Navigating Insurance Claims
Fortunately, most of us have never needed or wanted to be at the mercy of our insurance company in the time of a crisis. We have been paying for years in order to have a sense of security that we will be taken care of should a need arise … and this situation becomes the time to find out how well and positive, or sadly, how unfair and difficult, the process with our insurance company and lender will be.
We want to help you through it all.
Keep reading for more on Navigating Insurance Claims. And when you have a roofing or interior restoration crisis, call the experts at RA Cooks Renovations for your free inspection and estimate at 937-938-6911.
How Do I Get Started?
Let’s face it—you’re busy and you don’t have the time to try to navigate the potential obstacles of an insurance claim. That’s why a contractor like RA Cooks Renovations is by your side throughout the process, working directly with your insurance company when you have a damage claim.
The first step will be to notify your insurance provider that you have damage and want to open a claim. It’s important to remember, your insurance company is not allowed to require a particular contractor when you have a roofing claim. This important decision is yours.
When you have decided on a contractor you want to work with, the second step is to complete and sign a Third Party Authorization Form giving permission for your roofing or restoration contractor to communicate and work directly on your behalf with your insurance adjuster and your claim rep.
Your contractor, such as RA Cooks Renovations, will complete an inspection and provide proof of damage as well as a cost estimate. We will also meet with the adjuster on-site to go over all of the details together.
Then, your insurance company will provide you with your Replacement Cost Value (RCV). This is the total value of work to be performed before supplements and code upgrades; the amount the insurance company expects to pay.
Your RA Cooks Renovations representative will review this paperwork to evaluate what they are and are not going to replace; and explain the terms that most people are not accustomed to, as well as what it all means.
Keep reading to learn more about supplements and code upgrades….
What Are Supplements?
Supplements are often referred to as the “back-end costs”. These costs are expected by the insurance company but cannot be determined or included in the RCV until the roofing or interior restoration work is underway. Examples for a roofing claim would include deteriorated decking, hip & ridge cap shingles, and flashing materials; and for an interior claim could include mold within the wall, or electrical or plumbing damage not seen until the damaged drywall or flooring has been removed.
What Are Code Upgrades?
Code upgrades are items that weren’t required by your local zoning codes at the time your house was built that are now mandated. Current roofing examples include installing drip edge, ice & water on your drainage eves and even installing plywood if you have a wood roof.
If your policy does not have code upgrades included – it’s a common way for an agent to try and save you a few bucks on your monthly payment – you as the homeowner will be responsible for paying for these upgrades, in addition to your deductible.
If you do have code upgrades as a part of your policy, everything is covered and you will only be responsible for your deductible.