Bids vs. Estimates

How your insurance company calculates your roof payout:

 

$10,000 Insurance Estimate

$1,000 Homeowner Deductible

$9,000 = Insurance company pays this amount upon receipt of the $10,000 invoice

 

Your insurance company will pay over two checks:

 

$6,000 First payment from the insurance company

$3,000 Final check/depreciation paid upon receipt of the $10,000 invoice once the work is complete

 

Summary

$10,000 Insurance Estimate

$1,000 Homeowner Deductible (Total out of pocket)

 

"LOW BID" CONTRACTOR

$7,000 Estimate to replace your roof

$1,000 Homeowner Deductible

= $6,000 Insurance Check

$1,000 Total out of Pocket

 

THE TAG WAY

$10,000 Estimate to replace your roof

$1,000 Homeowner Deductible

= $9,000 Insurance Check

$1,000 Total out of Pocket