Navigating the Insurance Claim Process
Have You Had Recent Wind, Hail, or Storm Damage To Your Property ?
Hail And Wind Damage
Hail can damage your roof without any visible signs from the ground. Hail normally has to be the size of a golf ball before it will break through your roof or cause bruising. Sometimes these damages do not show up quickly or are easily overlooked. The integrity of the shingle may be damaged, do not take a chance on it. If hail is driven by high winds or if it lasts longer than a few minutes, even small-sized hail can cause your roof to suffer severe damage and the loss of their protective granules, which will GREATLY reduce the life of your roof. Loss of granule layers on the shingle can cause the glass based center of the shingles to be exposed to the suns UV rays. This will cause SERIOUS deterioration of the shingle in a short period of time. Have it inspected, just to be safe.
What is replacement cost value?
What is actual cash value?
What is recoverable depreciation?
What is non-recoverable depreciation?
What is full scope of insurance proceeds?
Will the adjuster give me enough money for a quality restoration?
What can I do if my adjuster didn't or doesn't give me enough money for a quality job?
If all these questions are hard to understand or answer, then let a professional help you. We can answer all of your questions and help you get everything you deserve.
Does my insurance company know if I had large hail in my neighborhood?
Most insurance companies subscribe to different tracking and hail reporting services. These services can track the hail size and the exact location it fell. If you had damaging hail, they already know it. It is your legal right to have someone represent you during the inspection. Your adjuster cannot enter your property without your permission. Insist on a FIRM appointment so that we can be there to represent you!
The Inspection
The adjuster will look at your property during working hours, so you probably won't be home when the adjustment is taking place, which means you have no input in the matter. We ask that you allow us to represent you during the inspection. The adjuster will inspect your roof and exterior of your home for visible signs of damage only. For the roof, he will measure out a "Test Square" (10' x 10') on different sections of your roof. If he can find a sufficient amount of bruises or breaks for each "Test Square", the insurance company will pay you for a new roof.
My Adjuster Said "No Damage"
It is possible that your roof was the only one on the block that wasn't damaged. However, you are entitled to a re-inspection by another adjuster within the same firm. So if you?re not completely satisfied with the results of your claim, don't settle. Ask for another inspection. Let us work for you in getting what you deserve.
Discrepancies
Most occur when the adjuster has not assessed the same amount of damage as the contractor. Whether it is for the roof, gutters, siding or other exterior or interior damage. So if you have interior damage or other hard to see damages that can be easily overlooked, chances are the adjuster will probably miss it.
You are entitled to have your contractor of choice represent you during the adjustment process to expedite the settlement of your claim. We will work with your adjuster to determine the extent of the damage, clarify pricing and offer a repair price agreeable to the insurance company. All you pay in most cases is your deductible. Let us work for you in getting a fair and amicable settlement.
How The Insurance Companies Pay On Claims
In most cases, about a week after the adjuster has estimated your property, you will receive your first check. This is most commonly called the ACV. (Actual Cost Value)
This check should represent the actual cost to repair or replace the damaged property, MINUS DEPRECIATION. This is commonly called the RCV (Replacement Cost Value).
The age and condition of the property is taken into account when calculating this depreciation. When work is completed, the insurance company will issue a check for the RECOVERABLE depreciation amount only if the total expenses are equal to, or greater than the total settlement. Many people never get the depreciation amount back because they do not understand the process or the contractor they chose didn't understand the proper procedures. When this happens, you have to pay the difference.
LAB Exteriors can offer a COMPLETE repair package (at the discretion of your insurance company) without you having to do anything. We can handle all of the red tape. All work will be performed in accordance with all state and local laws.
You are not allowed to profit from a loss.
Do I Need To Get Two Or More Estimates?
You are only saving the insurance company money and costing yourself quality when you get several estimates. By letting a professional negotiate with the insurance company, LAB can make sure that you get everything necessary for a quality restoration.
What reward will the insurance company give you for finding the lowest price for them? Your insurance company has created their own price list and will only pay actual costs for repairs (according to their price list), regardless of what prices you may get. Think of it this way, what reward will the insurance company give you for finding the lowest price for them? Your insurance company will pay a reputable contractor a "Fair market price".
Will My Insurance Company Give Me More Money If I Spend More Than They Have Given Me?
Possibly, your insurance company will only pay supplements on items that you can prove they overlooked.
Your insurance company will pay a reputable contractor a "Fair market price based upon the already established pricing for your area'' You should concentrate on choosing a reputable contractor who will use superior quality materials rather than concentrating on price. All you are required to pay is your deductible in most cases so it is impossible for you to overpay.
Which contractor should I hire?
Only choose a contractor willing to help with the claims process. The cost for repairs for your home is then determined by the insurance company and the contractor. This keeps you from over-paying!
We have completed hundreds of storm damage repairs and we have the experience needed to work on your behalf. We have extensive experience in working with insurance companies to replace your Storm Damaged roof, siding, windows, and more.
Visit our Insurance FAQ for more information.
