Roof Replacement Deductible: What Is It and How Is It Calculated?

by | Jan 19, 2021 | Blog


A deductible refers to the amount of money that a homeowner pays toward the cost of an insurance claim, for instance, a roof replacement from storm or hail damage. So, if your new roof costs $7000 and your deductible is $1500, your insurance provider will pay the remaining $5500 for the roof. In this article, one of the leading local roof repair contractors in Georgia discusses roof replacement deductibles and how to calculate them.


Damage-Specific Deductibles

Usually, insurance policies cover all perils — a term used to describe events, situations or incidents that cause property damage or loss. Your policy may also come with extended coverage, which includes damage from wind or hail. A single deductible amount covers all kinds of damage for these policies. It is important to know what your policy entails and how to apply deductibles to your roof replacement project.

Contractor Discounts

In some cases, roof replacement contractors offer to pay the customers’ deductibles or supply discounts or allowances to cancel out deductibles. In the roofing industry, this practice is highly discouraged and even illegal at times. Be sure to keep the details about your deductible between you and your insurance provider.

Deductibles Don’t Cover Add-Ons

To determine the cost of your roof replacement, add your deductible to the extras or upgrades that are not covered by your insurance claim. Normally, the adjuster will present the market price for having the damaged roof replaced with similar material. If you want to upgrade your roof and choose a product of higher quality, you will have to pay for the price difference.

Deducting the Deductible

Roofing experts recommend consulting with your tax adviser to determine if your roof replacement deductible is tax-deductible. There is a good chance that you will be able to save a significant amount on next year’s tax returns if you adhere to this precaution.

Hero Roofing is a premier source of roof replacement and storm damage roof repair solutions in and around Newnan, GA. Our experienced team is committed to providing the comfortable and efficient living space every homeowner deserves through industry-leading products and services. Call us today at (833) 321-4376 or fill out our contact form to schedule an appointment.