Roof Payment Schedule Endorsement

Mortgagees listed in order of precedence.

Roof payment schedule endorsement.

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. Roof surface payment schedule. 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. 1 the age of the roof and 2 the type of material used to cover the roof surface.

Sample bank home mortgage po box 0001 anytown st 60001 0000. 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. Factors which differ by premium component age of roof and predominant roof surface material type are applied to a policy s variable premium when this endorsement is not purchased. The roof surfaces extended coverage endorsement can be purchased to extend coverage to replacement cost.

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. Whether they will pay for damage caused by win rain or hail is determined by your policy. This cost saving endorsement reduces coverage by paying a specified percentage of the cost to repair or replace a roof when damage is caused by.

The percentage of payment made is determined by the roof surface payment schedule the chart is provided in this document for reference. And or hail damage to your roof surface. Quipment breakdown coverage can pay to repair or replace household e appliances e g tvs washers dryers and equipment e g furnaces hot water heaters damaged from unexpected mechanical or electrical failure. 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.

Claims will be handled by the travelers boiler machinery claim team and do not impact the policy premium. Allstate house home roof surcharge hikes customer costs. 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. To see the roof surface payment schedule click here.

After cleaning the surface under the shingle and the seal strip. Roof systems payment schedule for windstorm or hail losses. Our payment of loss guest medical protection.