the insurance companies are getting hit too much with claims due to frequent storms. We just received our renewal policy notification in the mail and the insurance company is doing away with replacement cost coverage for roofing and going to actual cash value coverage. This now means in addition to the deductible which for my policy is 2%, I would now be hit with depreciation which would be 20% of the roof cost for a 10 yo roof. Maybe time to shop for another insurer, unless they are all doing likewise.

It would be worth the effort to carefully read the policy to see if the coverage includes labor cost in addition to the shingle replacement. Labor is more than likely a greater expense than the shingle.


Cheers!

 

[eytonxav]

It would be worth the effort to carefully read the policy to see if the coverage includes labor cost in addition to the shingle replacement. Labor is more than likely a greater expense than the shingle.


Cheers!

Yes, labor is included.

 

[MichaelB]

Insurers here in South Florida have been changing coverage terms for the past 3 years. They’re being challenged by consumer groups but Citizens, the state run
“Insurer of last resort” is moving ahead. In this case it’s against non-weather related water damage. The insurers claim general deterioration should not be compensated and are both limiting total payouts and requiring repairs to be made by insurer approved contractors. They have become very aggressive documenting the condition of insured properties.