Insurance replacing roof?

[Jhamir Figueroa]

Hey BP community! I have a rental and it’s time to fix the roof. Been putting it off but don’t want to be neglecting anymore. Know some contacts that get the insurance companies to pay for it by providing a free roof inspection and recommending based off of wind damage or other. I’m pretty sure if I go that route my insurance premiums will go up, and likely for all my policies. Anyone have experience with a similar scenario? Did premiums increase too much? Was it worth it? Or should I just pay a contractor? Smallish home would probably get it done for $4-7k if out of pocket.

[Cameron Moore]

Hi Jhamir, depending on your deductible I would say $4-7k out of pocket would not be a better financial option than paying the deductible (if it is low) and letting the premiums take a small hit for the claim. Typically, the premium only jumps about $300/year when making a roof claim.