Roof Surface Payment Schedule

As you can see in the above example doe will receive 14 000 from his insurance company whereas smith will receive only 4 000.

Roof surface payment schedule.

If the roof needs to be replaced due to hail or wind damage a replacement cost policy pays the amount it costs to replace the roof with a new one of the same quality less the wind hail deductible. The percentage of payment made is determined by the roof surface payment schedule the chart is provided in this document for reference. Monday sep 24 2018 1 months ago. Thanks to a long lasting upgrade and strong curb appeal your home will go up in value and that new roof will practically pay for itself.

Getting a new roof is a good time to check your insulation. Roof in years class3or4 impact resistant synthetic plastic or architectural composition shingles allother composition orsolar shingles wood shinglesor shakes metal shinglesor panels concrete tile fiber cementtile orclaytile slate built uptar withor without gravel rubber membrane orotherflat roofsurface allother roofsurface types 0 100 100. The difference is depreciation. The older the roof the more deducted for depreciation.

Our payment of loss guest medical protection. When the roof surface endorsement is added to a policy damage caused by wind or hail will be settled based on two key factors. Roof surface endorsement will be added to. The terms of the policy apply except as changed by this endorsement.

For example a 200 000 home with a 1 wind hail deductible 2 000 and costs 10 000 to replace will pay 8 000 to replace the roof with. Roof surface payment schedule. The base policy coverage contains a roof surface payment schedule that calculates a percentage that will apply to all roof surface components and installation in cluding the applicable overhead prof it labor taxes and fees associated with replacement of the roof surface s. Whether they will pay for damage caused by win rain or hail is determined by your policy.

If a storm destroys it and you have actual cash value roof coverage that depreciates the roof s value by 1 000 per year your out of pocket share of the cost for a new roof would be 11 000. A composition roof five years old would be paid at 85 with a ten years old compo sition roof paid at 70. Proper insulation helps keep heat from escaping through your roof. 1 the age of the roof and 2 the type of material used to cover the roof surface.