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