After you make a roof claim in New Orleans the insurance company claim rep will provide you an estimate to replace your roof and the company will issue a check
But the claims check will not be for the full amount to replace your roof
It will have an amount that is deducted from the estimate
This is depreciation based on the age of your roof
Your first check will include a deduction for depreciation
It is ok to deposit your first claim check
This does not close your claim or prevent you from recovering the full amount to replace your roof
The second check you receive is called recoverable depreciation
In order to get the second check you must show the insurance company you replaced your roof
You can send photos and an invoice to your insurance company claim rep and they will issue the remaining amount needed to get your roof replaced
You must have Replacement Cost on your policy to receive the second claim check
Some insurance companies do write new homeowners insurance policies and place an ACV (actual cash value) endorsement on the policy
So check with the best insurance broker to determine if your have a replacement cost policy
If you have an ACV endorsement your roof claim check will be based on depreciation calculated on the age of your roof
The older your roof the more the insurance company will deduct from your claim check and you will not be eligible for the second check which is recoverable depreciation
THE BEST HOME INSURANCE COMPANIES NEW ORLEANS
Not all insurance companies will pay for roof replacement after a hurricane
Some only pay for repair or replacement of missing shingles
If you need to find an insurance companies that pays for roof replacement at FM Agency Group we work with over 20 insurance companies as the best insurance broker in New Orleans and we can let you know which companies responded the fastest and paid for roof replacement after a hurricane
Not all insurance companies are the same
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