My roof is 15 years old, and I’ve lived in this home for 26 years. Never had to file a claim before, but a Category 3 hurricane hit directly, and around 40 shingles came off, with some others looking loose.
I’m debating if it’s worth filing a claim. Will the insurance just tell me to fix the shingles that flew off? My main worry is that the claim might get denied, or even if it’s approved, my rates will shoot up, or worse, my policy could get canceled.
I’m leaning towards filing because I figure rates will go up regardless since the hurricane did a lot of damage in the area. I’ve been paying into this insurance for years, around $60-75k over time, and they haven’t had to pay anything out to me yet.
The deductible for hurricane damage is $5k. Any advice would be appreciated!
If you’ve got replacement cost coverage, you’re in a pretty good spot. Given the age of the shingles, they might not be able to repair them, and that could mean a full roof replacement. Typically, they pay in two parts: first, the actual cash value minus the deductible, then the rest after depreciation is covered.
Not sure what’s in your policy, but it’s probably a good idea to talk directly to your insurer or broker. The key thing is to take steps to prevent further damage as soon as possible. I work with similar claims, though I’m based in Canada, so the process might differ a bit. Still, reaching out to your insurance to clarify your coverage is probably the best move.
It’ll mostly depend on your policy and if your roof is up to code, especially since it was installed around 2009 or 2010. If you have a matching endorsement, you might be in good shape. Most insurers look for about 75% of the roof to be damaged to approve a full replacement. Less than that, and they might just cover repairs.
If your policy is actual cash value instead of replacement cost, they’ll factor in depreciation, which could leave you paying more out of pocket. Check your policy to see what’s covered, and consider getting an estimate for repairs before deciding.