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Roofs, Mitigation and Discounts terms
Roofs, Mitigation and Discounts in Homeowners Insurance: the news, the names and what changed.
ACV roof endorsementAn endorsement that pays wind and hail roof damage at replacement cost less depreciation, even when the rest of the home is settled at full replacement cost.Claims-free discountA premium credit for homeowners with no paid claims over a set number of recent years, verified from the insurer's records and claims history reports.Class 4 roofA roof covering that earned the top impact rating under the UL 2218 test, which simulates hail with a dropped steel ball, and that insurers may discount.Cosmetic damage exclusionAn endorsement that excludes hail dents, pitting and surface marks that do not stop a roof or siding from doing its job, often in exchange for a lower premium.Defensible spaceThe managed buffer of trimmed, thinned and cleared vegetation around a house that slows a wildfire and gives firefighters room to defend the structure.FORTIFIED HomeA voluntary construction standard from the insurer-funded IBHS that strengthens a house against wind, hail and storm damage, with certified designations.Four-point inspectionA limited inspection of an older home's roof, electrical, plumbing and heating and cooling systems that insurers may require before writing a policy.Home hardeningUpgrades to a house's roof, openings, vents and materials so it resists a specific hazard such as wind, hail or wildfire embers, not just insures against it.Impact-resistant roofA roof built with a covering tested to withstand hail and debris impact, which can earn a premium credit from some insurers in hail-prone states.Mitigation creditA premium discount for building features shown to reduce storm or wildfire damage, such as a reinforced roof, impact windows or defensible space.Multi-policy discountA premium reduction for buying your home policy and another policy, usually auto, from the same insurer or insurance group.Opening protectionImpact-rated glass or tested shutters over a home's windows, doors, skylights and garage door that keep debris and wind from breaching the walls in a storm.Protective device discountA premium credit for installing safety equipment such as monitored burglar or fire alarms, sprinklers, smoke detectors, deadbolts or water-leak shutoffs.Roof surfacing payment scheduleAn endorsement that pays roof damage as a set percentage of replacement cost based on the roof's age and material, not full cost or a depreciation estimate.Roof-to-wall connectionThe hardware that fastens roof rafters or trusses to the top of the walls, which decides whether a high wind can lift the roof off the house.Secondary water resistanceA second layer on the roof deck, such as a self-adhering membrane over the seams, that keeps rain out of the house if the shingles blow off in a storm.Wind mitigation inspectionAn inspector's checklist of a house's storm-resistant features, such as roof fastening and window protection, that insurers use to apply wind discounts.