Houston: 832.617.4037 | Austin: 512.298.2944
Areas We Offer Help With Insurance Claim Roofing
Houston Location:
Austin Location:
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Houston
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Cypress
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Spring
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Humble
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Sugar Land
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Jersey Village
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Atascocita
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Missouri City
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Galveston
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The Woodlands
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Katy
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Richmond
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The Heights
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Tomball
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Conroe
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Bellaire
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Pearland
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League City
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Austin
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Round Rock
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Cedar Park
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Leander
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Bastrop
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Manor
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Lakeway
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Manchaca
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Jollyville
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San Antonio
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Pflugerville
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Georgetown
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Dripping Springs
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San Marcos
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Sunset Valley
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Buda
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Lago Vista
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Temple
And Other Surrounding Areas
And Other Surrounding Areas
Example Of Roof Insurance Claim
As an example:
-Your home is insured for $300,000 and has a roof totaled from a Texas hail storm.
-The cost to replace the roof (Replacement Cost Value) is $19,000.
-Let’s say the roof is 10 years old (25% depreciated if expect a 40 year roof life)
-The policy owner’s deductible is 1% of the insured amount ($3,000).
RCV Policy:
Total Replacement Cost: $19,000
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Deductible: - $3,000
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ACV: $12,000
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Recoverable Depreciation: $4,000
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Total Payout From Insurance: $16,000
(ACV + Recoverable Depreciation)
Your entire out of pocket expense for a brand new roof in this example would be just your $3,000 deductible.
ACV Policy:
Total Replacement Cost: $19,000
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Deductible: -$3,000
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ACV: $12,000
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Non-Recoverable Depreciation: -$4,000
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Total Payout From Insurance: $12,000
(Replacement Cost-Deductible-Depreciation)
While RCV policies are the more common policy, this is why you want to ensure you have a RVC policy if you'd like to be better covered from events like hail or strong storms. The total out of pocket expense in this example would be $7,000
Roof Insurance Claim Terminology
This is what hail damage looks like on a shingle roof
Wind damage that ripped shingles off the roof
Deductible – An insurance deductible refers to the predetermined amount of money an insured individual must pay out of pocket before their insurance provider starts to cover the costs of a claim. If your deductible is $500 and the value of your claim damage is $7000, then the amount the insurance company will pay in this instance is $6500.
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Replacement Cost Value or "RCV" - Replacement cost value in insurance refers to the amount of money necessary to replace or repair damaged property with materials of like kind and quality, without deducting for depreciation. This coverage typically ensures that the policyholder receives adequate compensation to fully restore their property to its pre-loss condition.
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Depreciation - Depreciation refers to the decline in value of your roof over time due to factors like wear, aging, and deterioration. For instance, if your roof has been in place for 10 years out of a 40-year expected life span, the depreciation would be calculated at 25%.
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Actual Cash Value or "ACV" - The cost to replace with new property of like kind and quality, minus any realized depreciation. The settlement amount will be that # minus your deductible.
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Recoverable Depreciation - The portion of the depreciated value that can be reimbursed by your insurance provider on the back end after the work is completed under a policy with replacement cost coverage. Typically, such claims are settled by the insurer in two installments (ACV & then after work is completed Recoverable Depreciation).
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Click here to read more about what roof storm damage entails​.
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Worried About Out Of Pocket Costs?
We Offer Financing!
At Martin Roofing and Solar, we understand that a roof replacement in Houston and Austin can be significant investments for homeowners. That's why we offer tailored financing solutions to make the process more manageable and affordable. Our flexible options come with transparent terms, competitive rates, and a streamlined application process, ensuring that you can access high-quality roofing services without financial stress. With fixed monthly payments, convenient online access, and expert guidance from our team, financing your roof replacement has never been easier in Houston or Austin. Trust Martin Roofing and Solar to provide the support you need to invest in the protection and longevity of your home.
Do NOT Allow Your Contractor to “Pay the Deductible”
Homeowners occasionally run into contractors who offer to cover their deductible in order to win the job. While this seems like a great deal you’d want to jump at, it’s also too good to be true because it’s actually illegal – more specifically, it’s insurance fraud that’s punishable by both a felony and fines for both the contractor and the homeowner.
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This "sales tactic" is a major problem. If another contractor is telling you they can just outright waive your deductible, they’re committing insurance fraud (HB2102 Texas law) and they may unfortunately be having you do the same unknowingly. If they are caught, you can imagine how much the warranty they offered you will be worth, on top of who knows what other corners they may be cutting when installing your roof. Find a trustworthy roofer that does things the right way!
Will Filing An Insurance Claim For Storm Damage Raise My Rates?
Under Texas law, insurance companies are prohibited from increasing rates or imposing penalties for events classified as "Acts of God." (such as hail or wind damage). Therefore, a homeowner should not have any fear when filing a claim for storm damage. This is why you pay premiums in the first place! A new roof should actually lower your premiums!
What Will It Cost To Have My Insurance Come Out & Take A Look?
Having a roof inspection done doesn't cost anything, and it's an essential step in ensuring your home's protection. At Martin Roofing and Solar, we offer complimentary roof inspections to assess any potential damage, including storm-related issues. If damage is found, you can schedule a time for your insurance company to come out and assess your roof free of charge. Don't wait until problems escalate—schedule your free roof inspection today and take proactive steps to safeguard your home.
If I Get A Quote For Cheaper Than Insurance, Can I Keep The Difference?
No, if you have a RCV policy and are trying to recover depreciation, your insurance will ask whatever company replaced your roof for both proof of completion and a final invoice. If the roofing company's invoice is cheaper than the insurance company's scope of work, they will just send the corresponding amount less in the recoverable depreciation. You may risk getting a lesser quality cheap roof just to save your insurance some money if you attempt this. If a roofing company offers to send your insurance a false final invoice, this is once again a clear infraction of Texas law HB2101 and insurance fraud punishable by both a felony and fines for both the policy holder and the contractor.
Understanding Replacement Cost Value "RVC" VS. Actual Cash Value "ACV" Insurance Policies
In response to recent severe weather incidents, such as the significant hailstorms witnessed in Texas last year, insurance companies have adjusted their policies in areas like Houston and Austin. Some insurers now lean towards providing Actual Cash Value (ACV) rather than Replacement Cost Value (RCV) in their new policies. ACV coverage factors in the present value of your roof during the claim, considering its age and condition, which may fall short of covering full replacement expenses.
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On the contrary, RCV coverage disregards depreciation and covers the entire cost of replacement following a covered event. Although RCV typically comes with a higher premium, it ensures you won't face additional expenses beyond your deductible in case of damage. However, for those in Houston and Austin with older roofs, an ACV policy might not suffice for a full roof replacement, highlighting the importance of securing RCV coverage for comprehensive protection.
Best Storm Damage Roofing Company in Houston & Austin
We are constantly aiming to be the best roofing company in Houston and Austin. Whether your roof has sprung a leak or you'd like help with the insurance process after a hail storm, Martin Roofing and Solar is here to assist. We provide reliable roof repair services in Houston and Austin, offering complimentary roof inspections and estimates at your convenience. Our experienced team conducts honest and thorough assessments, identifying issues like missing shingles or dents, and provides cost-effective price quotes for necessary work. With expertise in storm damage roof replacements, we prioritize ensuring our customers receive the best customer service possible, customizing your solution to fit your needs and budget. Our roofing systems deliver superior protection and durability, promising years of dependable performance for your home. As members of the Houston and Austin communities, we are also committed to giving back, supporting local charities and sponsoring local non-profits. With a focus on excellence and community strength, we're more than just roofers—we're builders of trust and resilience. Martin Roofing and Solar is proud to maintain glowing reviews from satisfied customers as a Google Guaranteed roofing company. Additionally, we offer flexible financing options for qualifying credit, ensuring that cost is not a barrier to securing a safe and sturdy roof. Don't let roof issues or potential leaks linger— contact Martin Roofing and Solar for expert assistance and peace of mind!