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What Does An Insurance Contract Say About Deductibles?
There is a good deal of fine print in an insurance contract, but the basics are not hard to understand. You pay a monthly premium for coverage in exchange for protection against a big loss. Your insurance is not there for every small loss, so there is a deductible amount that must be exceeded before the insurance kicks in. This deductible always comes first.
If your deductible is $1,500.00 and you have a loss that is less than $1,500.00 your insurance owes you nothing. You would cover the first $1,500.00 of any loss. The same is true even if your home is pelted by large hail and the total loss is much greater. If you have a $12,000.00 loss, your insurance company would owe you $10,500.00 as the deductible amount. $1,500.00 would be paid by you. In fact, for any loss above $1,500.00 your part would always be the same, your deductible.
Shopping For A Better Roof Price Does Not Save A Deductible
Insurance Contract Language: Section I & Section II, Conditions:
2. Concealment or Fraud
This policy is void as to you and any other insured, if you or any other insured under this policy has intentionally concealed or misrepresented any material fact or circumstance, made false statements, or committed fraud related to this insurance, whether before of after a loss.
(2) if this policy has been in effect 90 days or more, we may not cancel this policy unless:
(c) you submit a fraudulent claim.
If You want an Honest Roofing Company To Protect Your Home with no run around