While it is not yet a common practice, some homeowners insurance companies are now requiring their customers to have roof inspections done. This is the topic of a recent Q and A with Jack Hungelmann at Bankrate.com entitled Why do I need an insurance roof inspection?
A reader wrote in and stated that her home insurance company threatened to cancel her policy if she did not have a roof inspection done by a licensed roofer, the results of which were to be submitted to the insurance company. Since she had never seen anything like this, she was confused.
Jack Hungleman responded that home insurance companies have paid out millions for roof replacements in the past decade. Many policies currently pay out full replacements costs for roofs that have been damaged by weather-related events. This is true even if the roof was very old and nearing the end of its lifespan.
To save money, some home insurance companies are now offering only actual cash value (ACV) coverage for roof damage. This means that instead of covering the full cost of replacing your roof, they will provide you with compensation only in the amount of the actual, depreciated value of your current roof. A roof inspection will enable them to calculate the ACV of your roof.
You can learn more by reading the full Q and A here.
If you live in the Chicagoland area and your home insurance company has required you to have a roof inspection, you can call the experts at Baltic Home Improvements. We will inspect both the interior and exterior of your home for problems and provide you with a full written report of the damages. Best of all, if we discover evidence of storm damage during the inspection, we can work with your insurance company to get you the coverage to which you are entitled. Contact us today to learn more.
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