My Home — Roofing & Renovations Insurance Claim Process

My Home - Roofing & Renovations Insurance Claim Process

WE ARE HOMEOWNER’S ADVOCATES. WE WILL ASSIST YOU IN FILING A CLAIM

My Home Roofing & Renovations specializes in insurance claim assistance to the homeowner for weather related damages to your roof and home, such as hail, wind or water damage etc. We will help you deal with your insurance company and meet with your insurance adjuster to discuss your roofs’ damage. Our involvement prevents you from getting stuck with a settlement that may not cover your needed cost, or even worst, being denied when storm damage is present on your roof or home.

We help you get a full roof replacement and/or repairs for no out-of-pocket expense other than your insurance deductable. We almost always agree to accept the price that your insurance will pay for the claim, including your deductable, depending on your insurance policy. We ensure the highest quality roof repair or replacement. You may also benefit for upgrades at no additional charge that we typically offer as normal signing incentives. Our company is extremely credible as being the homeowners’ advocate and our crews have decades of knowledge & experience and are trained to the highest standards.

WILL MY INSURANCE PREMIUM INCREASE IF I FILE A CLAIM

FOR STORM DAMAGE?

This is the number ONE question asked by homeowners!

Filing a claim will NOT cause your homeowner’s insurance premium to increase. Depending on the specific insurance company and filings, hail, wind and storm damage are considered an insurance loss on your homeowner’s policy. Natural weather related events are considered to be an "Act of Nature or God" and insurance companies legally CANNOT cancel your policy or raise your rates for severe weather related claims. The insurance claim itself should be considered to be a natural disaster and should not count against you for rate increases.

Most insurance companies have a time frame limitation of normally one year in which you should file a claim after a major damaging storm or severe weather has occurred in your area. Our severe weather & hail storm records can confirm the time frame of the most recent severe weather or damaging storms that hit the area of your home. Most insurance companies will pay the entire cost for a full roof replacement, less the deductable, if there is significant damage caused by severe weather or a storm.

Contrary to what many people believe, they associate having their rates increase with one claim filed with their homeowner’s policy. The fact is that claims do not dictate the premium with regards to homeowner’s insurance.

Homeowner’s insurance policies are not like auto insurance policies which must reveal the records of your driving history, citation records, points on your driver’s license and various other factors that can contribute to your driving record history.

Just think for a moment, if your vehicle was damaged by hail from a severe storm, chances are you would immediately call your insurance company to file a claim. Your home is your most prized possession, so think of your home as you would your vehicle when it involves hail or storm damage to your roof.

Homeowner’s insurance focuses more on the region and location of your home. The number of catastrophes or disastrous weather events your area has suffered over the past few years, the potential weather risk in the area, the type of residential home, and the amount of coverage you buy, dictate the bulk of your premium.

Insurance premiums are normally raised over an entire given region, NOT per individual household!

If your roof has significant storm damage, the right thing to do is to file a claim. After all, your home is normally the largest and most important investment during your lifetime. It’s your home and you’re paying the insurance premium each year, and year after year. In many instances, you have already paid for a new roof many times over. Use your homeowner’s insurance for what it is designed for; to protect your home!

MAKING A STORM DAMAGE INSURANCE CLAIM

The first step. contact us for a free roof inspection and analysis. Our insurance specialists will schedule a time "at your convenience" to examine, analyze and document all damages on your roof. After the inspection, we will determine whether it is advisable to make an insurance claim. At that point, you will decide if you would like My Home Roofing & Renovations to represent you through the claims process. If you do not have adequate damage, you will be clearly advised and no one’s time will be further wasted. Yet, you will have received a complete roof analysis without any obligations.

Once we have discovered storm damage and you have decided to file a claim, the next step is to simply contact your insurance company through their claims department. Your My Home Roofing representative can assist you with this procedure. Inform them that your property has sustained storm damage and give them the type of damage (hail, wind, water etc.) and the approximate date of loss. At this time, let them know that your professional roofing contractor has examined the property and confirmed that your roof has storm damage. Your insurance company will issue you a claim number at this time. Write this number down and provide it to your My Home Roofing representative for reference and future assistance.

ROOFING INSURANCE DEDUCTABLES

Can I avoid paying the deductable? Legally NO! Your roof deductable is the portion of your claim that is not covered by your insurance company. In some cases, the deductable for your roof may be different than the deductable for the rest of your home depending on your policy. While you are responsible for your deductable, My Home Roofing & Renovations will normally do the work for the amount that your insurance pays, including your deductable, depending on your insurance policy.

Average deductibles normally are five hundred or a thousand dollars on most homeowner’s policies in north/northeast Georgia. On higher deductibles, we will work with you to help you take care of your home and we can help you get your roof replaced. My Home Roofing & Renovations will walk you through the claims process step-by-step and assist you in handling the often confusing claims process work to make sure your home gets the attention it needs.

THE INSURANCE ADJUSTER MEETING

An insurance adjuster will contact you normally within two to three days of making a claim to schedule an appointment at your property. Inform them that your My Home Roofing & Renovations representative will meet them and that we will be present for the inspection on your behalf. As homeowner’s advocates, we will discuss in detail the damages and the scope of work with the adjuster. This includes all measurements, pricing and upgrade requirements necessary to bring your property back to its original condition before the storm damaged your home.

Many adjusters are very busy and may inadvertently miss or overlook damaged areas or their scope of work may be off a few squares. Sometimes they may miss some key components or may not be able to walk all over a steep roof to take important photographs of certain damaged areas.

If the roof is border line, it is a must to have one of our professionals present to accurately access and point out all damage to the adjuster. Our project consultants have made the difference many times between the homeowner getting a full roof replacement rather than nothing at all or just basic repairs. This happens quite often and our specialist will make sure that all damages are noted and will insure that your insurance claim gets paid the proper amount and paid correctly.

In addition to our complete roof analysis, we construct detailed drawings of your roof showing the measurements, square footage and where the damage is located. These roof lay-outs and drawings are given to the adjuster upon his arrival. Adjusters normally welcome this as it saves him/her time and allows them to locate, inspect and determine the amount of damage quickly and easily.

INSURANCE CLAIM SUMMARY OF WORK

Once approved for a full roof replacement or repair, your insurance company will send you a "scope of work" summary containing the list of damages recorded, repairs being covered and the payment associated along with the summary. This will be your first installment check, called ACV (actual cash value payment). It is important to review this with your My Home Roofing & Renovations representative to ensure that it is complete and accurate for damage coverage.

THE INSURANCE CLAIMS CHECK(s) PROCESS

Once your roof has been approved for a full replacement, there are four key terms that you may want to remember with most policies.

ACTUAL CASH VALUE -Typically the amount of your first check from your insurance carrier.

DEPRECIATION -Typically the amount of your second check from your insurance carrier.

REPLACEMENT CASH VALUE -Your Actual cash value plus depreciation.

DEDUCTABLE -The amount of your claim that you are responsible to pay.

ACTUAL CASH VALUE CHECK. The first check from your insurance company is the "actual cash value" or ACV check and is what your roof is worth and its useful remaining life. The first check, minus your deductable, is usually only enough for your contractor to purchase the materials and get the work started. Often, the first check will be co-endorsed to your mortgage company. If the check is co-endorsed, you will need to get a signature from your mortgage company.

DEPRECIATION CHECK. The second check from your insurance company is your depreciation. The depreciation is simply the difference between the ACV and the replacement cost for your new roof.

HOW DEPRECIATION WORKS

Your insurance company may hold back depreciation. Depreciation is the amount of your settlement that is not paid unless and/or until your work is completed. The depreciation check is usually sent after your roofing contractor submits a final invoice and/or a "certificate of completion". There are basically a couple of reasons why insurance companies hold monies back. One reason is to make sure that you get the work completed that they have agreed to pay for. The other reason is that the insurance company wants to make sure that you have paid the full deductable. By holding a retainage amount, they can also adjust the amount of the final payout based on the roofing contractor’s invoice.

My Home - Roofing & Renovations Insurance Claim Process

If you do not use all of you depreciation to get your home fixed to the insurance company’s scope of work specifications, they will subtract your deductable from the final lower priced invoice rather than the total claim originally allowed. In other words, your insurance company will keep any depreciation monies you didn’t spend while getting your roof repaired or replaced.

After the final invoice is submitted, your insurance company, and sometimes your mortgage company, may want to do a final inspection to be sure that all the work billed has been completed in a standard-workmanship-like-manner and that quality materials was used before releasing the second depreciation check, which is the balance of the contractor’s payment.

My Home Roofing & Renovations issues a certificate of completion form and often sends photos to the homeowner and/or the insurance company. This normally speeds up the depreciation check delivery process so we can get paid in full.

DEPRECIATION TIPS

Depreciation is the amount of money withheld from you until your work is completed. By withholding depreciation, your insurance company ensures that they will only pay the balance after you pay the deductable. Your insurance will match, not normally exceed, your roofing contractor’s "fair market price", less your deductable. If you do not spend all of your money allowed, your insurance company keeps the difference and pays the balance. Most insurance company’s cover full replacement cost, minus your deductable.

"REPLACEMENT COST" VERSES "ACTUAL CASH VALUE"

A "Replacement Cost" insurance policy is designed to repair damage done to your roof and home, less your deductable. With replacement cost, the insurance company will pay the full cost of replacing your roof minus the deductable.

An "Actual Cash Value" insurance policy is designed to repair the damage done to your roof, less your deductable and less your depreciation. The insurance company is only responsible for paying damage done to your home, so your depreciation is non-recoverable.

Take the time needed to talk with your insurance agent to know what type of insurance policy you have on your home because it will determine the outcome of re-roofing and repair process.

SUPPLEMENTAL COST

In a storm environment, with rising materials and labor cost, it may be necessary to file for a supplemental claim to cover rising cost of labor, gas materials etc. When a supplemental is paid, your insurance company will agree to issue a third check beyond the original claim to help your contractor cover the increased cost of the job.

HOW YOUR INSURANCE CLAIM IS HANDLED MAKES A DIFFERENCE!

My Home Roofing & Renovations has dealt with numerous storm restoration insurance claims in North and Northeast Georgia and has developed a system which helps our customers settle their hail, wind or water damage insurance claims as quickly, painlessly and comprehensively as possible.

As homeowner’s advocates, our customers can benefit from our complimentary claims management program. This program allows the homeowner to be involved in as much or as little of the storm damage claims process as they wish. Either way, we guarantee to repair or replace your roof, siding, gutters and any additional restorations to your home as needed, per insurance company pricing and specifications.

A well handled storm damage insurance claim should be a worry-free process for the homeowner with a new roof being installed for little or no money out of your pocket. Remember, if an insurance claim is not handled properly, the claim can be denied completely or the homeowner may end up paying thousands of dollars out of pocket when it is not necessary. Your insurance company is obligated to pay for a new roof if significant damage is present.

You have paid for a new roof replacement over time, year after year through your insurance premiums. If your roof is damaged, it should be replaced by your insurance company. We will be happy to walk you through the claims process.

MAKE YOUR CLAIMS PROCESS SIMPLE

My Home Roofing & Renovations have insurance claim professionals waiting for your contact and looking forward to helping and assisting you with your insurance claim process. Our advice and guidance will allow you to enjoy a stress-free experience while dealing with your insurance company in getting a full roof replacement.


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