Hail came through Rochester, MN this spring and destroyed many roofs. My insurance company was just great to work with and allocated more money than I needed to replace my roof.
Unfortunately, my daughter’s insurance company (one of the largest in the country) is about $1000-$1700 under what the roofers want. She has been on the phone with her insurance company for a month, plus the insurance company has talked to several roofers that gave her estimates — neither side will agree on a price. Essentially the roofers have all the business they can handle and the insurance company said to take their payment and find someone who can do it for that price. So far, no reputable roofer will do it for the price the insurance company is offering.
Shouldn’t replacement value insurance pay for replacing the roof? The insurance company is setting whatever replacement value they feel like, then telling the homeowner to cough up the remainder – it is not their problem! She has escalated it about as far as possible and her insurance agent has not helped. Maybe the roofers are asking more than usual because of the demand and increase in shingle prices, but it is a free market.
Can you take your own insurance company to small claims court or what should be the next step here?