Wind and hail roof settlement options can be configured directly within the Coverage tab of the agent portal. Depending on the property's location and the roof's age, agents can choose between two main settlement types. The portal's default option automatically adjusts based on these factors.
Settlement Options
Openly values covered wind and hail roof losses based on the selected coverage option:
- Replacement Cost (RC): Loss settlement is calculated based on the necessary repair or replacement of the damaged roof using materials of similar kind and quality.
- Roof Payment Schedule (RPS): Loss settlement is calculated as a predetermined percentage of the overall RC. This schedule provides full transparency and removes subjectivity by using two clear data points to determine the payout: roof material and roof age. The settlement amount adjusts gradually as the roof ages.
State Exclusions: The Roof Payment Schedule option is not available for properties located in New Mexico or Virginia.
Roof Payment Schedule (RPS) Transitions
In the states listed below, policies will automatically apply or transition to a RPS endorsement once a roof reaches the designated age.
| State | Roof Age | Roof Material |
|---|---|---|
| Alabama | 11+ Years | All except tile, slate, and metal |
| Georgia | 16+ Years | All except tile, slate, and metal |
| Illinois | 11+ Years | All except tile, slate, and metal |
| Indiana | 11+ Years | All except tile, slate, and metal |
| Kansas | 11+ Years | All except tile, slate, and metal |
| Kentucky | 11+ Years | All except tile, slate, and metal |
| Mississippi | 8+ Years | All except tile, slate, and metal |
| Missouri | 11+ Years | All except tile, slate, and metal |
| Ohio | 11+ Years | All except tile, slate, and metal |
| Oklahoma | 11+ Years | All except tile, slate, and metal |
| Pennsylvania (MST / TCPN prefix) | 15+ Years | All |
| Tennessee | 11+ Years | All except tile, slate, and metal |
| Wisconsin | 11+ Years | All except tile, slate, and metal |
Rules & Considerations
- Eligibility for Replacement Cost: Roofs newer than the ages listed in the table above remain eligible for full RC coverage for wind and hail events.
- Other Covered Perils: For any other covered losses (such as fire), the roof remains eligible for Replacement Cost Coverage, regardless of the roof's age or material.
- Deductibles: Standard policy deductibles and any applicable wind / hail deductibles still apply to all losses.
- Automatic Renewal Adjustments: For existing policyholders in the states listed above, coverage will automatically transition from RC to the RPS endorsement upon policy renewal after the roof reaches the designated age threshold.
Resources & Schedules
To view exact percentage breakdowns, review the sample schedules below:
View this example Roof Payment Schedule for GA.
View this example Roof Payment Schedule for AL, IL, IN, KS, KY, MO, MS, OH, OK, TN, and WI.
Note: Always review your client's specific policy documents to verify their exact schedule and coverage details.
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