Even with preventative measures in place to keep them as weather-resistant as possible, residential roofing systems can still sustain storm damage from hail, wind and wind-blown debris. To mitigate potential losses resulting from roof damage, having insurance coverage is imperative. Filing an insurance claim isn???t a straightforward process, however, and homeowners often lack a clear understanding of how it works.
Arrowhead Painting, your local residential painting contractor, also specializes in insurance claims assistance. Today we answer some of the most commonly-asked questions about roof damage insurance claims.
What Does a Roof Insurance Policy Cover?
Contact your insurer to find out exactly what???s covered in your roof insurance policy. When you file a claim, the insurer takes your roof???s age into account. In many cases you may be covered for all the damage if it’s less than 10 years old. If the roof is considerably old and close to reaching the end of its lifespan, your insurer may reimburse the depreciated value of your damaged roof instead.
Will Your Insurance Policy Cover a New Roof?
If your roof sustained major damage, your insurer may approve your claim and compensate you for the installation of a replacement roof. Failure to follow the established roofing insurance process, however, can cause delays and may even result in the insurer rejecting your claim. In addition to having interior painting expertise, Arrowhead Painting specializes in guiding homeowners every step of the way during the insurance claim process.
When Do Insurance Companies Withhold Depreciation?
Insurers may hold back compensation for various reasons. For one, to make sure that the necessary work being done on the roof is completed. Another reason is that it’s the insurer???s way of ensuring the policyholder pays the deductible. Withholding the retainage amount also allows insurance companies to adjust the final payment amount.
Arrowhead Painting???s specialized insurance expertise includes, but is not limited to, damage assessment, insurance negotiation and settlement, estimation and construction. It pays to have us on your side, as we can help you avoid losing out on the full compensation you’re entitled to receive under the terms of your policy.