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Insurance Repair Services | Damaged Roof

A True Story

Do you really know what your
Homeowners Insurance Policy covers?

In 2014 a client of ours had storm damage on their home in Monroe, La.  They had the same insurance policy for about 13 years.  Never had a claim, never agreed to any changes to their policy and never even discussed any changes with Local Insurance Agent. The policy they purchased had a fixed $500 deductible,

And full replacement cost on the home, roof, contents etc…  That means when a storm hits their house and tries to take the roof off, they pay $500 deductible, we work with insurance company to put their home back to pre-storm condition and insurance company pays the rest

They should have been out of pocket $500 and Insurance Company pay the rest.


Through the years the deductible had risen to the point the current policy has a 1% deductible of the homes insured value.

In this case the home was over insured because the Insurance Company raised the value each year at renewal.  Their home was now insured for $440,000.

Their deductible is now $4,440.00   Policy Shock!!!!!!!!!!!!!!!

In addition to that, at renewal a few years back, they slipped an amendment into the policy that made the roof covered for Actual Cash Value.  ACV is the term used.  That means for the roof, it no longer has full replacement cost.  Policy Shock II!!!!!!!!!!!!!!!!!!!

The roof was a laminated shingle that has a life expectancy of 30 years.  Known around town as Architect Shingles.

The shingles were the same age as the policy, because Insurance Company wanted a new roof put on the home at policy purchase to give Full Replacement Cost on the new policy.  That included full replacement on the roof if damaged from a covered peril.

Due to the fact the shingles had a 30 yr. life expectancy and they were 13 years old, the Insurance depreciated them 40%.  Wowwww…..

Now in addition to the $4,400.00 deductible the homeowners had to come up with, another $4000.00 (40% depreciation) was deducted from the claim for depreciation.

 When the claim was made, the homeowner expected to pay $500 and everything else be covered by the Insurance Company.  Over time, policy had changed at renewal and know they were out of pocket $8,400 before insurance paid a penny. Yes $8,400.00 out of pocket with the only way of knowing this was happening was to read the policy word for word top to bottom every year it renewed.

Granted that makes good sense to read policy. Most people can read it but still can't determine what is covered and for how much. My advice is to use a good insurance company, get to know you're agent and every year at renewal contact them to explain any changes in your policy.

Insurance Repair Services will be offering free seminars to any homeowners that want to learn more about your insurance policy and how not to have something like this happen to you.

You can contact us by clicking the button above!