Understanding Your Roofing Insurance: Key Policy Changes to Watch Out For

Protecting your home is a priority, and your roofing insurance policy plays a crucial role. However, it’s essential to carefully review your policy at each renewal, as changes can occur that might affect your coverage. Here are some key points that homeowners should be aware of when it comes to their roofing insurance.

Key Changes to Watch For:

Estimates and Inflation Adjustments:

• Fixed Estimates: Some insurance companies fix the payout based on the estimate value at the time of the claim, without adjusting for material price increases. Given the frequent price hikes in roofing materials, typically twice a year, this can result in significant out-of-pocket expenses for homeowners.

• Inflation Impact: Without proper adjustments for inflation, the reimbursement you receive might not cover the full cost of repairs when the time comes.

Age of Roof and Actual Cash Value (ACV) vs. Replacement Cost Value (RCV):

• Roof Age Clause: If your roof is over 15 years old, your insurance company may only cover the actual cash value (ACV) instead of the replacement cost value (RCV). This means they will pay based on the depreciated value, which is often much less than the cost of a new roof.

• Impact on Claims: For older roofs, this policy can lead to significant financial gaps when you need to replace your roof after damage.

Cosmetic Damage Exclusions:

• Cosmetic vs. Structural Damage: Some policies now exclude coverage for cosmetic damage, such as dimples in gutters or other metal elements of your roof. While these might not affect functionality, they can impact aesthetics and potentially the value of your home.

• Policy Fine Print: Always review your policy for these exclusions and understand the implications. Insurers rely heavily on the fine print when settling claims.

How Lowrie Roofing Can Help

At Lowrie Roofing, we understand the complexities of navigating insurance claims. Our unique expertise, combining over 14 years of roofing experience with our status as licensed insurance adjusters, allows us to advocate effectively on your behalf.

• Transparency and Documentation: We ensure every detail of the roofing process is documented and transparent, supporting your claims with clear evidence.

• Proactive Approach: Our team stays up-to-date with city codes and industry standards, ensuring all work complies fully with current regulations.

• Customer Education: We believe in educating our customers about their roofing projects. From start to finish, you'll receive detailed photo documentation, ensuring you know exactly what work has been done and why.

Protecting Your Interests

• Fair Pricing: Using Xactimate, a system accepted by all major insurance companies, we ensure transparent and agreeable pricing.

• Advocacy for Full Restoration: We advocate for comprehensive restoration, not just temporary fixes, ensuring your property is returned to its pre-damage condition.

Free Roof Inspections

Start with a FREE Roof Inspection by contacting us today. Our thorough inspections and drone technology provide clear, accurate assessments of your roof's condition, ensuring you’re fully informed about any necessary repairs and how your insurance policy can help.

Contact Lowrie Roofing:

• Phone: (844) 767-2524

• Email: [email protected]

• Address: 14365 Foothill Rd, Golden, CO 80401

Protect your home and ensure your roofing insurance policy provides the coverage you need. Let Lowrie Roofing be your trusted partner in navigating your insurance claims.