Dealing With Your Insurance Company
Although there are many different ways that insurance companies may have written your policy here is the way we have found most insurance companies handle claims.
Making A Claim
The homeowner is the only person that can make a claim against their insurance company.
Once The Claim Is Filed
Most insurance adjusters will send out a insurance adjuster to verify the damage. They will also measure the roof, and count the layers of existing roofing. All hail damaged flashing will also be paid for by the insurance company.
How Insurance Company’s Figure Out The Cost
After figuring the square footage of the roof the insurance adjuster will figure out the cost using a standard unit cost for each layer of material to be removed, all damaged flashing, and the cost to replace your roof with the same material that was damaged. Most roofing company’s estimates will be almost the same price as your insurance adjusters’ price. This is because the insurance companies use the same procedures for figuring out the cost that we do.
How Much Does The Homeowner Have To Pay?
On most insurance policies the homeowner only has to pay the deductible. This usually is either a $500.00 or a $1000.00 deductible although this varies per policy.
How The Insurance Company Pays Out The Claim
The most common way insurance pays for the damage is by two checks. The first check is the value of your roof as of today after the deprecation if taken out. The deprecation is figured by the age of the roof. After this is determined the deductible is taken from this first check.
Here Is The Tricky Part
Many homeowners try to save paying the deductable by getting several estimates. Although this is what many people think, the insurance company will not pay the total amount of the second check until they receive an invoice from a licensed roofing company. The insurance company requires a licensed contractor to do the work before they will pay the second check. They will also send this licensed contractor a 1099 for tax reporting purposes. If you shop, to get a cheaper roof it will not save you any money. And if you pick the wrong contractor that installs your new roof improperly then your insurance company will deny all responsibility for damages to your roof, house, and any personal items damaged due to the improper installation.