Is my roof covered at replacement cost, or depreciated?
Some policies pay less for roof claims as the roof gets older. In hail country, you want to know which one you have before you need it.
Resources
The Woodlands Insurance Checkup
A short list you can use before we ever talk. If a question stops you, that’s the one to bring me.
Is my home insured for enough to rebuild it?
What your home would sell for isn’t the same as what it would cost to rebuild. Dwelling coverage should reflect today’s construction costs.
What would my deductibles actually cost me?
Many policies have a separate wind and hail deductible, sometimes a percentage of your coverage instead of a flat amount. Know the number before a storm, not after.
Which kinds of water am I actually covered for?
A burst pipe, a backed-up drain or sump, and rising floodwater are three different things. Water backup is often an add-on. Flood usually needs its own policy.
Are my belongings covered at replacement cost or actual cash value?
One pays to replace what you lost. The other pays what it was worth after wear and tear. That difference can be large after a loss.
What to have handy
The declarations page is the first page or two of a policy. It lists the limits, deductibles, and endorsements. A clear photo is enough.
Home
Dwelling limit, roof language if it’s printed there, wind and hail deductible, and any water-backup endorsement.
Auto
Liability limits, uninsured motorist, comprehensive and collision deductibles, and who’s listed as a driver.
Don’t send Social Security numbers, payment cards, or a full application. This site does not accept file uploads. Text a photo of the page to (806) 445-2987, or email it to [email protected].
Three differences that change a claim
Replacement cost and actual cash value
Replacement cost pays to replace an item with something new of similar kind and quality. Actual cash value subtracts for age and wear. On a roof or a living room of furniture, those are very different checks. Your declarations page, or the policy form behind it, says which one you have.
How wind and hail deductibles work
Some policies use a flat deductible for every claim. Many Texas homeowners policies use a different, larger deductible when the damage is from wind or hail, often a percentage of the dwelling limit. One percent of a $600,000 dwelling is not the $1,000 number people remember from the quote. The review is where we turn that percentage into a dollar amount.
Water damage, water backup, and flood
A pipe that bursts inside the house is often a homeowners claim. Water that backs up through a drain or sump is often excluded unless you added that coverage. Water that rises from outside and enters the house is flood, and flood is its own policy. If someone tells you “you’re covered for water,” ask which of the three they mean.
Have an insurance question?
Ask your neighbor.Tell me what you have. I’ll give you an honest opinion, including if you should leave it alone.