Aurora Roofing: Article About Roof Insurance Claims
Most of the roof replacements and repairs performed by Aurora roofing companies are covered by insurance. Roofs are one of the most active aspects of the home insurance industry, and when a claim is required, the entire process can be rather simple and fast. What often presents the biggest challenge is a homeowner not knowing what his or her coverage entails. It is imperative that a homeowner read the fine print and request clarification before an insurance claim is ever required.
The first thing to look for is whether there are gaps in the insurance. As claim rates rise, it is becoming increasingly prevalent for home insurance policies to include coverage limitations. Another aspect homeowners may overlook is actual value versus replacement value. In this context, actual value is the estimated value of a roof at this moment in time. This means that depreciation is not covered, and the homeowner will have to finance or pay out of pocket the difference between the AV and the actual cost.
When a homeowner suspects roof damage, it is vital that he or she call the insurance company immediately and schedule an appraisal.
The roofing experts at Roof Worx of Aurora CO can assist you with any questions regarding roof leak repair or metal roofing.
Most companies offer 24/7 availability, and if repair is not required or is not covered, there is no penalty. The benefit here is that the homeowner begins the process as soon as possible. Additionally, they differentiate themselves from storm chaser style claims, which are usually characterized by being filed after the fact and not involving the homeowner directly.
Once a claim has been improved, it is important to schedule several estimates. Since the insurance company is paying, the estimate itself is of less importance, but what is important is the multiple perspectives. Supplemental work is work that a contractor deems necessary but was not listed on the claim by the appraiser. If all three estimators agree on the supplemental work, then a homeowner can be confident that it is necessary and that the insurance company is likely to pay for it.
Most home insurance policies do pay RV on a roof replacement or repair. However, most companies will only provide a check for the AV up front. If supplemental work is required, a supplemental claim is filed, and if approved, the insurance company releases another check. When the work is completed and the invoice finalized, the insurance company subtracts the deductible and any payments thus far and then pays the homeowner the difference. The homeowner must pay the remaining difference.