The impact of depreciation on home insurance coverage can be significant for homeowners and insurers. When a roof depreciates, so does the value of the dwelling, and depreciation affects what homeowners pay in premiums.Depreciation can also affect how much dwelling insurance providers pay out to homeowners when they make claims after disasters such as fires or floods.Roofs typically have a life expectancy of between 15-30 years. If your roof is too old, you may not receive the full replacement cost in your claim payment.