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I recently had my roof replaced, and my insurance company said it should cost a certain amount and sent me a check minus my deductible. They also said that if the cost went over their initial estimate, I should let them know, and they would file a variance for the claim. This shows that insurance companies do have a process for handling roof replacements due to damage.
The reason insurance companies often do two checks and not one is to ensure the work is actually completed and to reconcile the final cost. If your contractor ends up charging less than the initial insurance estimate, the second check you receive will likely be for a smaller amount. So, you won’t necessarily get to keep the difference to cover your deductible unless your roofer’s actual cost is significantly less than the insurance estimate minus the holdback.
As an insurance agent of 12 years, I can tell you that the impact of a claim on your premiums isn’t always predictable. I’ve seen people get dropped for just one hail claim, and others have had three claims and remained insured. Every insurance company and situation is different, so there’s no guarantee your premiums won’t go up.
When dealing with insurance, make sure to get everything in writing. This includes the scope of work, the estimated costs, and any agreements with the contractor. Without proper documentation, it can be difficult to resolve any disputes or discrepancies that may arise during or after the roof replacement.
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