Shamrock Roofing works with insurance adjusters to get you the best benefit possible. The duty of an insurance adjuster is to give you an accurate accounting of everything that was damaged by the storm and a written estimate of what it will cost to put your property back to the condition it was in prior to the storm. Remember, this is only an estimate and actual costs may vary. This is easily resolved between the adjuster and the contractor. In any case, you are going to be liable for the amount of your deductible and no more. The adjuster will either leave you a statement of loss or you will receive it in the mail in a few days. The statement of loss will itemize your losses and the estimated cost of repair for each.
Most homeowner policies are replacement costs and will pay that amount even though the actual cost may exceed the adjuster’s estimate. The loss statement will reflect the replacement cost value (RCV), the depreciation, and the actual cash value(ACV) of your loss. The (ACV) column of the statement will reflect the amount of your first check minus your deductible. The depreciation column should be called the deferred column, as it reflects the money held back by the insurance company until the work is complete and an invoice is submitted by the contractor for payment. The insurance company will then issue another check to you for the exact amount between the final bill, and the (ACV) portion of your first check relating to that particular repair.
The (ACV) and depreciation columns of your statement will total up to the (RCV) column of the statement. Insurance companies hold back money to track whether or not repairs are made and to ensure that they pay no more than the replacement cost of the damage. Most insurance companies send catastrophe teams into storm situations, and the adjusters come from all over the country to work the claims. Although most are well trained and experienced, some are not, and would not know hail damage if it hit them on the head. In any case, the adjusters are representing the insurance companies and it is the company’s interest they are hired to protect.
As time goes on, homeowners will realize that it is reputable companies like Shamrock Roofing & Siding that are actually looking after their interests in the repair process.
For more information about new roofs, roofing repair, and installation, call us at (913) 850-6556 or email us at Shamrock Roofing and Construction or visit our Roofing FAQ page.
