Will insurance pay for hail damage, and how much?
Short answer. Usually yes, if hail caused functional damage and the cost is above your deductible. The amount is the insurer's approved repair or replacement cost minus your deductible, with depreciation held back until repairs are done on a replacement cost policy, or kept permanently on an actual cash value roof or payment schedule.
The formula
Approved replacement cost, minus depreciation (paid later if it is recoverable), minus the deductible, equals the first check. The second check is the recoverable depreciation, plus any approved supplements, once the work is done.
What raises or lowers the number
- Scope: how many slopes are approved, and whether accessories, drip edge, starter, ice and water barrier and steep charges are included. Missing items are the most common cause of a low payment; see supplements.
- Measurements: wrong squares or pitch change the total.
- Deductible: flat, or a percentage of Coverage A.
- Settlement: replacement cost versus actual cash value or a roof payment schedule.
- Other damage: gutters, siding, screens and fences added to the same claim.
- Overhead and profit: sometimes added when several trades are needed.
When it will not pay
- Damage below the deductible.
- Cosmetic damage excluded by endorsement.
- Wear, deterioration or prior damage.
- Late reporting that breaches the policy.
Who gets the money
Checks are usually payable to you and any mortgage company on the policy, and you pay your roofer under your contract. See mortgage company checks.