If you’re filing a roofing insurance claim, it’s essential to understand how your contractor will handle the process.
Filing an insurance claim for roof damage can feel overwhelming.
Thankfully, Litespeed Construction in Knoxville, TN, helps homeowners navigate the process from start to finish.
Below, we break down their insurance contingency policies so you know what to expect before signing your contract.
Litespeed Construction will meet with your adjuster to:
✅ Inspect the damage with the insurance representative.
✅ Provide practical evidence to support your claim.
This ensures your claim is accurate and complete, increasing the chances of full coverage for necessary repairs.
Insurance adjusters sometimes miss important repairs when writing estimates.
✅ If that happens, Litespeed Construction will submit a supplemental estimate to include:
This step helps make sure you get all the coverage you’re entitled to.
Your insurance deductible is your portion of the repair costs, and Litespeed Construction cannot waive or discount it.
✅ What homeowners must pay:
🚨 Beware of contractors offering to “cover” your deductible! This practice is illegal and could lead to insurance fraud.
Overhead & Profit (O&P) is a 20% standard fee paid by the insurance company to Litespeed Construction for:
✅ Managing multiple trades (roofing, gutters, siding, etc.).
✅ Supervising work and handling administrative tasks.
This is common for full roof replacements, especially when multiple types of work are required.
Handling insurance claims can be frustrating. That’s why Litespeed Construction communicates directly with your insurance company on your behalf.
✅ By signing the contract, you authorize them to:
This saves you time and reduces stress.
If Litespeed Construction secures your funding and you decide to cancel, you agree to pay them 15% of the total insurance estimate.
🚨 Why? This fee compensates them for:
✅ However, if your claim is denied, this contract is void, and you owe nothing.
If you’d like to upgrade to premium roofing materials, you can!
✅ Insurance covers the cost of “like-for-like” replacements.
✅ Homeowners pay out-of-pocket for upgrades, such as:
If you’re interested in enhancements, ask for an estimate before work begins.
✔ Answer: Yes! Litespeed Construction will meet your insurance adjuster on-site to perform inspections and provide practical evidence to support your claim. This helps ensure your insurance company fairly assesses your roof damage.
✔ Answer: Litespeed Construction will submit a supplement estimate to your insurance company for any missing code compliance requirements or work not included in the initial adjustment. This helps make sure all necessary repairs are covered.
✔ Answer: Yes, homeowners are always responsible for their deductible, upgrades, and any non-recoverable depreciation listed on the insurance claim. Contractors cannot legally waive or discount your deductible.
✔ Answer: O&P is a 20% fee that Litespeed Construction receives from the insurance company to cover the management of trades, supervision, and business expenses. This is standard for contractors overseeing multiple trades on a claim.
✔ Answer: Yes, by signing the contract, you are authorizing Litespeed Construction to communicate and negotiate with your insurance company on your behalf. This helps streamline the process and ensures you get the maximum claim benefit.
✔ Answer: If you cancel after Litespeed Construction has successfully secured funding, you agree to pay 15% of the total insurance estimate as compensation for their time and resources. However, if funding is not secured, the contract is void, and you owe nothing.
✔ Answer: Yes! However, insurance contingency agreements do not include the cost of upgrades. If you want a higher-end material or additional work, you’ll need to cover the difference out of pocket.
Litespeed Construction in Knoxville, TN, is known for its honest pricing and quality service. Here’s a summary of our online ratings:
Google Reviews
⭐⭐⭐⭐⭐ 4.8/5
Excellent communication, fair pricing, and great cleanup.
Angi
⭐⭐⭐⭐⭐ 4.7/5
15 years of trusted experience.
Yelp
⭐⭐⭐⭐⭐ 5/5
Professional and efficient service.
Understanding insurance contingency policies ensures a smooth claim process. Litespeed Construction simplifies the process by meeting adjusters, negotiating for full coverage, and handling claim paperwork.
📞 Need roofing insurance help? Contact Litespeed Construction today for expert guidance!
If your home is in need of a roof repair, we are the #1 expert in Residential Roof Repair in the Knoxville area and you are at the right place! With over a decade of quality roof repairs, Litespeed will fix that leak fast and right the first time! Because we know how important your home is to you.
As a homeowner, you never want to experience an Emergency Roof Repair, but there are times when Mother Nature has other plans in store. However, in the event of an emergency, it is important to have a go-to roofing contractor to contact to get professional repairs done quickly in order to prevent further damage.
Roof Leak Repair is something that we have been doing right for over a decade. We are fast and we get the job done correctly the first time.
If you need a repair, call us today and we can help you solve your problem fast.
Call: (865) 297-3286
