Home Owners Renters – My Home Has Suffered Fire Damage, What Should I Do?
It can happen to anyone. You could be at home in bed, or you could be out on the town. Fire blazes through your home, utterly torching just about everything you own. Years and years of family history lost, and you don’t know what to do. Yes, this is going to be hard, especially in the beginning, but eventually the shock will wear off and you’ll need to figure out what the next course of action is and how you can start rebuilding your life.
Find Out How Much Your Roof Deductible Will Be
Many policies have separate policies for wind and hail damage to your roof. For example, a claim filed because of a hail storm would have a different deductible than a claim filed for a slab leak. You’ll have to look through your paperwork to find out. Look for the words “storm” or “hail” or “wind” deductible. These deductibles can be as low as $250 and up to several percentage points of your home’s value (e.g. 1%, 2$, even up to 5%).
Not that your roof deductible should matter, but the truth of the matter is that it does matter. If you’re deductible is 5% and your home’s value is $350,000.00, you’ll be stuck with a $17,500.00 deductible. While it is possible that your roof could cost more than $17,500.00, it is unlikely that you’ll realize much benefit from filing the claim unless you have an extremely expensive roofing product like slate, stone-coated steel, aluminum, slate or a heavy shake wood roof.
-The Items in the House: On top of the cost of the house, many insurance agencies will actually replace the value of the items that were within the house when it was destroyed. You will need to make a list of everything you had so that you can replace it.
-Repairs: Naturally, the company is going to want to know who you have in mind to repair it. In most cases, they will already have someone in mind, but if you can find someone that they approve of, you may be able to go ahead and use that person.
You might think that it is slightly unfair that you cannot choose the person to work on your house, but the problem is that not every contractor knows how to do insurance restoration. You want to find someone who is licensed and insured, and you need a contractor that can find restorable and non-restorable items. There will also be items that are not lost, which will make it considerably cheaper.
Essentially, you’re trying to work within the parameters of the insurance payment, which can be a bit difficult at times, but a good contractor will know how to get the most for your money. On top of that, the insurance company will feel much more comfortable when there is a licensed contractor on the case.
It will take a bit of time, but eventually your home will return to normal and you will be quite happy, even if it doesn’t occur right away. So do what you can, and let the insurance take care of the rest. The memories can’t be replaced, but the home can. Make the call, so you can make your life easier
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Category: Home Owners Renters
