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You may find yourself wondering, will my insurance company cover a total roof replacement after storm or age damage. Champion is here to help you with the process from start to finish. Give us a call today to assess the damage and give you our expert advice!
All insurance providers are different, to ensure you are covered, we recommend calling the insurance company first to verify. This may depend on a few factors:
What type of policy you have and the amount of coverage selected
The type of roof damage you have and when it happened
The age of your roof
Ref: https://www.tdi.texas.gov/takefive/replacing-your-roof.html
First:
You will need to call and provide details to your insurance provider such as: what happened to cause damage, when did it happen, and any other factors they consider when filing a claim for you.
Second:
They will send out an adjuster who will do a full inspection of your property. The amount of time it takes to send out an inspector will depend on how busy they are. It may be a good idea to reach out to us at this time to inspect the roof. We can help to identify if there is any work that needs to be repaired now.
Third:
Once the insurance inspector or adjuster has performed the inspection of the property, they will provide their findings to the insurance agent who will determine if they will pay for a repair or a replacement of the roof. Depending on your policy and age of the roof even if they do end up replacing the roof, you may not get the full amount required.
Ref: https://www.tdi.texas.gov/takefive/working-with-adjuster.html
Recoverable Depreciation:
Recoverable Depreciation is the term that some insurance companies use to cover the depreciated value of your roof. This means that if your roof is old and considered to be depreciated in value, the insurance company may not pay for the difference in cost to replace vs value.
Recoverable Depreciation may be part of your insurance plan in which they will pay you for the difference.
Finally:
Once your insurance company gets the assessment, they will send you a check for the repairs. After the work is completed, they may release the additional recoverable depreciation check for the difference.
Ref: https://www.tdi.texas.gov/takefive/home-insurance-policies-replacement-cost-or-actual-cash-value.html