The Roofing Insurance Claims Process
7 Facts You Need to Know About the Insurance Claim Process That Can Save You Thousands of Dollars.
Watch Our Video Answer to the Question: Do I Have an Insurance Claim On My Roof?
1. Storm Damages…
May be defined as acts of nature resulting in the presence of physical alterations resulting in loss of performance, loss of functionality, changes to composition in the materials that make up your home. Damages to Roof, siding, gutters, windows, stucco, garage doors, will all be commonly represented as impacted after hail storms or wind storms. Water damages are also considered storm damages. (show pictures of damages to roof gutter window and stucco etc) YOUR INSURANCE COMPANY IS RESPONSIBLE TO PAY FOR THE DAMAGES TO YOUR HOME CAUSED BY STORM DAMAGES. They are not responsible for leaking roofs, rotten wood, old paint, or any other routine maintenance. We service routine maintenance as well as insurance replacement cost work.
2. Hail and Wind Storms…
They are very common in the United States and occur almost everyday, in every part of our country. After a big storm there will be many possibly hundreds of contractors that fly by night to your areas. AGAIN, YOUR INSURANCE COMPANY IS RESPONSIBLE TO PAY FOR YOUR HOMES STORM DAMAGES, NOT TO FIX IT. YOU ARE RESPONSIBLE TO HIRE YOUR OWN CONTRACTOR, DO YOUR HOMEWORK, DO YOUR HOMEWORK, DO YOUR HOMEWORK. Check out references, get a physical address, look up your states verified contractor website, and get copies of general liability insurance and workman’s compensation insurancemailed or emailed to you FROM THE CONTRACTORS INSURANCE CARRIER.
3. Hire a Contractor Before Adjuster Comes Out.
Homeowners will be better served to hire a contractor before the adjuster comes to inspect your home for damages. That way your insurance company and contractor can come to an agreement on a scope of loss for your home.
4. If you have a mortgage on your home, they may be listed as a payee on the loss draft checks from your insurance company.
If this is the case, your contractor will need to send in progress letters and possibly schedule inspections from your mortgage company to come out and review the progress of construction
5. You have 365 days from a date of loss to file an insurance claim.
I.e. there has to be a documented storm date to release to your insurance company http://www.noaa.gov/ is the most commonly accepted storm documentation website, although there are others that are acceptable. You will have 1 or 2 years from the date that you file your claim or possibly the date of loss to complete repairs on your home so that you can collect your final insurance moneys called DEPRECIATION.
6. The Total Moneys That Should Be Paid to Your Contractor Upon Completion of Work = Actual Cash Value Check + Depreciation + Your Deductible.
Your insurance company may not be responsible to pay the depreciation moneys depending on how your policy is written, in this case that will be called an ACV Policy. With an ACV Policy you will be self ensuring your property and have a greater amount to pay out in the event of storm damages.
7. Insurance companies use estimating software that most contractors will have access to to help estimate the values of loss.
Simsol, Xactimate, and Powerclaim are a few. The biggest variables in getting an estimate from your insurance company and contractor is the actual scope of what is damaged. This scope should be agreed upon by your contractor and insurance company before any final estimate can be released or submitted. Disclaimer, this information is intended to be a useful guide or tool to our consumers. Every insurance company and policy is different, and there may be variations from the content delivered in these points.