Understanding Actual Cash Value & Wind/Hail Deductible for your Homeowner Policy
1. Save with Actual Cash Value (ACV) roof coverage.
-ACV is the cost to repair or replace a roof, taking the age and general condition into consideration. This means if the roof of your home is damaged by wind or hail, the company will factor in the depreciation (wear and tear) of the roof. Similar to the value of your auto, roofs depreciate over time due to normal wear and tear, and exposure to elements.
2. Consider a separate wind/hail deductible.