How does insurance work with roof replacement in Fayetteville?
Just the word insurance can bring stress into your day, the process can seem very confusing and a challenge. While insurance with roof damages may appear difficult the steps required to begin a claim are actually quite simple. In this article we will help walk you through what you need to do to write a claim for roof damages and how insurance works in regards to roofing.
The first thing we have to determine is if the insurance provider will cover the cost of a new roof or large roof repair. When it comes to roof replacement and roof repair an insurance company is only going to provide coverage for damages that happened such as hail, lightning, strong winds, trees falling etc. Insurance providers do not cover the cost of a new roof if you simply want new shingles or think a metal roof would look much better on the home. There has to be a significant cause of damage such as the things listed above. If you try and file a claim to have your roof replaced simply because it is old there is almost 100% chance the claim will get declined.
Now that we understand what types of damages homeowner insurance will cover with roof replacement we now need to access the amount of coverage your policy includes. The fastest way to find this out is to contact your insurance agent or go to the policy section of your insurance company's website inside your customer portal. If you believe that your policy will more than likely cover the cost of damages then you can begin the roof replacement claim process.
Accessing damage/ roof inspection
The majority of large insurance companies will require a roof inspection from a professional such as ourselves or their own agents, when you call your company they will tell you which they would like. If your home was damaged by a storm, lightning or falling tree your agent will most likely classify the claim as an “act of god” or “peril” claim, this all depends on what caused the damage to the roof in the first place. Below are some examples of coverage you may have on your property and roof. Later in the article we will also talk about the most efficient way to file a claim if your roof was damaged in a storm or act of god such as lightning.
Actual cash value and replacement cost are two types of policies that could be offered with your insurance company. The actual cash value policy means that the provider will do a thorough evaluation of what your roof was worth before the damages occurred and then write you a check for that same amount. This amount can now be used to replace the roof, you would then be required to cover the price of any additional materials or costs which you install over the amount listed on their check. Replacement cost policies are just what they sound like, It is the cost required to replace the roof minus your deductible of course. Below is an example of how actual cash policies work.
Let us imagine that your roof is 10 years old and has a 30 year lifetime expectancy. The actual cash value of the roof would be broken down from how much the roof cost at installation and how much time has passed since then. If the roof was $10,000 upon the installation completed then after 12 years the insurance company would cover roughly $3,330 (⅓ of the roof's value over 30 years) and you would be required to pay the remainder of the roof replacement costs. This type of policy may appear confusing but your agent will be able to provide an exact cash value of your roof once you contact them directly.
Under a replacement cost policy your insurance company would charge your deductible (let's say is $1500) and they would cover the remaining $8,500 for the same roof mentioned above. Replacement cost policies may cost a little more each month compared to actual cash policies but you get much more coverage. With any insurance policy It is always good to know the deductible and how they operate. Research has found that the national deductible range can vary anywhere from $500 for smaller policies all the way up to $10,000 for large properties or homes. The national average deductible cost is somewhere around $1000, some policies and companies have higher wind/hail deductibles so be sure to check with your company.
The next step in the roof replacement process is to inspect your roof after the event occured, be sure to take pictures of all the damaged areas as soon as you see them for evidence. Any details about the storm, time and history of the roof will help provide evidence and proof for your insurance claim. If your roof was damaged and the storm is scheduled to return the following weekend be sure to mitigate secondary damages. In many cases the homeowner does not prevent secondary damages (to the best of their ability) and the home receives secondary damages which may not be covered by the policy. If you had a hole in your roof for a month and are just now filing a claim the insurance company may help with the roof replacement but would deny the claim to help pay for water damages caused in the attic and OSB boards. Another example of this would be that a tree falls into the home and severs multiple hot wires (current passing through them). If you did not shut off power to the house after the storm and the home catches fire due to the exposed wiring this would be considered secondary damages and may not be covered.
When choosing a roofer near Fayetteville, NC to come inspect the home we hope to be your first call. Some roofing contractors want contingency contracts (this means that if the insurance claim is accepted then you agree to hire them exclusively as the roofing company you choose) but we are not one of those. We believe that you should be able to choose the company you wish to do business with (this is in fact America!), there is no need for us to try and sneak our way into a signed agreement for the roof replacement. Be sure to call us today to get your roof inspected so you can begin the insurance claim process.
Once you have the inspection completed and the insurance company has accepted your claim, you will then pay your deductible (depending on your policy) and the roofers will come out to repair and install your new roof. Most insurance companies will have your agent follow up with you a few times via email or call in the process to make sure everything goes smoothly.
The first thing we have to determine is if the insurance provider will cover the cost of a new roof or large roof repair. When it comes to roof replacement and roof repair an insurance company is only going to provide coverage for damages that happened such as hail, lightning, strong winds, trees falling etc. Insurance providers do not cover the cost of a new roof if you simply want new shingles or think a metal roof would look much better on the home. There has to be a significant cause of damage such as the things listed above. If you try and file a claim to have your roof replaced simply because it is old there is almost 100% chance the claim will get declined.
Now that we understand what types of damages homeowner insurance will cover with roof replacement we now need to access the amount of coverage your policy includes. The fastest way to find this out is to contact your insurance agent or go to the policy section of your insurance company's website inside your customer portal. If you believe that your policy will more than likely cover the cost of damages then you can begin the roof replacement claim process.
Accessing damage/ roof inspection
The majority of large insurance companies will require a roof inspection from a professional such as ourselves or their own agents, when you call your company they will tell you which they would like. If your home was damaged by a storm, lightning or falling tree your agent will most likely classify the claim as an “act of god” or “peril” claim, this all depends on what caused the damage to the roof in the first place. Below are some examples of coverage you may have on your property and roof. Later in the article we will also talk about the most efficient way to file a claim if your roof was damaged in a storm or act of god such as lightning.
Actual cash value and replacement cost are two types of policies that could be offered with your insurance company. The actual cash value policy means that the provider will do a thorough evaluation of what your roof was worth before the damages occurred and then write you a check for that same amount. This amount can now be used to replace the roof, you would then be required to cover the price of any additional materials or costs which you install over the amount listed on their check. Replacement cost policies are just what they sound like, It is the cost required to replace the roof minus your deductible of course. Below is an example of how actual cash policies work.
Let us imagine that your roof is 10 years old and has a 30 year lifetime expectancy. The actual cash value of the roof would be broken down from how much the roof cost at installation and how much time has passed since then. If the roof was $10,000 upon the installation completed then after 12 years the insurance company would cover roughly $3,330 (⅓ of the roof's value over 30 years) and you would be required to pay the remainder of the roof replacement costs. This type of policy may appear confusing but your agent will be able to provide an exact cash value of your roof once you contact them directly.
Under a replacement cost policy your insurance company would charge your deductible (let's say is $1500) and they would cover the remaining $8,500 for the same roof mentioned above. Replacement cost policies may cost a little more each month compared to actual cash policies but you get much more coverage. With any insurance policy It is always good to know the deductible and how they operate. Research has found that the national deductible range can vary anywhere from $500 for smaller policies all the way up to $10,000 for large properties or homes. The national average deductible cost is somewhere around $1000, some policies and companies have higher wind/hail deductibles so be sure to check with your company.
The next step in the roof replacement process is to inspect your roof after the event occured, be sure to take pictures of all the damaged areas as soon as you see them for evidence. Any details about the storm, time and history of the roof will help provide evidence and proof for your insurance claim. If your roof was damaged and the storm is scheduled to return the following weekend be sure to mitigate secondary damages. In many cases the homeowner does not prevent secondary damages (to the best of their ability) and the home receives secondary damages which may not be covered by the policy. If you had a hole in your roof for a month and are just now filing a claim the insurance company may help with the roof replacement but would deny the claim to help pay for water damages caused in the attic and OSB boards. Another example of this would be that a tree falls into the home and severs multiple hot wires (current passing through them). If you did not shut off power to the house after the storm and the home catches fire due to the exposed wiring this would be considered secondary damages and may not be covered.
When choosing a roofer near Fayetteville, NC to come inspect the home we hope to be your first call. Some roofing contractors want contingency contracts (this means that if the insurance claim is accepted then you agree to hire them exclusively as the roofing company you choose) but we are not one of those. We believe that you should be able to choose the company you wish to do business with (this is in fact America!), there is no need for us to try and sneak our way into a signed agreement for the roof replacement. Be sure to call us today to get your roof inspected so you can begin the insurance claim process.
Once you have the inspection completed and the insurance company has accepted your claim, you will then pay your deductible (depending on your policy) and the roofers will come out to repair and install your new roof. Most insurance companies will have your agent follow up with you a few times via email or call in the process to make sure everything goes smoothly.