So you have roof damage at your Davenport, IA home. What you do next could either save you money or cost you a small fortune. Roof replacement can cost anywhere from a few thousand dollars to upwards of $20,000 or more. The actual replacement cost depends on factors such as shingle quality and roof size.
Still, those figures can leave you feeling anxious and strapped for cash. However, if a storm recently rolled through town and caused the damage, your homeowner’s insurance might cover the bill. Here, you’ll learn what qualifies as claimable damage, different types of roof insurance policies, and how to work with a roofing contractor throughout the claims process.
What Qualifies as Claimable Damage?
Insurance companies don’t hand over insurance money easily. They require their customers to prove their home has roof damage covered by the insurance policy, and you have to do it fairly quickly. Most insurance companies put in place a statute of limitations on how long after an incident you can file a claim.
If your roof was severely damaged, such as large sections of shingles have gone missing or sections of the roof have blown off, you pretty much know you have claimable damage. It’s the trickier, more inconspicuous damage that can cause interior damage to your home’s structure that isn’t as obvious to the untrained naked eye.
That’s why you want to contract experience storm damage roofers right away following a severe weather event. Although your insurance company will likely send their adjuster to inspect the roof after you make a claim, you want a roofer of your choosing to give their damage assessment.
Examples of damages that often get accepted by insurance companies as claimable incidents include:
- Dark or discolored spots on shingles
- Cracked or chipped roof tiles
- Indentations on roof vents
- Missing shingles or flashing
- Dented gutters or downspouts
To get the claims process moving faster, you want a professional roof inspection done right away. Roofers document the damages mentioned above and include photos with the report. Having an inspection done by a roofer you hire gives you peace of mind you’ve covered all your bases before filing your insurance claim. You will also have someone on your side to go to bat for you if the insurance company dismisses your storm-related damage claim.
Different Types of Roof Policies
Homeowners must have insurance policies to protect their structure, especially when they make payments to a mortgage company. However, most people don’t remember the coverage they have by the time something happens that requires them to file a claim. Knowing the type of roof insurance policy you have is important because you want to have as much coverage as possible.
There are two types of roof policies exist: actual cash value (ACV) and replacement cost value (RCV).
If you have an ACV policy, you pay more out of pocket for storm damage roof replacement because the policy covers the replacement cost minus the depreciation value. Insurance companies assume roofs lose a percentage of their ACV every year, much like a vehicle after you’ve driven it off the lot. So, if a roof replacement costs $10,000, but the roof’s depreciation value is $3,000, the amount the policy will pay to replace the roof is $7,000. Then, the insurance company subtracts your deductible from that amount. If you have a $1000 deductible, the amount the insurance pays out is $6,000.
An RCV policy doesn’t take into consideration depreciation value. If the roof costs $10,000 to replace, they pay that figure minus your policy’s deductible.
You can’t change the type of roof insurance policy you have when you make a claim. Unfortunately, many people have ACV policies because they have cheaper yearly premiums. However, you can change the policy after the claim. If you have an ACV policy, you might want to consider making the change to save money if you need to file a roof damage claim in the future.
How to Work With a Storm Damage Roof Contractor
Roofing companies in Davenport have much experience navigating insurance claims. Once you hire a licensed roofing company and get the claims process going, the roofing company takes over and handles most of the insurance company’s requirements. If the insurance company tries to pay out less than the full replacement cost of the roof, storm damage roofers negotiate on your behalf. They will help you through the process so you pay as little out-of-pocket as possible. Some roofing companies might even cover the deductible or subtract that from the final bill.
At Evenhouse Roofing, we offer full roofing services, including roof repair, replacement, and inspections, and even offer siding and skylight services. Work with the team with the most expertise navigating roof insurance claims in Davenport, and call Evenhouse Roofing today!
