Most policies are Replacement Cost Policies (RCV Policy) so the most common answer would be your deductible. If you have an Actual Cash Policy (ACV Policy), that would mean that any depreciation on your roof would be NON-RECOVERABLE. It would be a good idea to verify this information before moving forward with a claim because it can cause your out-of-pocket cost to increase exponentially (especially if your roof is old). The only way it could end up costing you more than your deductible is if you decide you would like an upgrade to your current roof (because the insurance will only cover the replacement of the same grade material as currently installed).
Roof Insurance Fraud
Unfortunately, the roofing industry is full of uninformed and unscrupulous contractors willing to go to any lengths to make a quick buck. These dishonest practices include the employment of subpar, untrained crews, the use of substandard material or the reuse of old damaged materials and defrauding the insurance company by “eating” or “waiving” a customer’s deductible.
The practice of “waiving” the deductible is all too common but that makes it no less criminal. Every homeowner needs to know that this act of insurance fraud is not a one sided affair however. If you enter into such an agreement with a contractor, you in turn are just al liable as they are for any convictions and penalties that arise from the fraud. Always contact your insurance company and know the laws before entering into any type of contract and unintentionally committing a crime.
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