Roof Surface Payment Schedule

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

Roof surface payment schedule.

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. When the roof surface endorsement is added to a policy damage caused by wind or hail will be settled based on two key factors. 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. Getting a new roof is a good time to check your insulation.

Proper insulation helps keep heat from escaping through your roof. Roof surface endorsement will be added to. A composition roof five years old would be paid at 85 with a ten years old compo sition roof paid at 70. The difference is depreciation.

As you can see in the above example doe will receive 14 000 from his insurance company whereas smith will receive only 4 000. Monday sep 24 2018 1 months ago. The base policy coverage contains a roof surface payment schedule that calculates a percentage that will apply to all roof surface components and installation in cluding the applicable overhead prof it labor taxes and fees associated with replacement of the roof surface s. The terms of the policy apply except as changed by this endorsement.

Roof surface payment schedule. 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. This means your hvac system won t have to work overtime to. The older the roof the more deducted for depreciation.

Our payment of loss guest medical protection. 4 000 insurance payment 14 000 insurance payment. After cleaning the surface under the shingle and the seal strip. The percentage of payment made is determined by the roof surface payment schedule the chart is provided in this document for reference.