No Insurance Deductible Re-roofing
Below you’ll find some of the common questions we are asked about no insurance deductible re-roofing
Re-roofing without an insurance deductible can be a confusing process; here are a few of the most common questions we get:
Essentially: no. This is really only an issue because of unethical contractors; you won’t ever find a reputable insurance company telling you it is an acceptable practice. All of the interaction between you and a roofing contractor should be disclosed in the invoice details; it should set off a red flag if such information is not included in the invoice.
Although insurance contracts typically come with a large amount of fine print, the overall message is fairly simple: you pay an annual premium that protects you against a loss. However, your insurance can’t cover every little loss, so a deductible amount must be reached before the insurance will take over.
For example, if you have a $1,000 deductible and your loss is less than that, your insurance company doesn’t owe you anything, as you cover the first $1,000 of your loss. However, the insurance company would pay for a larger loss after you pay the initial $1,000 deductible. If you have a $20,000 loss, your insurance company will pay $19,000 of it after your deductible. No matter the size of your loss, your payment amount is always the same—your deductible amount.
No. You might think you can save a deductible if your roofing contractor can do a project for $20,000 and your adjuster calculated the cost would come in around $17,000. However, your deductible always comes first, so there isn’t really a financial reward for finding a lower price. A deductible can only be totally avoided by submitting a false invoice that reflects a higher amount than what you really paid for the project. Insurance companies audit claims internally, and if a shady contractor creates a false invoice for you, you could end up with lots of problems and in lots of trouble.
We want everyone to be within reach of a new roof, so we offer financing options to help if your insurance won’t cover roofing projects or if the deductible is holding you back. We also accept all major credit cards without additional fees. Give us a call today to find out your best options!