Roof Coverage Allstate

Allstate s arch rival bloomington based state farm insurance cos.

Roof coverage allstate.

Roofs are a particularly big ticket cost for property insurers. Commonly covered perils include fire wind and hail damage so if your roof needs repairs after it is damaged by hail or by a tree that topples onto it during a windstorm you may find that your dwelling coverage helps cover the cost. Allstate recently announced a new product that will impact rates its customers pay for homeowners insurance if they want their roofs repaired. The new house home coverage option will no longer cover the full cost of replacing damaged roofs if they re older than 10 years.

This means you will get a percentage of the replacement cost based on the roof s material and age. Fyi allstate launched this new policy in oklahoma in october of 2012 yes some of the tornado victims are going to be victimized twice with this type of policy. The base policy provides a percentage of replacement cost for roof surfaces damage caused by windstorm or hail. Allstate roof coverage an attempt to increase profits.

Replacement value is provided for other perils. According to the oklahoma filing the base policy provides actual cash value coverage for roof damage due to wind and hail perils. Allstate has raised homeowners rates in most states in response. With actual cash value protection there may be a deduction for depreciation in any claim payment and your out of pocket expenses for repairing or replacing your roof surface may be higher.

A jury reached a 1 5 million verdict in favor of a texas couple who sued allstate for failing to disclose a cosmetic roof exclusion in their policy. Allstate s house home program will pay the actual cash value of a roof that needs to be replaced if it s older than 10 years. 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. Repair coverage usually takes into consideration depreciation of the roof.

Replacement coverage provides for returning the roof to a brand new condition when an event that is covered by the insurance policy takes place. Eventually allstate customers with roofs more than 10 years old won t have the full cost of new roofs covered under their home insurance policies.