New Roof Guidelines for Homeowners

Due to the increasing numbers of insurance claims as a result of inclement weather, many insurance companies are changing the guidelines by limiting or declining coverage with older or wood roofs.  Beginning this year, some of these guidelines include:

• Composition over Wood Shake Shingles: 
•  no longer insurable
• Composition over Composition:
•  insurable up to 3 layers.  Top layer may be subject to Composition Age Guidelines
• Wood Shake Shingles: 
• 10 years or newer - insurable at full replacement cost with $1000 deductible
• 10-15 years - subject to higher deductibles
• 15+ years - subject to higher deductibles and Actual Cash Value Loss Settlement
• Composition: 
• 20 years or newer - insurable at full replacement cost with $1000 deductible
• 20 years+ - subject to higher deductibles and Actual Cash Value Loss Settlement

If you have any questions regarding your coverage or whether the guidelines have changed on your policy, contact your insurance agent today.

Homeowners Insurance...Are You Covered?

You don't need to be a home insurance expert to make sure everything you own is properly covered.  Take a look at this breakdown and use it as a reference when evaluating your home:

Home Structure:  The price you paid for your home is most likely not going to be the amount it will be insured for.  You'll need to take a look at how much it will cost to rebuild your home...consider the square footage, material costs, and any special features you would like to add.

Personal Property:  Your personal possessions need to be protected also.  Make a list, take pictures, or make a video of all your belongings that would need to be replaced in the event of a disaster.  You may want to consider the replacement cost of these items as well.  Replacement coverage pays based on the current costs to replace that item.

Your Liability:  This helps provide lawsuit protection for bodily injury or property damage that you or your family (or even your pet) may cause...this may include incidents either on or away from your property.  Coverage depends on your policy limits, so I encourage you to talk to your insurance agent.

In addition, there are several optional types of insurance available as well...guest medical insurance, flood insurance, and more.  To see what will be the best fit for you, contact your insurance agent.

Contact Pickett Property Group when you are ready to buy or sell your next home.  We're bringing positive customer experiences back to Real Estate!