Can You Keep Insurance Claim Money for a Roof? It is your money, so yes, you can do what you want with it. But it is better to make use of the money responsibly. Well, the answer gets much more complicated, though, if a mortgage company has an interest in your home. It will be your decision whether you do the home repairs, hire a third party to do them, or don’t do any repairs.
Furthermore, if you have a mortgage company, the insurance carrier will also list them on the insurance claim settlement. Home insurance carriers commonly underpay property damage by at least ten thousand dollars, even if you do not make the repairs.
Can You Keep Insurance Claim Money for a Roof?
Yes, you can keep the insurance claim money for the roof as long as you have coverage. In most cases, your mortgage company will let you do the work yourself. Still, the amount of supervision they want to provide will vary depending on the severity and complexity of the damage and the balance owed on the mortgage.
Your mortgage company is more likely to not care if the work requires relatively little skill, like cleaning up debris. Still, if your home damage repair is highly technical, there will likely be more involvement, i.e., plumbing.
Can you keep your Homeowners’ Insurance Claim money?
As long as it is not stated in the insurance company policy you can keep the leftover money. The payout for a home insurance claim can help cover the cost of repairing your home or replacing furniture or appliances. Insurer companies send a claims adjuster to assess the damage to determine the payout amount.
If you understand that your home insurance policy can provide in the case of extenuating circumstances, it can give you the confidence that normalcy can be restored.
What do you do with an Insurance check on a roof claim?
If your roof has been damaged by hail or windstorms, you may need to make an insurance claim to get your roof fully repaired. That is what your homeowner’s insurance covers. There are certain procedures your insurance company will follow:
- Contact Louisiana Roof Crafters to schedule a free onsite roof inspection to determine if you have damage to your roof.
- If roof damage is found, they will help you file a claim with your insurance company. They can provide all of the appropriate phone numbers for your convenience!
- Your insurance company will authorize any necessary temporary roofing repairs at that time to prevent further damage to the interior of your home. We will provide all receipts for their files after performing the work.
- Your insurance company will then send an adjuster to perform an inspection of the damage. He will issue you a first payment along with paperwork outlining the repairs to be made. (See below for more information on this subject.)
- Once we receive this paperwork from you, Louisiana Roof Crafters will be able to begin performing the repairs. We can do everything outlined in the paperwork.
- After all the paperwork is completed, we will provide all the necessary paperwork to your insurance company in order to have the final check released. At this time, payment will be due for the work completed.
- After you are paid in full and upon your request, we will upload your roof warranty along with a paid-in-full receipt to your SSA client portal provided by Louisiana Roof Crafters. We are glad to help with any roof claim paperwork that you need.
Those are the things you do with an insurance check on the roof.
What Do Insurance Adjusters Look for on Roofs?
Insurance adjusters investigate the causes of roof damage. Well, if they are inspecting a roof that has been damaged by a hurricane or fire, the main focus is to verify that the disaster is what caused the damage. Moreover, if the insurance company requests an assessment due to other factors, the adjuster’s inspection may look very different. In this case, the adjuster looks for three things:
The Age of the Roof – it can be a subject of the roofing inspection if the roof is up to 20 years. This is because older roofs are a liability. In some areas, older roofs in coastal are highly vulnerable to damage. Insurance companies need to assess older roofs to determine whether the risk is too high to continue coverage.
The adjuster may recommend that the insurer raise your rates if you have an old roof. Adjust will adjust your coverage, or cancel your policy.
Proper Installation and Maintenance: If your roof was installed or repaired improperly, it could cause problems that cost the insurance company thousands of dollars in claims.
Insurance adjusters can identify an improper installation and cite issues that range from code violations and outdated materials to safety issues or failing to install the roof according to manufacturer specifications. An adjuster can also quickly tell if you have neglected your roof.
Visible Signs of Internal and External Damage: While some signs of damage are evident, other signs may be more difficult to spot. Insurance adjusters perform in-depth inspections to identify problems that you or a roofer may have missed. Some of the most common issues that adjusters look for include:
Do Insurance Adjusters Climb on Roofs?
The adjuster would take photos of damaged areas if they chose to climb on top of the potentially dangerous roof, take notes, and measure the areas of concern. Every roof is different, and in fact, some roofs might be precarious enough to prevent an adjuster from inspecting them at all.