How does a roof depreciation schedule work in insurance?
Short answer. A roof depreciation schedule, often called a roof payment schedule or roof surfacing loss percentage table, is a chart in your policy that sets what percentage of the roof's replacement cost the insurer pays based on roof age and material. You find your row and column, multiply by the replacement cost, and subtract the deductible.
Reading the table
- Find the roof's age in years, measured to the date of loss.
- Find the material column: asphalt shingle, metal, tile, wood, or other.
- Read the percentage where they meet.
- Multiply the roof surfacing replacement cost by that percentage.
- Subtract your deductible from the claim total.
A hypothetical example
Suppose a schedule shows 60 percent for an asphalt shingle roof aged 10 years. The roof would cost $14,000 to replace, so the roof portion pays $8,400. If gutters on replacement cost add $1,200 and the deductible is $2,000, the payment is $7,600. The schedule's gap of $5,600 is not paid later.
Things to verify
- Age: the year the roof was installed, proven by a permit, invoice, or closing records.
- Material: architectural and three-tab shingles may sit in the same column, while metal or tile will differ.
- What counts as roof surfacing: the endorsement defines it, and items outside it may still be paid at replacement cost.
Before a storm
If your policy has a schedule, estimate what you would pay out of pocket at your roof's current age, and talk with your agent about options before hail season.
Related: the roof payment schedule endorsement, roof age and insurance, and the percentage wind and hail deductible.