If you’re going through your insurance company, and you’re wondering what roof replacement deductibles are, it’s actually a fairly simple concept. The deductible is a specific amount of money that you’ll pay toward the cost of your insurance claim if you need to replace your roof. For example, if your roof replacement costs $8,000 and your deductible is $1,500, your insurance provider will pay $6,500 of the total expenses while the $1,500 will be shouldered by you. But some homeowners may still be wondering how exactly is the deductible calculated.
When you need a roof repair or replacement project, your contractor may offer to pay for your deductible or at least offer discounts that can offset it. While this may sound like a dream come true, you may want to avoid this as this is illegal in some states. A general rule of thumb is that any information regarding your deductible and insurance policy should be kept between you and your insurance provider.
Any cause of damage to your property is referred to as “perils” by the insurance industry, and some insurance providers structure their policies with an “all peril” coverage. Some even have an extended coverage clause that covers wind and hail damage as well since they’re the most common cause of roof replacement projects. If you have this kind of policy, a single deductible applies to all the covered damage. Since your insurance policy may differ from your friends and family (because they got theirs from a different provider), always make sure to check your policy’s fine print for clarification.
Make your search for a roofing company easier by turning to Benjamin Brothers Construction. We are your number one provider of roofing and siding services. Give us a call at (847) 264-4492, (402) 261-0652 or (480) 269-9832. You can also fill out our contact form to schedule an appointment with us.