Insurance Claim Process
How to Navigate your homeowners Insurance Claim
Get your Roof inspected for damage from a qualified roofing professional and make sure there’s suitable damage from wind or hail to warrant a claim with your homeowners insurance provider.
Call your insurance agent or the 800 number to your insurance companies claim department and let them know you want to make a claim on your property and provide them with the storm date and let them know what was damaged by the storms wind/hail.
Your insurance provider will setup a time for there adjuster to come out to your property to access and inspect the damages from the storm. It is Important that you inform your roofing contractor of the date and time of this meeting so that he can be present to help point out everything that was damaged to insure that all items get covered in one claim.
After the claim has been made and your insurance provider agrees to the damages they will provide you a copy of the estimate for said repairs either on site or by mail. Typically they will generate the report on site unless there is a catastrophic storm in the area and the adjusters are super busy. The adjuster generates the report by using Xactimate software which is the industries standard for pricing for roof replacement and exterior repairs. When you receive the loss documents from the adjuster it will break down all portions of the claim by Roof, Paint, Gutters, misc damaged personal property.
Insurance Paperwork and Insurance Check
After the Claim has been approved the insurance adjuster will provide you the loss documents of the claim and the first check known as the ACV(Actual Cash Value) portion of the claim. If the check is larger then $10k it will be written to you and your mortgage company. In that case you will need to provide the mortgage company with a copy of our contract for your roof and possibly some other documentation in order for them to sign off on the check. If your bank is local this process can be done at one of the banks branches and can be relatively easy. If the bank is not local the process can take up to 2-3 weeks.
The three payment portions to an insurance claim include the ACV(actual Cash Value) + RCV (Replacement Cost Value)Depreciation + Any Supplemental. Supplemental is allowed for items that are not covered in the adjusters original assessment of damages which can include permit, access issues for trash and materials, any unseen damaged items including roof decking.
Installing the new Roof
After claim has been approved the next step is to schedule your roof installation with your salesman. The ACV portion of the claim is due the day of install. At Planet Roofing & Solar we are currently offering a Special to all new costumers making an insurance claim by upgrading every roof to a Class 4 Impact Resistant Certainteed Northgate 50 year warranty shingle at no additional cost. This can provide you up to 20%-30% off your annual homeowners insurance premiums.
Recovering the Depreciation
After the roof has been completely installed we will take pictures of the work and send them off to your insurance company and let them know the work has been completed. Your insurance provider will then release the depreciated portion (RCV) of the claim and any supplemental charges that have been added to the claim. These checks typically will arrive 2-3 weeks after roof completion.
Making the Final Payment
Final Payment will be due after you have received the RCV and Supplemental proceeds from your insurance company. Some mortgage companies will want completion pictures of the roof in order to sign off on the last checks.
Call Planet Roofing & Solar today for a free Roof inspection to see if your roof has any damage!
We are a local Colorado Roofing Company and we service and are licensed in all of the Denver Metro and Northern Colorado Areas including but not limited to: Wheatridge, Golden, Arvada, Littleton, Centennial, Lakewood, Englewood, Lonetree, Highlands Ranch, Parker, Aurora, Westminster, Thornton, Broomfield, Commerce City, Boulder, Longmont, Frederick, Firestone, Greeley, Fort Collins, Loveland, and many more areas to help better serve Colorado.