Until it’s time to repair or replace your roof, most homeowners don’t give their roof much thought. When an issue arises, a storm rips through, or it’s simply time for a roof replacement, many questions regarding the roofing process arise.

At AIC Roofing and Construction, we want homeowners to feel confident and knowledgeable about their roof replacement. To achieve this goal, we built a best-in-class Learning Center to openly discuss important topics regarding roof, gutter, and siding replacements.

Replacing your roof is an expensive and hopefully rare home improvement project. Thus, one of the most common questions homeowners ask is how much will their roof replacement cost and what payment options are available.

Below we’ll discuss our views on industry best practices and what you can expect from a reputable roofing contractor regarding payment options for your new roof.

What Should Your Deposit Be?

With any home improvement project, it’s typical for the homeowner to pay a certain percentage prior to the start of the project and the remainder after the project is completed. This ensures that the homeowner is kickstarting the project in good faith and the contractor completes their end of the bargain in anticipation of the remaining amount.

In our experience, we’ve found best practice involves homeowners paying between a 25% deposit upfront, prior to the start of the project. This ensures both the homeowner and roofing contractor have a stake in the project. Homeowners are not expected to pay the remaining balance until after their final walk-through. This allows homeowners to verify their roof has been replaced according to the specifications in the contract, prior to making their final payment.

What Are Your Financing Options?

At AIC Roofing, we offer financing through Service Finance, they can secure home improvement loans for up to $100,000 at competitive interest rates.

If insurance won’t cover your roof replacement, there are other financing options in addition to a home improvement loan. Common funding types include Home Equity Lines of Credit (HELOCs), credit cards, or second mortgages.

What do I pay if I’m using insurance?

If your homeowner’s insurance is covering the cost of your roof replacement, your payment schedule generally requires that the homeowner’s deductible be paid as the deposit. However, depending on the details of your policy, your insurance may write a check directly to you for the estimated cost of your roof replacement, or they may pay the roofing contractor directly. If your homeowner’s insurance policy pays the roofing contractor directly, you will be responsible for paying any deductible amount to your roofing contractor prior to them beginning work on your home.

Wrapping Up

According to the National Association of Realtors Research Group’s 2022 Remodeling Impact Report, a roof replacement has a 100% cost recovery. That means when it’s time to sell your home, most homeowners recover 100% of the money they spend on their roofs. Rest assured knowing that your roof is an important and extremely valued piece of your home.

Since 2003, AIC Roofing has served the Lexington, Louisville, and Richmond, KY area. We are in the top 2% of roofing contractors in North America that received the GAF Master Elite Certification. Working with a GAF Master Elite certified contractor means you’re working with a top roofing contractor. Along with our GAF Master Elite certification comes an extended material and craftsmanship warranty. We renew this certification every year as part of our commitment to excellence.

If it’s time to replace your roof, we happily work with homeowners to help navigate the insurance claims process and offer financing options. We want every homeowner to feel confident and knowledgeable about the roof replacement process.

Whether you’re preparing for a roof replacement, suspect you may have a leak, or would like storm damage evaluated, contact AIC Roofing today for a free estimate!

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