Do I have the right Home insurance and roof coverage?

April 26, 2017

Will the entire roof be replaced by hail damage or will I only get partial replacement coverage?

The answer depends on who you bought your home insurance from and in the next several years many homeowners are going to find out that they will only get partial replacement coverage on their roof when the next hail/wind storm hits. That means you could only get about $3000 on a $20,000 roof claim. Ouch! Ouch! Ouch!

Home insurance in the DFW area has changed dramatically over the last 27 years that I have been an Insurance Agent. It used to be automatic that you had full replacement coverage on your roof from all the companies. Not anymore! Many companies such as Allstate, Farmers, State Farm, and Progressive/ASI Lloyds are only giving you ACV/depreciated coverage or Actual Cash Value when you need a roof replacement. Our agency recently switched a family from Frisco, Tx because she only got $3000 for her ACV coverage roof from Progressive. The customer was not aware or told when they bought the policy that their coverage on the roof was not full replacement coverage. After paying out of her pocket $17,000 for a new roof, the customer wanted a new agent. She did not want a 1-800 agent or an agent that did not tell her all the facts about ACV roof coverage in the policy. She wanted someone with a proven track record of helping customers with their home & auto Insurance needs and making sure that they get the coverage they expect.

That is what Matt Lohoefer Insurance has been doing for 27 years in the DFW area. We give homeowners honest straight forward answers and full coverage with full replacement cost on the roof.

These recent ACV roof coverage policies have come from big companies like Allstate, Farmers, State Farm and Progressive. These companies are selling home insurance coverage with ACV endorsements on the roof so when you have a roof claim you do not get replacement coverage but you get depreciated/ACV coverage. This policy is also cheaper than a full replacement coverage policy.

The old saying of “you get what you pay for” has never been truer today in the world of home insurance. Yes we all want to pay less for home insurance but do we really want to get almost no coverage on a roof claim? I don’t think so.
Next time you want to shop for home insurance rates give us a call at 972 964 0113 or visit our website for complete replacement coverage on your roof and no surprises when you have a claim. Thanks for reading: Matt Lohoefer Insurance home of “Better Coverage and Better Prices” Your local Independent Insurance agent since 1990.