💵 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