As a homeowner, one of the most stressful things to deal with is storm damage because your roof’s condition is uncertain until the situation is clear and you can finally inspect it. Thankfully, there are insurance providers that are present to back you up in the event of a storm-damaged roof. However, there is a strict process to follow before you’re covered.
Here your custom metal roofing company, Arrowhead Roofing, simplifies how insurance estimates work for storm damage claims.
1. Inspect the area. Once the situation has stabilized, document the affected areas of your home and include a detailed breakdown of which parts need to be repaired or replaced. If possible, you can even keep some of the damaged parts of your home as proof to be submitted later on. If you’re uncertain about what to look out for, you can ask the help of your trusted roofing contractor, who knows a lot about the storm damage insurance process. You can even compare your contractor’s breakdown against the adjuster’s to see if it’s consistent.
2. Get a statement of loss. Don’t forget to request a copy of the statement of loss from your insurance adjuster. You have to be physically present when this document is written. Your adjuster will give it to you once they’re done inspecting the temporary roof repair and the rest of your home.
3. Read through the statement of loss. This will include a detailed breakdown of the following: the approximate cost to repair or replace each item (RCV), the depreciation value or the money reserved until the replacement or repair is completed and the projected actual cash value (ACV), which is the result of the RCV minus the depreciation value and the amount estimated to repair the damaged items.
4. Collect all your repair and replacement estimates. By now, you’ve probably asked a fair share of companies for an estimate on your storm damage repair costs. Once you’re finished getting estimates, compile them together and submit them to your insurance provider along with your claim. If your insurance claim is approved, the depreciation column will be adjusted according to the actual amount of the project. A check will then be sent to you to cover any excesses.
Trust in Arrowhead Roofing for all your commercial and residential roofing needs! We’re certified roofers recognized by GAF and CertainTeed. We’re proud to have been in the roofing industry for over 30 years and are ready to serve you. Call us at (918) 743-9257 or fill out our contact form to get a free estimate.