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How Does On Tops Roofing Handle Payment?

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After deciding you need a roof replacement, one of the first things you’ll probably start thinking about is how you’re going to pay for your new roof. The truth is, there are multiple ways to pay for a roof replacement. Each roofing company has their own forms of preferred payment.

We know that getting a roof replacement can seem like an overwhelming process, but paying for your new roof doesn’t have to be. If you’re interested in working with us here at On Tops Roofing, we created this guide to give you a clear and simple understanding of our payment options. Let’s dive in.

What Forms of Payment Do We Accept?

The Quick Answer – We accept cash, check, credit card payments, cashier's checks, and financing. If you choose to pay with a credit card, you should note that a 3% handling fee will be included in your overall payment. 

If you want to finance your roofing project, you’ll first need to discuss it with an area representative during an initial conversation and then get pre-approved through this link. Keep reading to learn more about the financing options we offer here at On Tops Roofing.

These forms of payment are the easiest and simplest way to get the job done. You won’t have to fill out any complicated paperwork or get approved for payment. We’ll finish your repair or replacement, you’ll pay us for our work, and then you can enjoy the peace of mind that comes with a new roof.

When Will You Need to Pay for Your Project?

If you decide to work with On Tops, we’ll sit down with you to create a contract that includes your roofing package and accessory options.

Typically, a roofing contractor will ask for a deposit of 10 to 30% of the project total prior to starting work to cover the upfront cost for materials, payroll, and equipment as needed. While we typically don’t require deposits for repairs and replacements, be prepared to pay a deposit for special-order items that can’t be returned.

What Financing Options do We Offer?

On Tops Roofing is proud to offer financing options for homeowners who need help with their roofs. We have partnered with Wells Fargo to offer the Wells Fargo Home Projects Credit Card Program. As a card holder, you can experience these benefits:

  • Special financing where available.
  • Open line of credit for all your purchasing needs
  • Convenient monthly payments to fit your budget
  • Quick credit decision

We often see customers finance all or part of their deductible when replacing their roofs with the help of insurance. They often pay the deductible in cash and then finance upgrades like gutter replacements or installing Leaf Relief, which is a type of gutter guard.

If you’re interested in our financing program, you can apply securely online.

Financing is a great tool for homeowners who don’t want to pay for their roofs out-of-pocket. However, before you finance your replacement, you’ll need to get a roof inspection to figure out your monthly payment. You can read this article to learn more about what’s included in a roof inspection.

How Do We Handle Insurance Claims?

Going through a rough storm can leave you worried about the state of your roof. If you have homeowner’s insurance, you can file a claim with your insurance company to cover any necessary repairs. However, the insurance process can be confusing if you haven’t been through it before.

If you think your roof has storm damage, the first thing you should do is call your insurance company. They’ll either send out an insurance adjuster or tell you to call a roofing contractor for an inspection. 

That’s when it’s time to contact us! We’ll come out to your home, do a free inspection, evaluate your roof, and see if you actually need repairs. If you do have damage and need to initiate a claim with your insurance company, we’ll send one of our lead contractors out to get on the roof with your insurance adjuster to show them the damage.

From there, we'll write up a quote just like we would for a typical repair or replacement, and then we’ll start working on your roof. Depending on your policy, once your claim has been approved, you’ll get an insurance check for your roof’s ACV or RCV. Below is a breakdown of each policy: 

  • Actual Cash Value (ACV):  This is the depreciated value of your roof. If this is your policy, it means your insurance company will only send you a check for the value of your roof today.

  • Replacement Cost Value (RCV): This means your insurance company will pay to replace your roof. You’ll first receive a check for the ACV of your roof before repairs are completed. They’ll hold back the amount they calculate that your roof has depreciated. This is called recoverable depreciation.

  • Recoverable Depreciation: This is the final check your insurance company will send after you show proof that your repair or replacement has been completed. Once we finish your project, we’ll give you a letter of completion with your invoice. You’ll then need to submit the invoice to your insurance company to get a second check for the amount that your roof has depreciated during its lifetime.

Once you receive these checks, you can deposit them and pay for your repair or replacement with the payment methods mentioned earlier (cash, check, credit card, etc.). While the insurance process can seem complicated, it should ultimately help you end up with a new roof that lasts for years to come.

Ready to Move Forward With On Tops?

Now that you know a little bit more about our payment process, you may be wondering how much it would actually cost to work with On Tops Roofing.

We want to be as upfront with our homeowners as we possibly can. That’s why we offer free roof assessments and estimates to help you understand the total cost of your replacement before you sign a contract with us.

If you have concerns about paying for your new roof, feel free to fill out the form below to talk to us about your financing options. We’d also be happy to answer any questions you have about our roofing process or paying for your replacement.

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