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Roof Replacement | Insurance

How Does Bill Ragan Roofing Price Insurance Roof Replacements?

October 19th, 2022 | 3 min. read

How Does Bill Ragan Roofing Price Insurance Roof Replacements?

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The insurance claim process for your storm-damaged roof is confusing. Nothing is more confusing than how the pricing works. 

This leads to frustrations that could have been alleviated before meeting face-to-face. That’s why I want to help you understand how insurance pricing is determined before we start working together. 

For over 30 years, the team at Bill Ragan Roofing has helped homeowners like you understand the entire insurance claim process. Because of this, I’ll break down how our pricing and insurance pricing go together.

This article answers the following questions:

  • Who sets the price of your insurance roof replacement?
  • How does Bill Ragan Roofing factor into the insurance pricing?
  • What do you pay out of pocket after insurance agrees to pay for a roof replacement?

Who sets the price of your insurance roof replacement?

The very first thing you need to know about insurance pricing is that the insurance company sets the price for your roof replacement. Bill Ragan Roofing has no say over what the insurance company originally gives you for your roof replacement claim. 

For your original claim estimate, the insurance company should’ve used a software called Xactimate. Xactimate ensures the estimate is in sync with the general pricing average of materials in the Middle Tennessee area. 

Just know that the cost of materials fluctuates from month to month. This means all the line item prices have to be updated monthly, which is why most roofing contractor estimates are good for 30 days. 

How does Bill Ragan Roofing factor into the insurance pricing?

Once your insurance company approves your claim, the estimate is for the scope of work required to replace your roof back to the way it was before the storm hit. Unfortunately, most insurance adjusters leave line items off the initial claim estimate. 

This means they aren't giving you enough money so the roofing contractor can do the job correctly. This is where Bill Ragan Roofing factors into the pricing by supplementing your claim.

Supplementing your insurance claim means we fight for you to ensure the insurance company covers every line item (including local codes if applicable) your roof needs. It’s not just the line items that need to be covered but also the labor and time we charge to install them. 

There’s also the case of us reaching our profit margins. Bill Ragan Roofing is a for-profit business that needs to charge a certain amount to cover the overhead our business requires to keep it up and running on a daily basis. 

We also have to make a profit, which is pretty obvious. This means we’ll also have to supplement our overhead and profit if the insurance company leaves them off your claim estimate. 

Because insurance companies are also for profit, they usually understand this and agree to reach our prices. But there are cases where it isn’t so simple, which takes us to the next point. 

What do you pay out of pocket after insurance agrees to pay for a roof replacement?

The only thing most homeowners pay out of pocket is their deductible. Which isn’t the worst thing considering the majority of your roof is already paid for by the insurance company. 

You’ll also have to pay out of pocket if you want to add upgrades, like going from 3-tab asphalt shingles to architectural asphalt shingles. But there are some cases where you’ll pay more because the insurance company won’t cover certain things. 

This could be in the form of code upgrades, but there’s also the rare event that your insurance company won’t pay the overhead and profit we need. If this happens, you’ll have to cover the cost difference between the insurance’s final estimate and our pricing. 

I understand this seems unfair and can be frustrating. But as I said, we’re a for-profit business and have to make a profit to keep the doors open. 

This rarely happens, but it happens enough that we want to give homeowners a heads-up about the possibility. Just know that we’ll fight to ensure everything is included in your claim estimate, including the overhead and profit, to avoid this happening.

The most commonly asked insurance questions answered

You now have a better idea of who determines the pricing, how we supplement your claim, and what you’ll pay for when getting an insurance roof replacement. Remember, this article is meant to give you transparent information before working with us. 

But I’m sure you still have some questions about getting a new roof through insurance. That’s why I wrote another article that answers the top 9 insurance roof replacement questions. 

Since 1990, the team at Bill Ragan Roofing has helped thousands of homeowners with their insurance claims in Nashville and surrounding Middle Tennessee areas. We’ll guide you through the process and ensure your roof gets everything it needs. 

Check out The Top 9 Insurance Roof Replacement Questions Answered to learn more about your upcoming insurance roof replacement.

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