What is the best homeowners insurance for roof replacement?
Short answer. The best homeowners insurance for roof replacement is a policy that settles the roof at replacement cost, has no roof payment schedule or cosmetic exclusion, uses a deductible you can pay, and includes ordinance or law coverage. Those terms, not the company name, decide whether a storm leaves you with a new roof or a large bill.
Where each feature hides in the policy
- Replacement cost on the roof. Check the loss settlement section and any endorsement with "roof" or "roof surfaces" in its title.
- No payment schedule. A roof surface payment schedule pays a shrinking percentage as the roof ages. Insurers commonly add it as a roof gets older.
- Deductible. The declarations page lists the all other perils deductible and any separate wind or hail deductible, flat or percentage.
- Ordinance or law. Usually a percentage of the dwelling limit. It pays for items local code requires during the replacement.
- Matching. Policy wording and insurer practice on matching vary; ask how the carrier handles a partial loss where new shingles will not match. See matching.
Trade offs worth knowing
Full replacement cost on an older roof costs more, and some carriers will not offer it past a certain roof age. Raising the all other perils deductible can offset the premium without touching roof coverage. Impact rated shingles may earn a credit with some carriers.
Ask your agent four questions
- Is my roof covered at replacement cost today, and will that change at a certain age?
- Is there a separate wind or hail deductible, and what is it in dollars?
- Do I have ordinance or law coverage, and how much?
- Is there a cosmetic damage exclusion on the roof?
Get the answers by email and keep them with your policy. Related: does homeowners insurance cover roof replacement and code upgrade coverage.