1. Your insurance company CANNOT cancel you or raise your rate for filing a storm related claim. You may file as many storm related claims as necessary with no penalty allowed from your insurance company. It is a violation of the law for an insurance company to penalize you for claims due to acts of God. If you live in an area that was hit with a damaging storm, the rates for everyone in your area can go up, but you cannot be targeted individually for a rate hike. So file your claim while you can. Your rate will likely go up whether you file or not.
2. Most insurance companies will discount your rate for having a newer roof because it is less likely you will need to replace the roof any time soon. Your home is better protected from loss. While you may see an increase in the next renewal, due to the storm in your area, the following year, you will probably see a decrease the next time around.
3. If you decide to try to save money by hiring cheaper labor or friends or family who are not professional roofers and properly trained, your warranty on the shingles can be voided. If you call the shingle company for a warranty issue, they will send an inspector to inspect the installation. If not done to shingle manufacturer specifications, they will not warranty the shingles. Saving money now can cost you a lot of money in the future!
4. Never EVER have your insurance adjuster inspect your roof without a professional roofer present. The adjuster is going to be looking out for the insurance company. After a major storm, you can have new adjusters who are not experienced inspectors. A roofer will be working for you in order to make sure that your claim is maximized. You pay a lot of money to insurance every year. Make sure you get everything you have coming in your claim.
5. Saving money on your insurance policy can be an expensive and possibly very emotional mistake in the future. There are two kinds of policies. Replacement Cost Value or RCV, which pays the total cost of replacement of your roof and other items damaged by hail or other natural disasters. If you don’t have this, you need to upgrade it now. If you have an Actual Cash Value or ACV policy, your insurance will only pay the amount to replace your roof or other items based on their age. For instance, if you have a 20 year shingle and your roof is 10 years old, insurance will only pay 50% of what it costs to replace it. No depreciation is paid on an ACV policy. In many cases, this does not pay enough to get the job done and you end up paying out of your pocket. Saving a few hundred dollars now could cost you $5,000, $10,000, $20,000 + the next time you have a weather related claim. If your insurance pays an ACV amount and the work is not done because you didn’t have the money to replace your roof, and you don’t have it done, insurance will not pay for the replacement next time you file a claim. Your roof protects your biggest investment. DON’T TAKE A CHANCE ON LOSING EVERYTHING TO SAVE MONEY NOW!