💵 What Happens If I Keep My Insurance Money? 💵

Hey, roofing insurance claims can be confusing. You may have heard about people spending their checks without fixing their roof and then it storms and they're in trouble.

In this video, I explain what happens if you spend your check instead of fixing your roof. So watch this video and learn everything you need to know if you decide "I'm just going to keep the check!"

Homestead Roofing, Inc is a licensed and fully-insured Colorado Springs Roofing contractor that serves homeowners in Colorado Springs, Fountain, Falcon, Peyton, Manitou Springs, and other surrounding communities.

Visit the Homestead Roofing website for a lot more information, education, scam alerts, and tips at http://homesteadroofingcolorado.com or call our office at 719-433-6991 if you have any questions about this or any other roofing-related topics.

00:00 Introduction
00:39 The Cost of Replacement
01:00 Some Assumptions
01:20 Replacement vs actual value
01:56 Two Checks
02:17 First Check
02:32 Second Check
02:48 Ask your insurance
03:36 Determining Claim
04:17 Depreciation Example
04:43 Depreciation Math
05:04 First Check Math
05:35 Waiting on invoice
05:47 Keeping the first check
06:40 New insurance claim
07:42 The Consequences
08:20 New Claim Math
08:45 Costly Consequences
09:45 The Real Cost of Keeping
09:56 Why this topic?
10:45 Think Twice
11:07 Learn, Like, Comment & Subscribe