Typically, a standard homeowners insurance policy covers your roof and the expenses associated with its replacement if it's damaged. This coverage extends to sudden accidents or acts of nature, such as storms, falling objects, or fire. Essentially, if your roof sustains damage due to a covered peril, your insurer may foot the bill for repairs or replacement.

Yet, there are caveats. Insurance won't cover gradual deterioration from wear and tear or neglect, nor will it replace roofs that have surpassed their intended lifespan. Roofs older than 20 years may have limited or no coverage, often reimbursed at actual cash value rather than replacement cost.

Roof coverage can vary based on location and policy specifics. High-risk areas might require additional coverage for perils like hurricanes or hailstorms. It's essential to understand the terms and limitations of your policy to avoid surprises during a claim.

Roof replacement costs can vary widely, but there are ways to mitigate expenses. Researching materials, obtaining multiple quotes, and scheduling replacement during off-peak seasons can yield savings. DIY removal or opting for overlays are also cost-saving strategies, though they come with their own considerations.