How To file A Claim?
Posted by Admin
Common Insurance Questions:
Q: My roof is not leaking, so how do I know if I have any storm damage?
A: In most cases, hail damage may not cause roof leaks immediately, but that doesn’t mean that you won’t have a leak later if the problem is not addressed. Hail can cause severe damage to your roof that is not always visible from the ground. It is best to have your roof inspected by a licensed and insured roofing contractor to determine if you have enough storm damage to justify filing an insurance claim.
Call today and we will be happy to perform a Free Storm Damage Inspection.
Q: Do I have to pay J. Adams Roofing Inc. for their claims assistance?
A: NO! We will assist you with your claim from start to finish for free! Our claim management program is a complimentary service we provide to all of our clients.
Call today and we will be happy the help you start your claims process.
Q: Should I call my insurance company before I call a roofing company?
A: Usually not. In many cases an insurance company will consider it a claim against your policy even if you don’t get a penny. Every time they go out, they count it as a claim. In most cases it is wise to have us take a look at your roof first. We can make sure the roof is eligible for a claim before you call your insurance company. If there is damage, we will also be happy to meet your insurance adjuster and make sure the specifications of your claim are correct.
The way a claim is filed can very often effect the way it is settled. Please call us before you call your insurance company and we will make sure you get started right.
Q: My insurance claim shows Actual Cash Value and Replacement Cost Value. What is the difference?
A: Almost all home owners insurance policies cover full replacement value. When you file your claim, you will most likely receive the first of two checks from your insurance company, which is the amount of the Actual Cash Value (how much the roof is worth today considering it’s remaining life expectancy). The insurance company witholds what is called depreciation from the initial check and will pay it once the work has been completed.
Actual Cash Value + Depreciation + Your Deductible = Replacement Cost Value
Q: Why did the insurance company withold depreciation?
A: There are typically two reason why the insurance company would withold depreciation. First, they want to make sure that you actually have the work completed. Their past epxerience has shown that if they pay their client all of the money up front, often times the client would spend the money on something else other than the repairs for which they are paying. Second, the insurance company wants to make sure that you pay your full deductible. Also from their experience, they have found that when they paid all of the money up front, their clients would try to find a contractor who would perform the job for that amount or less, thus leaving the client without having to pay their deductible. By witholding this depreciation until the work is completed, they can adjust the amount of the final payout based on the job complete invoice submitted by the contractor to ensure that the client does pay their deductible.
Q: Can I get the depreciation back?
A: In most cases, yes. Usually, residential policy claims have depreciation which is initially withheld. Unfortunately, many homeowners never have recoverable depreciation explained to them and as a result, they will commonly miss out on thousands of dollars of their claim. After the work is completed, we will help you work with your insurance company. We will provide them with all the necessary paperwork which will usually allow you to get ALL of the depreciation refunded!
There are many small details and variables which apply to each specific claim. Call today and we’ll make sure you understand your individual claim fully before you call your insurance company.
Q: What if J. Adams Roofing Inc.’s quote is higher than the insurance company estimate?
A: While this rarely happens, if it does, we guarantee to install your roof per the insurance company specifications and pricing, so that your only out-of-pocket expense would be your deductible.
Please call us today and see what we can do for you.
Q: Can I avoid paying my deductible?
A: No. To attempt to do so constitutes criminal insurance fraud.
Don’t see your question answered here? Contact our office for assistance.