so when ya get a roof redone, is it typically done "for insurance proceeds" ie, you pay deductible and all the money goes to roofing company?
Yes. We are saving extra $$$ to have more added on. Typically, the estimate runs higher from the ins company than the roofer. I have a guy that is good and honest. Good workmanship, local dude. Many will eat the deductible.
Our insurance company estimated $10k on our roof. Our roofer's was $7800. The check from the insurance was just over $6k, but they write any difference, less the deductible when the job is done. Savy?
We have and older policy, so we have total replacement.
Our insurance company estimated $10k on our roof. Our roofer's was $7800. The check from the insurance was just over $6k, but they write any difference, less the deductible when the job is done. Savy?
We have and older policy, so we have total replacement.
ya, thats kinda what i thought. youre talkin last week dave is what got me thinkin otherwise when i had a roofin salesman acquaintance over last week...
If you find a roofer to do your roof for less than insurance proceeds, they usually do a sub-par job with sub-par materials.
Don't be a cheap skate, and get the best roof that your insurance will pay for. If you don't, you are just short changing yourself.
Insurance is supposed to be used to replace the roof, not put money in your pocket. If you take a check for your roof without a reliable roofing company involved, the insurance is more than likely not paying out as much as it should.
Most people don't understand how depreciation works. You don't get paid on the depreciation until the roof is completed, and the insurance co., is billed, usually by the roofing co.
They will only pay out what it actually costs to replace the roof, no more. If you or your roofer tell the insurance that it cost more than it actually did, that is what is called insurance fraud, and it comes with severe penalties.
A lot of people will settle for a crappy roof job just to put a couple of bucks in their pockets, then they wonder why their roof doesn't last very long.
Like most things, there is a right way, and a wrong way to getting your roof replaced.
Good luck with your roofing adventure.
Don't be a cheap skate, and get the best roof that your insurance will pay for. If you don't, you are just short changing yourself.
Insurance is supposed to be used to replace the roof, not put money in your pocket. If you take a check for your roof without a reliable roofing company involved, the insurance is more than likely not paying out as much as it should.
Most people don't understand how depreciation works. You don't get paid on the depreciation until the roof is completed, and the insurance co., is billed, usually by the roofing co.
They will only pay out what it actually costs to replace the roof, no more. If you or your roofer tell the insurance that it cost more than it actually did, that is what is called insurance fraud, and it comes with severe penalties.
A lot of people will settle for a crappy roof job just to put a couple of bucks in their pockets, then they wonder why their roof doesn't last very long.
Like most things, there is a right way, and a wrong way to getting your roof replaced.
Good luck with your roofing adventure.
This is right on. Once the job is done, the recoverable depreciation is paid.
Exactly. That's why we got a check for $6K and not $10K. We got a letter with the breakdown, explaining that the 2nd check will be issued after the roof is completed. Our roofer is a square guy, and explained how it worked. This is why we are saving extra for the add on. We are paying for it, not the difference of the insurance.
He used to work for our insurance company as an adjuster. Good dude.
Check on getting Class IV Impact resistance shingles if you are planning on staying in the house. They cost more, but you can save the difference in 3 to 4 years in most cases. Be sure and check with your insurance agent. Mine were $1200 more, but I am saving almost $400 a year in my premiums.
This is absolutely right. I wish I would have known before we had our new house roofed.
ooooooooh, ok, thanks guys. i was just worried my buddy was a fly by night. never came across this situation, so i was in the dark like a boy scout and.....something i dunno
