There are a lot of questions that need answering before a roof replacement. But there are more complex questions when you throw insurance into the mix.
"Texas law requires a person insured under a property insurance policy to pay any deductible applicable to a claim made under the policy. It is a violation of Texas law for a seller of goods or services who reasonably expects to be paid wholly or partly from the proceeds of a property insurance claim to knowingly allow the insured person to fail to pay, or assist the insured person’s failure to pay, the applicable insurance deductible."
I’ll use my 25-plus years in the insurance/roofing industry to answer the most common questions homeowners like you ask about an insurance roof replacement. Here are a few examples of questions you may need answered:
If you’re local to Central Texas, don’t hesitate to Contact Us for any of your insurance or roofing needs.
When filing a claim, you’ll either have an Actual Cash Value (ACV) policy or a Replacement Cost Value (RCV) policy. While both policies equal a payout from the insurance company, the value between the two policies is very different.
Actual Cash Value is when the insurance company pays out the depreciated value of your roof. This policy means your insurance company only pays what your roof is valued at today.
A Replacement Cost Value policy is when the insurance company pays out what it costs to actually replace your entire roof. However, they don’t give you the full amount for the roof replacement upfront.
You’ll first get a check for the actual cost value of your roof while the insurance company holds back the rest to calculate the recoverable depreciation. After the insurance roof replacement is complete, you’ll provide proof it was done in accordance with the claim.
Once the insurance company gets the proof, they’ll send a second check that covers the rest of the cost. But if you don’t get the work done, they don’t have to send the second check for the depreciated part of the claim.
Both policies protect your roof in the event of storm damage, but a Replacement Cost Value policy ensures your insurance company pays for a full roof replacement.
For insurance to cover roof damage, it must be caused by extreme weather or a storm event. This includes straight-line winds (aka damaging winds) during heavy thunderstorms, hail storms, snowstorms, and tornados.
Most policies also cover roof damage from fallen tree limbs caused by strong storms. If any of the above causes roof damage, the insurance should pay for a replacement.
However, it ultimately depends on what’s found during the inspection if there’s enough roof damage to warrant a full replacement. But if extreme weather caused damage, your homeowner’s insurance should pay to replace your roof.
The first thing you should always do is call your insurance company. After giving them all the relevant information, they’ll either send out an adjuster or tell you to contact a roofing company.
If the insurance company schedules an adjuster, they’ll come out to inspect the damage and determine if you have a claim. If they approve your claim, it’ll be time to find a great roofing contractor.
If the insurance company tells you to find a roofing contractor, contact Lone Star Roofing & Gutters. If they find signs of storm damage, they’ll document the proof and send it off to your insurance company for approval.
No matter what, the first thing you should always do is to call your insurance company if you suspect storm damage.
If your insurance company approves your claim, you’ll get an estimate for the scope of work required to replace your roof back to the way it was before the damage occurred. Unfortunately, most of the time, insurance adjusters leave key line items off the estimate.
Some even leave off crucial code upgrades required to ensure your roof complies with your state’s building codes. When this happens, your insurance claim has to be supplemented.
Supplementing an insurance claim means a roofing contractor does the due diligence to ensure every line item (including local codes) your roof needs is included and covered by the insurance company. If a roofing contractor won’t do this or doesn’t know how to, don’t even think about hiring them.
Just know that some insurance companies give roofing companies some pushback on supplementing. But as long as a roofing contractor has supplementing experience and knows how to deal with insurance adjusters, your roof will get everything it needs.
BREAKING THE LAW HURTS PROPERTY OWNERS
BREAKING THE LAW TYPICALLY INVOLVES INSURANCE FRAUD.