Before you go forward with your claim, it's important to gain a detailed understanding of your home policy. With our educational insights, you'll be able to navigate the claim process like a pro.
Get Answers to Your Insurance Questions from our Roofers in Golden
Don't let the insurance claims process confuse you or get to you! If you have questions when filing your claim, you can always get advice from your trusted roofing contractor.
What Damage Is Covered by Homeowner's Insurance?
Standard homeowners' insurance policies provide four essential types of coverage (III):
- Coverage for the structure of your home
- Coverage for your personal belongings
- Liability protection
- Coverage for additional living expenses
Coverage for your home's structure will pay to repair or rebuild your home if it is damaged or destroyed in certain situations.
Standard policies cover many weather-related incidents including hurricanes, hail, lightning, fire, or other disasters. However, most policies will not pay for damage caused by floods, earthquakes, or general wear and tear.
Make sure to be familiar with your homeowner's insurance policy so you know which weather-related incidents are covered and which ones are not.
When Would My Claim Be Denied?
Insurance companies will deny claims for roof replacements and other repairs for many reasons.
Most commonly, a claim may be denied because of a lack of upkeep or maintenance. Most home policies include requirements for homeowners to do seasonal roofing maintenance. Claims may also be denied for things like:
- Previous damage - Home insurance will only cover damage caused by the most recent storm event.
- Wear and tear - If your roof damage was not caused by a recent storm, it won't be covered.
- Manufacturer defects - If your roofing system fails due to a product defect, your insurer is not responsible for your roofing project costs.
- Filing too late - If you don't file a claim within 365 days from when the damage was incurred, your claim will likely be denied.
Will My Rates Increase If I File a Claim?
It's possible that your premiums will increase when you file a homeowners insurance claim. However, it ultimately depends on the claim type and amount (PolicyGenius). Claims for theft, vandalism, water damage, and liability can cause your rates to increase. However, weather-related claims typically aren't as likely to result in premium increases.
So, if you file a claim for storm damage roof repairs, your premiums likely will not increase. This is not guaranteed however, so be sure you fully understand your policy.
Can My Insurance Company Tell Me Which Contractor to Hire?
You are not obligated to hire a contractor that is recommended or preferred by your insurance company.
In fact, it is often best for homeowners to have a contractor pre-selected before a damaging storm even hits. This way, you can get started on the repairs quickly and you won't need to worry about hiring the wrong contractor.
How Does the Payment Process Work?
Be sure to review the details of your policy to gain an understanding of your reimbursement process. It boils down to whether you have one of the following policies:
- Actual Cash Value (ACV) coverage
- Replacement Cost (RC) coverage
In an ACV policy, your roof's value depreciates in the years following your installation. Under this coverage, your insurer will only reimburse you for the current depreciated value of your roof.
Under an ACV policy, you'll receive one check for the depreciated value of your roof after the restorations are complete.
In an RC policy, your insurance company will cover the cost of your new roof minus your deductible. It should come as no surprise that RC coverage is the better choice for most homeowners.
Under RC coverage, expect your policy to be paid out in two installments. You'll receive the first check following your assessment with the insurance adjuster. The second will arrive once the insurer receives a final invoice for payment following the completed repairs.
What Should I Do If My Claim Is Denied?
It's possible that your insurance claim will be denied. If that happens and you disagree with the decision, contact your insurer to schedule a re-inspection.
During that appointment, make sure you have a reputable roofing professional on-site. They'll act as your advocate and document the list of damages alongside the adjuster. This may help solve your dispute and get your claim approved.
Make sure you file an appeal with your insurance company as well. If your appeal is denied, you have the option to dispute the action further with your insurer. If your claim remains denied, you may want to consider filing a complaint with the Colorado Division of Insurance.
Book Your Free Roof Inspection with Our Golden Roofers
Has your roof recently suffered damage? Or does your roof need some general repair services? If so, we can help at Ethos Roofing & Restoration.
For decades, we have provided top-rated roofing services for homes and businesses all across the Front Range. We can quickly and efficiently address any roofing issues, no matter the size or complexity. If you're looking for quality services in the roofing industry, look no further than Ethos.
Contact us today to schedule your FREE roof inspection with our roofers in Golden.