Cheap Home Insurance Dangers - Overland Park, KS - Roof Coverage

Overland Park, KS home insurance will be more expensive than home insurance in the majority of other parts of the country. The reason for this is simple; it is not a matter of if, but when, your insurance company will be paying for you to get a new roof. Many low-cost home insurance policies tend to limit the coverage on the insured's roof in an effort to keep the cost of the policy down. BE AWARE, you are getting what you pay for!

Over the past few years, hail storms have become more prevalent. Hail storms are also showing the ability to do tremendous, wide-spread, damage. It is for this reason that the roof coverage included in your home insurance is EXTREMELY important. The usual consumer is simply unaware that there are different ways to insure your roof and if you are insuring your roof in certain ways, you could be left paying the majority of the cost of a new roof when needed!

There are two ways of insuring your roof; Actual Cash Value (ACV) and Replacement Cost. In the Mid-West, due to the likelihood of this part of the policy being used, homeowners will ALWAYS want to be sure they are insuring their roof as Replacement Cost. The two types of coverage are defined below. More information on home insurance in Overland Park can also be found here.

Actual Cash Value (ACV): If/when your roof is damaged and needing replaced, the most the insurance company will pay toward the cost of replacement is up to the current value of your EXISTING roof. Due to depreciation, your current roof's value does nothing but go down over time. So, if your 10 year old + roof needs replacement, you can bet that the check the insurance company gives you won't come close to the cost of a new roof.

Replacement Cost: If/when your roof is damaged and needing replaced, the most the insurance company will pay toward the cost of replacement is up to the COST OF REPLACEMENT. The value of your existing roof doesn't play a factor toward the coverage extended. So, if your 10 year old + roof needs replacement, you can be assured that the insurance company will be paying for the full cost of replacement; subject to your deductible.

For more information on home insurance in Overland Park, KS and surrounding areas or to review options as to the cost of coverage for a specific home, please reach out to The Wertzberger Agency at 913-383-3276 or email us at pwertzberger@farmersagent.com.