Roof Damage Coverage

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SPEAKER: When it comes to homeowners insurance, equipping your roof with the right insurance coverage can help you avoid costly damage.

So before your roof is hit with windstorm or hail damage, make sure you understand your roof coverage.

Let's take a look at your options.

There are two types of coverages available for roof replacement-- replacement cost value, RCV, and actual cash value, ACV.

Replacement cost value is the amount it would cost to replace your roof today, meaning we will reimburse you for the full amount to repair or replace your roof, minus your deductible.

If your roof is eligible based on age and type, you can opt to have roof replacement cost value coverage for wind storm and hail damage.

Actual cash value is what your roof is worth today, taking in consideration things like its age, condition, and type of roofing material.

So what does a ACV mean for you?

Most likely a gap will exist between what it costs to repair or replace your roof versus the amount your insurance company will actually compensate you for after a covered loss.

The result-- money out of your own pocket.

That's why considering RCV coverage for wind storm and hail damage is a smart decision.

This coverage ensures you'll be adequately covered, and that gap won't exist if you file a claim.

Remember, if your roof is well-maintained, you'll typically have RCV coverage for damages caused by most other covered losses such as fire, fallen trees, leaks, and ice dams.

Have questions about your roof coverage? Contact your American Family Insurance agent for more information.