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Types of Policies

A few final thoughts on your insurance claim paperwork and your deductible…

If you have homeowners insurance, you roof is covered.

There are two primary types of policies, REPLACMENT COST VALUE and ACTUAL
COST VALUE.

Every policy has a deductible…

The deductible is the portion of your claim that is not covered by your insurance
company.

You are responsible for your deductible which will be a specific amount… ($500, $1000,
$2000 etc.) or a percentage of your home value (usually1% 2%)

After the adjuster has been out to your home it takes around 2 weeks to get your first
check.

If your estimate for roof replacement is LESS THAN your insurance (first check = actual
cost value plus second check = depreciation) you can not keep the money.

You may be committing insurance fraud if you submit an invoice for insurance
replacement work that is inflated.