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Filing an insurance claim for damage sustained in a tornado, hail storm, or other type of catastrophe is not something most of us do often. The process can be intimidating, confusing and time consuming, especially if certain protocol is not followed.
As an established general contractor who is already familiar with the claims process we will ensure your property is properly restored. ERP specializes in the insurance restoration process. Our professional and courteous staff are here to offer our assistance in the insurance claims process.
If you suspect hail or wind damage from a recent storm, the first call should always be to an experienced roofing and siding contractor. By choosing ERP as your insurance restoration specialist, we will conduct a FREE complete, non-invasive inspection of your property for any and all storm-related damage. If there is damage, we will find it. We will photo-document and review in detail with you all of our findings.
No Damage: If we don’t find enough damage to warrant an insurance claim, we’re happy to give you the peace of mind that your home is in fine condition and an insurance claim is not necessary at this time.
Damage: If there is damage to your property, we will recommend filing an insurance claim to restore your home back to, if not better than, it’s pre-storm condition.
Will filing the claim raise my insurance rates? NO!! This is precisely why you pay your annual dues to your insurance company. These catastrophic storms are considered Acts of God. You did nothing to cause the damage to your home, and it will not be held against you if you choose to get it repairs.
If damage is found, the first call should always be to your insurance company’s claims office – not your personal insurance agent. Most agents are not responsible for or trained to handle the claims aspect of your policy.
The claim handler will assign claim number and a claims adjuster. Write this number down, as it will be very important throughout the process. Call your ERP representative and provide the adjuster’s name, contact information and appointment time, if an appointment has already been scheduled. ERP will negotiate with the insurance provider for a fair insurance settlement.
Shortly after filing a claim, a field adjuster from your insurance company will contact you to schedule a time to inspect your property. Let your ERP sales representative know the day and time of your adjuster meeting, and we’ll be there. As much as they appreciate your business, the insurance carriers ultimate goal is to keep their expenditures down. Thus, it is critical for your ERP representative to attend the initial inspection meeting to serve as your advocate.
A field representative from ERP will meet with the insurance adjuster and go over all of the damage together, making sure that your inspection is thorough and that no damage is unaccounted for.
Whenever possible, your ERP representative will provide a satellite imaged, engineered report detailing the exact roof measurements which will further assist in documenting the damage.
Once the insurance adjuster inspects the extent of damages to your home, he or she will provide a claim summary detailing the scope of repairs or replacement. Most insurance providers use a pricing software called Xactimate to determine the fair market price of your roof replacement. For this reason, ERP also uses Xactimate, ensuring that all of your losses are fully accounted for. When you receive the adjuster’s claim summary we will review it to ensure every detail is accounted for.
From time to time, the pricing on the adjuster’s claim summary can fall below what is considered fair market value. If any items are omitted, or there is a discrepancy, our insurance claims professional will negotiate the difference with the insurance company on your behalf. This isn’t always necessary, but when it is, it’s a great benefit for the homeowner to have a company like ERP that is familiar with all insurance companies on your side.
Once the negotiation process has been completed, the insurance company will release a supplemental check to cover the additional amount that was determined through negotiations with the insurance representative.
The Supplement Process is handled 100% by ERP, freeing you of the inevitable paperwork, phone calls, and stress.
When you receive the initial check from your insurance provider, it may have your mortgage company’s name on it, in which case you would have to contact them to find out the proper procedure for getting their endorsement. Each company has specific directions to follow. There may be additional paperwork needed by the mortgage company. This process can take some time, so it's crucial that we work together to move the claim forward as quickly as possible. If a supplemental check is issued, it too may have the mortgage company listed on it and the same procedures would need to be followed. Those funds would be payable towards the new negotiated roof replacement total.
The initial check may seem small compared to the full amount of the roof. There are two reasons for this – (1) the depreciation, and (2) your deductible.
Depreciation: Most homeowners choose to insure their home with a Replacement Cost Value (RCV) coverage policy, as opposed to a Actual Cost Value (ACV) coverage policy. Payment based on the replacement cost of damaged property is usually the most favorable figure from a homeowner’s point of view, because it compensates the insured for the actual cost of replacing the damaged roof, with a brand new roof – at current market rates.
If you have a Replacement Cost Value (RCV) coverage policy, the insurance company will disperse the remaining balance in the form of a depreciation check, which is withheld until after the work has been completed. If you have a RCV policy, the depreciation amount that is retained by the insurance company will be issued to you after the replacement of your damaged items is complete.
Deductible: The deductible is the portion withheld by the insurance company that you have to pay out of pocket to have work completed. The deductible is your co-pay which you will pay to ERP.
The full cost of the roof replacement is the sum of the first insurance check, your deductible, the amount of depreciation and any supplements.
Once the first insurance check, deductible and insurance loss statement are received ERP will do our best to have your job started within one week's time (weather permitting)
Replacing a roof, siding, or gutters is a major undertaking, on the biggest investment of your life: your home. We take every precaution necessary to ensure that you are 100% satisfied with the repairs that will be done to your home. Here are a few things that we promise, and a few things we suggest:
After the roof has been installed, ERP will provide the necessary documentation to the insurance company to let them know the work is complete. If the depreciation withheld is recoverable, we will ask for the release of those funds. It is possible that if a supplement was negotiated that it may be included in the final check along with the depreciation.
Beware - If you have been approached by a contractor with a lower bid than the insurance loss statement your insurance company will not allow you to keep the savings. Either you or your contractor has to provide a false invoice to the insurance carrier to recover the depreciation. If a contractor has presented this illegal offer of savings you may be in danger of participating in insurance fraud.
Once you receive your last insurance check, and mortgage company endorsements are made, we will collect the final amount due on the roofing and/or siding job.
