With increased frequency of hail and windstorms, SGI Canada implemented some changes to their home insurance policies this summer. If you currently have an SGI Canada property insurance policy, these changes may affect you.
- Effective July 1, 2015 SGI Canada will be providing payment for roof damage on an Actual Cash Value basis on new and renewal accounts on roofs that are 10 years or older if the cause of loss is windstorm or hail. This includes damage to the roof, roof coverings, soffit, facia, eaves troughs and downspouts connected to eaves troughs of the dwelling and outbuildings.
- For any homeowner with a roof that is older than 10 years, SGI will now provide payment for the repair or replacement of the roof, less the deductible and depreciation for the age and type of roof.
- Customers with newer homes, or who have invested the time and money to replace their roof in the past 10 years, will receive full replacement cost.
- Also, there is a Dent Exclusion for metal roofs over 10 years old. When the cause of loss is windstorm or hail, SGI will not pay for dent damage to metal roofs for dwellings or outbuildings where the age of the roof is greater than 10 years, unless the metal is actually punctured.
For more detailed information on how the age of the roof is determined or how this may affect you in the event of a loss, please contact your broker. If you have questions about your SGI Home Insurance policy, we're here to help. Give us a call at the number below.
