As most Floridians know by now, the 2020 Atlantic hurricane season is going to be a busy one. Hurricane Isaias, though only a Category 1 hurricane, caused widespread damage to homes across the east coast. One of the most common types of damage that can happen to a home during a hurricane is roof damage, which begs the question for homeowners: How does the roof insurance claim process work?
When you file a claim, these five things are good to know.
Making a Claim with Your Insurance
After a storm damages your roof, the first thing you probably think you need to do is contact your insurance. While you do not want to procrastinate when filing a claim, it is in your best interest to consult with a property insurance attorney to make sure you are protected. Many insurance companies, to avoid losing revenue, will deny or underpay claims, sometimes in bad faith. When you have an attorney from the start of the process, you can ensure that they will take your claim seriously.
Make Temporary Repairs
Repairs take time, but you cannot wait to protect your home from suffering more damage from the elements. Be sure to document the damage that originally occurred, then make temporary repairs, as necessary. Save the receipts for any supplies you purchase so you can get reimbursed for it when your claim is finally processed.
Your insurance company will perform an inspection as part of the roof insurance claim process. To protect your interests, we recommend that you have an attorney present when the inspection takes place. As your advocate, we will make sure that you they do not try to take advantage of your vulnerability.
Replacement Cost Value or Actual Cash Value?
Do you know if your insurance policy grants you replacement cost value for your roof? Or is compensation based on actual cash value? If your policy is based on RCV, then depreciation of the roof’s value is not taken into account, meaning the full cost of replacement is covered. With ACV, your roof’s depreciation is taken out of the compensation. Knowing what your policy offers will give you an idea of what to expect from a payout.
Paying the Deductible and Understanding Exclusions
Before you can expect any money from your insurance company, you need to pay your deductible toward repairs. Depending on your homeowner’s insurance policy, you may not be covered for some types of damage. If an exclusion causes the damage, your policy will not cover repairs.
Do You Need an Attorney to Help You Through the Roof Insurance Claim Process?
If you are confused by the roof insurance claim process, do not wait to get the help you need so you can fix your home and move on with your life. Got any questions? Get in touch with the insurance experts at RRBH Law today.