Dealing with damage to your home can be an immensely stressful and unsettling experience. Repairs can be time-consuming, demanding patience, and causing inconvenience, especially during severe weather events. To avoid additional stress and expenses, it’s crucial to be vigilant and consider these tips. They will guide you through the process, helping you know what to expect and ultimately save both time and money.
In times of widespread damaging weather, insurance carriers may enlist inexperienced adjusters to handle the influx of claims. Unfortunately, these adjusters lack the expertise of roofing professionals and may overlook crucial components or misidentify them on your roof. Such inaccuracies can have a significant impact on the overall claim amount, potentially leaving you with inadequate funds to restore your roof to its pre-loss condition. It is essential to be vigilant and ensure that your roofing assessment is carried out by qualified and experienced professionals to safeguard your rightful insurance coverage.
Our team of trained and experienced roofing professionals stays up-to-date with the latest roofing products and installation requirements to meet manufacturers’ specifications, market conditions, and building codes. We collaborate with your insurance adjuster to ensure that all essential variables impacting the cost of roof replacement are properly accounted for on your behalf. Dealing with this process on your own is not recommended; let our experts handle it for you with precision and expertise.
The insurance company has provided you with the amount necessary to restore your home to its pre-loss condition. This claim value represents the compensation for your losses, and we will collaborate closely with your insurance carrier to ensure its accuracy and comprehensiveness, enabling you to efficiently repair and recover from the damages.
Typically, this initial check from your insurance carrier represents the Replacement Cost Value after deducting your deductible and depreciation. It is intended to kick-start the restoration process. However, it is crucial to exercise caution and never entrust this money to a non-reputable or fly-by-night contractor lacking a solid reputation in your community. Opting for an established and reputable contractor is essential to ensure the successful completion of the project and safeguard your investment.
The deductible is the portion of the claim for which you are financially responsible, and it can vary from $250.00 to 2% of your home value. We advise exercising caution with any contractor who:
On a recoverable depreciation policy, there is a risk of unintentional fraud if you or your contractor misrepresent the repair costs to your insurance company. Be cautious of any company that claims they can complete your roof at a low cost to cover your deductible, as this may lead to cutting corners and compromising the quality of work. Such tactics are often employed by fly-by-night or Storm Chasers who take advantage of homeowners. Choosing a reputable company may seem costlier upfront, but it proves more economical in the long run, as the work is done correctly from the start, avoiding the need for additional repairs. If your deductible is high and you require financing, inquire about our financing options.
Depreciation refers to the withheld portion of the claim based on age, condition, and wear and tear. Recoverable depreciation is retained by the insurance carrier until the loss is repaired, and you provide the final bills for reimbursement. It’s essential to be aware that with recoverable depreciation, you must utilize it fully; otherwise, you forfeit the remaining amount. If the repair costs are less than the sum of Actual Cash Value (ACV) + deductible + recoverable depreciation, the carrier will retain the difference.
By addressing this matter from the outset, we can work together to optimize your roofing project by using any extra funds to upgrade your roofing products and accessories. Our available products can even lead to premium savings, ensuring that your deductible is covered annually, and potentially providing full coverage during future catastrophic weather events. This is an essential part of our insurance claim process.
If you suspect roof damage, don’t hesitate to reach out to us for a complimentary on-site inspection. In the event of visible damage during a widespread bad weather occurrence, it is crucial to contact us promptly to be added to our schedule list, ensuring we can attend to your needs promptly and efficiently.
Upon discovering any damage, we advise you to promptly contact your insurance agent to request an inspection. An adjuster will then be assigned to assess the loss. The claims adjuster will furnish you with a detailed breakdown of your claim settlement, encompassing your deductible amount and depreciation. It is essential to stay informed throughout this process.
Your insurance agent has the authority to authorize temporary repairs, if needed, to mitigate further damage to your property.
In order to facilitate proper reimbursement, your insurance company may typically request receipts for any emergency repairs you’ve undertaken.
To ensure proper documentation, take pictures of the damage before initiating any repairs. However, refrain from making permanent repairs until the adjuster has thoroughly inspected the affected area.
Upon completion of the inspection, you will be provided with a detailed claim sheet, specifying the scope of damage and the funds allocated for the repairs, minus your deductible. In many homeowner policies, full replacement cost coverage is granted, contingent on the actual completion of repairs. In such cases, the recoverable depreciation is accounted for, and the final payment is made once your receipts have been submitted and processed.
Once your insurance inspection is completed, please inform us, and we can proceed with the process of selecting new roofing materials. We will also discuss any available financing options in case the insurance claim does not cover the entire cost of any upgrades you wish to make for your roofing choices.
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