Roof Repair Costs and Insurance Reimbursements
The cost of repairing your roof depends on the type and amount of damage as well as the type of roof you have. On average, homeowners spend $400 to $1,500 on moderate roof repairs, with roofing companies charging roughly $45 to $75 per hour for labor.
When faced with roof damage, your first instinct might be to let your insurer foot the bill. But keep your policy’s deductible, your dwelling coverage limit, and the type of coverage you have in mind before you file an insurance claim.
Most home insurance policies have a deductible of around $500 to $1,000. Homeowners insurance companies typically don’t reimburse a policyholder’s claim when the repair costs are lower than their policy’s deductible. Plus, your filing claims can motivate your insurer to increase your premiums or to not renew your policy. So when it comes to cheaper roof repairs, you’ll be better off bypassing your insurer and hiring a roofer yourself. You may be out a few hundred dollars, but that’s better than risking your insurance coverage over a low-cost repair.
Your insurance coverage will really prove its worth for more expensive roof damages. But when you’re waiting for your reimbursement, you might want to revisit your policy to see what type of payout to expect. Replacement cost policies will cover the full cost of damages up to your coverage limits, while actual cash value policies will only pay to repair your roof or personal property based on its depreciated value. If your policy covers your roof replacement or repair, your insurance company will subtract your deductible from your payout, regardless of the type of policy you have.
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