As a homeowner, you will at some point need roof repairs for a variety of reasons. Perhaps you’ve discovered a leak in your roof and want to move with speed to fix it before it leads to further water damage. Regardless of your reason for roof repairs, they can be expensive depending on the extent of damage. If you don’t have adequate cash stashed away for such events, you will need to find a convenient financing option for your roof repairs.
How to Finance Roof Repairs
Roof repairs typically need to be addressed quickly to prevent further damage which could end up costing you more to fix. Some of the options to consider for your roof repair include homeowner’s insurance, Home Equity Loans, personal loans, and company financing.
When Insurance Covers Roof Repairs
Several factors will determine whether you are entitled to have your roof repairs covered by your homeowner’s insurance, and whether it will be covered in part or in full. Before you even need to file a claim for a potential roof repair, contact your insurance agent to see what is and isn’t covered. If your roof is damaged, contact your roofer to assess the roof and provide an estimate for the cost of repair. A reputable roofing contractor will likely have experience with roofing insurance claims and will help with any questions you may have about the whole process.
In a few instances, roof repairs are fully covered by homeowners insurance. However, in most cases, your insurance policy will only cover part of the cost. Full coverage often applies if your roof is generally in good condition, is brand new, or the damage is caused by a storm or other unexpected events, such as falling trees. Always have your roof regularly inspected by a reputable roofing company to improve your chances of getting the claim approved.
Roofing Company Financing
Another great option to finance your roof repairs is to work with a roofing company who offers financing options. Many established roofing contractors partner with banks and other lending institutions to help finance roof repairs and replacements. It’s more like getting a bank loan but with less stress and red tape on your end. Moreover, these contractors often negotiate better rates due volume lending and pass down the benefits to homeowners in terms of low interest rates and flexible payment terms.
Whenever you’re faced with a leaking roof, it’s critical to find financing to take care of the situation before it worsens. Consider working with Couto Construction in Southeastern Massachusetts, Cape Cod, and Rhode Island for all your roof repair needs. Contact us today to learn about our financing options.