Understanding Your Policy
Learn to read and understand your homeowner's insurance policy. Coverage types, deductibles, and exclusions explained.
Know Your Coverage Types
Understand the difference between Actual Cash Value (ACV) and Replacement Cost Value (RCV). ACV pays for the depreciated value, while RCV pays for full replacement cost. Most policies are RCV for dwelling but ACV for personal property.
Understand Your Deductible
Your deductible is the amount you pay out-of-pocket before insurance coverage kicks in. Common deductibles are $500-$2,500. Some policies have separate deductibles for wind/hail damage. Know your specific deductible amounts.
Review Coverage Limits
Check your policy's coverage limits for dwelling, personal property, and additional living expenses. Ensure your dwelling coverage is sufficient to rebuild your home at current construction costs.
Know What's Excluded
Review policy exclusions carefully. Common exclusions include: normal wear and tear, maintenance issues, damage from lack of maintenance, and certain types of damage. Understanding exclusions helps set realistic expectations.
Important Reminders
File claims promptly - most policies have time limits for reporting damage.
Keep all documentation organized - photos, receipts, estimates, and correspondence.
Get professional assessments - certified roofer inspections strengthen your claim.
Review your policy - understand what's covered and what's excluded before filing.
Need Help with Your Insurance Claim?
Our guides provide information, but professional assistance can make a significant difference.
Get Claim Assistance