Is your roof damaged?
After natural disasters like hurricanes or storms, your roof could be damaged and unable to protect your home from external environment like water.
Insurance companies usually pays for the full roofing cost minus deductible if the roof is less than 10 years. However, they rarely give the full costs for the old roof (more than 10 years).
So, it is advisable to check for potential damages after severe weather.
Step by step explanation of insurance claim
1. Check your roof for damages:
Usually, damages from normal wears and tears are not covered by the insurance policy. Look for signs like detached shingles, blown out shingles, roof granules in gutters, or outside shine in your attic.
If you see dark spots, sagging, or bulging cracks in ceiling, it means water has find its way into your house. You will then need prompt attention to seal that leakage to prevent further damages to your home. Contact your roofers for sealing.
2. Contact your roofing contractor:
Your roofing contractor will come to your house to estimate damages. Many roofers give free estimates, take damage photos, and work for your claim approval. An experienced roofer will help your claim approved in accelerated manner. JY BEST can help this tedious time consuming process for you.
3. Report to your insurance agency:
Prepare insurance policy #, policy holder's information, house address, and tell them who your roofing contractor is (who will help with approving your claim). They will give you claim #.
An adjuster will schedule to visit your house to check for damages, and determine whether damages are from natural disaster or normal wears and tears. They will later notify if you are approved or rejected for the claim.
4. Accepting the claim:
In case of insurance claim approval, you will get certain amounts of coverage for replacing/repairing your roof. The amounts are determined by your policy and causes of your roof damages.
Check your insurance policy for details. Below is the example of insurance coverage.
RCV (replacement cost value) – insurance pays for replacement cost minus deductible. Insurance premium is usually higher for this coverage.
Ex) $12,000 replacement cost - $1,500 deductible = $10,500 insurance pays you.
ACV (actual cash value) – insurance pays for what is worth of old roof minus deductible. If you paid $12,000 for the new roof 10 years ago with 20-year lifetime, your roof remains 1/2 of lifetime and so depreciated its value by half which is $6,000. Insurance premium is usually lower for this coverage.
Ex) $12,000 the original roof cost - $6,000 depreciation (10-year-old / 20-year lifetime) - $1,500 deductible = $4,500 insurance pays you.
Note that your roofing contractor can negotiate this depreciated value with the insurance company for you. Your insurance company will talk with your roofers for additional requirements depends on states and city building code.