Repairing a roof leak isn’t something to take lightly.
Untreated, a roof leak can cause expensive damage to homes and property. If fixing a leak isn’t in question, how to pay for it is. Do you pay for your roof repair completely out of pocket or do you file an insurance claim? The decision isn’t so simple.
Don’t I Have Insurance to Fix Stuff?
You might be wondering why you wouldn’t file a claim. Isn’t that why you pay those premiums? While this is a reasonable position, you’re better off considering insurance as something to help pay for some repairs—not all.
Why Should Insurance Be Used to Pay for Only Some Repairs?
Your policy requires you to pay monthly premiums and to pay a deductible. The deductible represents the repair costs you pay before the insurance pays anything. The premium and the deductible are how your insurance company leverages the risk they have in paying for repairs. The riskier you are, the higher your premium will be. Once you start filing claims, regardless of their costs, you are considered a higher risk to the insurance company.
When Should I File a Claim?
- Would the cost of repairs be greater than your deductible by a significant amount? If so, you should probably file a claim. Significant and/or expensive damage should be your definition for which repairs require an insurance claim. Minor repairs less than your deductible or slightly above aren’t worth claiming. You won’t get help paying the costs and could see a premium increase.
- Is this your first claim in the last ten years? You’re safer filing a claim if you’ve filed few or no claims in the past. Insurance companies don’t expect you to be perfect, and some promise not to raise your rates for a first-time claim.
- Is the damage due to negligence or poor maintenance, or was it damaged by something not covered under your insurance policy? If so, then you shouldn’t file. The insurer won’t pay for repairs, but they’ll still raise your premium.
Whether you file a claim or not, get the leak fixed. But before you make your decision on filing, seek the advice of a dependable roof repair contractor. Pro Roofing & Siding has earned numerous awards for its remarkable service and expertise. If you have questions about your roof and/or an insurance claim, please contact us.