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Insurers want the state Legislature to let them cover only the depreciated value of your older roof, rather than full replacement value. Fannie Mae and Freddie Mac, which back most home loans, say that's not allowed. More and more insurers are offering it as an option, but you might have it and not know. That could be an expensive oversight.
![Check your insurance policy: It may cost you thousands to replace your storm-damaged roof [South Florida Sun-Sentinel] - Vimarsana News](https://insurancenewsnet.com/wp-content/uploads/2021/04/inn-og-default.jpg)
Will your home insurance policy pay to fully replace your roof if it’ s damaged in a hailstorm, a tornado, a fire, or by a falling tree branch during a summer thunderstorm? Or does your policy cover only your roof’ s depreciated value, leaving you on the hook to pay thousands— perhaps tens of thousands of dollars— if you suddenly need a new one? A recently filed state Senate...
Will your home insurance policy pay to fully replace your roof if it’ s damaged in a hailstorm, a tornado, a fire, or by a falling tree branch during a summer thunderstorm? Or does your policy cover only your roof’ s depreciated value, leaving you on the hook to pay thousands— perhaps tens of thousands of dollars— if you suddenly need a new one? A recently filed state Senate...
That had built his house out of straw. one day a big bad wolf huffed and he puffed and blew the house down. luckily the geico insurance agency had helped the pig with homeowners insurance. he had replacement cost coverage, so his house was rebuilt, good as new. the big bad wolf now has a job on a wind farm. call geico and see how easy it is to switch and save on homeowners insurance.
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