Understanding the Insurance Claim Process
Your home is one of your greatest assets. As such, the integrity of your roof is of great importance. While preventive measures are taken to ensure the most weather resistant roof possible during construction, severe weather does happen – sometimes roofs suffer damage from hail, high winds, and other forms of extreme weather. This is one reason that insurance plays an important role in the roofing business. On this page, we will walk you through the insurance claims process to help you understand how everything works should you need to file a claim due to any possible damage.
Overview of the Process
Call 1 Roof to schedule free inspection
Call insurance carrier to file claim & let 1 Roof know when to meet adjuster
1 Roof meets adjuster and agrees to scope of work
1 Roof replaces roof and associated damaged areas
1 Roof submits certificate of completion and any supplement items to insurance carrier and collects first payment form homeowner.
1 Roof follows up with insurance carrier for release of remaining funds and collects final payment when received.
The morning after a large storm has passed through your area, you may find yourself wondering if your roof has suffered any damage from the weather – you may have heard hail beating down on the roof or similar conditions that are a cause for concern. If this is in question, contact 1 Roof LLC and schedule a time where we can come out and assess the amount of damage, if any, to the roof. We will then discuss with you the extent to which your roof is damaged or if it has not suffered any damage at all. If the damage is significant, filing an insurance claim will be the next step.
To many home owners, the insurance claim process can be intimidating and overwhelming. In the event of significant damage to the roofing structure, however, insurance is a welcome service. The first step is to contact your insurance company and schedule an appointment for an adjuster to come out and assess any damages. While this is in many ways similar to the assessment we perform, the insurance company will want to assess it themselves – our assessment simply lets the home owner know whether or not a claim should be filed. After the adjuster’s assessment, within a few days the insurance company should send the home owner a summary of damages as well as the first check. This check is generally about half of the amount needed to cover the repair or replacement of the damaged roof. 1 Roof LLC can view this paperwork and discuss with the home owner the accuracy of the summary and payment estimates.
Each insurance company may handle this process differently – therefore it is difficult to provide definite answers to certain questions ahead of time. 1 Roof LLC will assist you in any way we can throughout the claims process, though your particular insurance company may determine the level of involvement that we can have in the process. Our goal is to minimize the best we can any overwhelming aspects of the paperwork and the process itself. Since we have experience with hundreds of claims, we can provide reliable professional advice wherever needed.
The home owner is legally required to pay whatever deductibles that were agreed upon when the insurance policy was purchased. The deductible will vary from one case to the next, though the home owner should be aware of his or her responsibility for the deductible before filing any claims.
Following a roof claim approval you will have a set time limit to repair the covered damage depending on your insurance company. After 1 Roof LLC discusses with the home owner the accuracy of the insurance company’s assessment and payment estimate, the 1 Roof LLC representative will discuss with the home owner any materials needed to perform the replacement or repair. If there is a mortgage on the home or business the first insurance check will usually require your mortgage company's approval of the contract for the scheduled roof replacement or repair. The first insurance check typically represents the ACV (Actual Cash Value) of your loss Less the amount of your Deductible. The ACV represents what your roof is Worth in its current condition so if it is 15 years old and it is expected to last 30 years the Actual Value is 50% less than a new roof. That is what is referred to as depreciation. After your roof has been replaced and your insurance company is provided proper documentation they will send another check for the RCV (Recoverable Cash Value) which represents the other 50%. The final payment from your insurance company is typically for the items that were needed to complete the roof that were not included on the original estimate. These items are usually permit fee, wood that needed to be replaced or other things that were discovered during the job. Most insurance companies include the Supplemental payment with the RCV payment.
Once the work is complete, 1 Roof will send an invoice indicating total costs and signed verification of the completed roof project to your insurance company. Once the insurance company has reviewed this information, the home owner is sent a second check to cover the remaining cost for the repair/replacement that the first check did not cover. The amount of the second check is then paid in full to us for the finished job.
- First check is sent to homeowner (ACV less homeowner deductible)
- Work is performed and documentation is sent to insurance company
- 1 Roof LLC collects ACV check amount and homeowner deductible
- Second check is sent to homeowner (RCV and maybe Supplemental funds)
- Third and final check is sent for Supplements (if not sent with 2nd check)
- 1 Roof LLC collects RCV and Supplement funds *less any expenses owed to homeowner.
*Expenses owed to homeowner are items or work that the homeowner did or will do themselves. At this point, the insurance claim process is complete and the home owner has a new or repaired roof. Though to many home owners this may sound like an exhausting process, we at 1 Roof LLC are here to guide your claim though the process as efficiently and quickly as possible.