Most homeowner have high deductible to pay less monthly or less deductible to pay more on monthly basis. Who is the winner in this case? If your estimated roof repair cost is 800$ and deductible is 500$ what is your best option? You will make the payment to the roofing company and submit it to your insurance company. Normally it might take 2 week for you to receive the payment. You paid 800$ and received a cheque for 300$ because your deductible was 500$. If your deductible was 250$ than you will get 550$ from the insurance company. After your claim was processed and settled with, how much more are you paying for your home insurance?
So the bottom line is that you will pay back whatever the amount you got from the insurance company with interest. Insurance is a great option for home and business owners to have just in case there is a disaster or fire to protect your investments. How much richer do we make the insurance companies with all these small claims? They are getting paid from every home, auto and business owners millions of dollars in revenue. Insurance is the most effective and legal scamming business out there.
Always think for the possibilities for the long run, is it cheaper to pay your roofing contractor directly or make claim for it and increase your monthly payments for 3 years. Having a trusted roofing company on your side is a must. If you tell the roofing contractor that it is going to be a insurance claim, they will take advantage of the situation and over charge you for the repairs. Shop around, get few different quotes and compare it before jumping into a conclusion.
Contact us for all your questions or concerns if you have any and we will be more than happy assist you. We offer free consultation over the phone.