In need of roof replacement because of wind damage? You may be surprised when filing a roofing claim with your insurance company, and they greet you with an unexpectedly high deductible. Most insurance claims – from property and health to auto insurance – require a deductible before covering the rest. The same goes with roofing claims.
While it’s your roofer’s responsibility to help handle your insurance company, there are important things you need to know about roof replacement deductibles.
1. Deductibles Vary by Company, Product and State Law.
A roofing deductible is the amount of money you should pay toward the cost of an insurance claim – for example, a roof repair due to hail damage. Deductibles aren’t always the same. Depending on the company, insurance product or state law, roofing deductibles can be expensive or cheap.
Most of the time, insurance policies cover all perils or causes of roofing damage. They may also provide extensive coverage for specific perils, such as hail and wind. In such cases, a single deductible amount covers all types of damage. It’s always best to know what your policy includes and how to calculate deductibles to your project.
2. Contractor Discounts Are Discouraged.
Some roofers provide discounts or offer to pay for their clients’ deductibles. The truth is, this practice isn’t encouraged in the roofing industry. It’s even illegal in some states. For a hassle-free experience, be sure to keep the information about your deductible between you and your insurance provider.
3. Deductibles Don’t Cover Add-Ons.
Calculating your roof replacement cost? Deductibles don’t cover upgrades that aren’t included in the claims so be sure to add them on top of the projected cost. The adjuster will typically offer the market price for having your old replaced with a similar material. To get better products, you’ll have to pay for the price difference.
4. There May Be Tax Deductions Involved.
There’s a possibility that your roof replacement deductible and additional expenses are tax deductible. The best thing to do is consult a tax adviser when filing a claim because there can be specific conditions involved.
Tony’s Roofcare, one of the leading local roofers, specializes in roofing, siding and other exterior improvement services. Call us at (253) 200-4597, or complete our contact form to schedule a FREE estimate.
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