At Elite Roofing we understand that filing a homeowners’ claim can be both daunting and overwhelming at a time when you’re probably already stressed. However, educating yourself about the insurance claims process can make the whole thing less intimidating and ultimately protect you and your property. This is why we’re devoting today’s post to understanding the roof insurance claim process. And for more on the topic, check out our video linked here!
Type of Insurance Policy
Before getting into the claims process, it’s important to first familiarize yourself with your insurance policy. There are two main types of homeowners’ policies, and each uses a different method of calculating the value of your home and potential loss.
Actual Cash Value (ACV)
Actual cash value policies are less common than RCV, and they typically cost less because they offer reduced coverage and higher depreciation. The way a claim payment for these policies is determined is by using the value of your property at the time of the loss.
In other words, if your roof was damaged in a storm shortly after installation, you’ll likely receive a payment comparable to the cost of a new roof. However, older roofs will be valued much lower due to depreciation. As a result, policy holders typically incur much higher out of pocket costs with ACV policies.
Replacement Cost Value (RCV)
These policies tend to be a bit more expensive and, as a result, policy holders enjoy full replacement coverage. With an RCV policy, you will have a single out of pocket expense to cover your deductible, and your insurance provider then will step in to cover the remaining cost of your roof replacement.
The Roof Insurance Claim Process
There is no need to be intimidated by the insurance claims process; it’s actually quite straightforward and predictable. You can expect the entire process to follow this cadence:
Professional Roof Inspection
Before calling your insurance provider, you’ll first want to schedule an inspection with a professional roofer. This is critical for a number of reasons. You may find that you do not have roof damage extensive enough to warrant an insurance claim.
However, should you find that you do need to file a claim, your inspection will provide a clear picture of the condition of your roof and give you a ballpark estimate for the extent of the damage. This information will be imperative for advocating for yourself as you interface with your insurance company.
File Insurance Claim
If you determine that you do have enough damage to substantiate an insurance claim, this is time to reach out to your insurer. Carefully review your insurance policy and gather all necessary materials before filing your claim.
Insurance Adjustments
After filing a claim, you will be assigned an insurance adjuster who will be charged with inspecting your roof and any other portions of your property that may have sustained damage. Your adjuster will visit your property and determine the extent of the damage.
During the walkthrough with your adjuster, it’s a good idea to have a roofer present. A professional roofer (particularly one who has already inspected your roof) will be able to point out damaged areas to your adjuster to ensure nothing is missed during the adjustment.
First Insurance Estimate & Check
Once your adjuster has surveyed the damage, they will provide an estimate for repairs and present you with your first check.
Send Check to Mortgage Company
If you have a mortgage company, you will need to send your check to them to have it endorsed. This is very critical to remember so that your mortgage company does not hold up the process of repairing your roof.
Construction
At this point, roofing work can begin. Depending on the extent of the damage, your roof may simply need minor repairs or it may need to be fully replaced. In either case, your roofing contractor will order materials and begin the construction process.
Complete Supplement Process
Work with your contractor’s supplement department to ensure all project specs are accounted for and accurate. This is critical in ensuring that your roof repair or replacement is fully covered.
Second Insurance Estimate & Check
Once the supplement process is complete, you will receive your second and final check along with your final project scope.
Close Your Project & Warranty Paperwork
Once everything is complete, it’s time to close the job with your contractor and receive your final warranty paperwork.
Want more information? Watch this complete video in which our Founder and CEO Randy Brothers walks you through each step of the roof insurance claims process—and remember, we’re always here to provide insurance claim help for your home.
Schedule Your Free Roofing Inspection Today!
Are you still unsure of the insurance claims process, or simply looking to further improve your understanding? Schedule your free roofing inspection with Elite Roofing and our team will be happy to walk you through each step of the process. Contact us today!
**ELITE ROOFING IS NOT A PUBLIC ADJUSTER AND DOES NOT ACT AS ONE WHEN WORKING ON OUR CLIENTS’ BEHALF.**
