|Dealing with a costly insurance claim can be very frustrating on multiple levels. Property owner’s often find themselves stuck between contradicting insurance adjusters and contractors, each with their own agenda. Knowing your rights in an insurance claim is just as important as knowing the rules and at Dimensional Roofing & Diagnostics, we believe that enlightenment is bliss.
With Licensed Insurance Adjusters on staff to help navigate you through your claim, you can feel confident that your claim is being handled by individuals who are familiar with department of insurance protocol and regulation. Our sales consultants are also Haag Engineering Certified Roof Inspectors. Haag Engineering is the leader in residential roof damage assessment. With input from manufacturers, insurance professionals and roofing contractors, Haag Engineering has defined the standard for conducting roof inspections. This advantage can save you costly time, frustration and ensure that your claim is awarded to you satisfactorily. Since insurance companies are large corporate entities that operate via systems and processes, understanding and accepting these processes are critical in a diplomatic resolution to your claim. Dimensional Roofing & Diagnostics is proud of its ever strengthening relationship with local insurance carriers as it has impacted how our customers are positively treated as well. Let Dimensional Roofing & Diagnostics be an extension to your business or family and learn once again that Progressive Thinking means Precision Results.
Property Insurance 101 – Frequently Asked Questions
- Q- My property was hit by a hail and wind storm but I don’t see any damage. Should I call a contractor or the insurance adjuster first?
- A- You should call the contractor first. Have them provide a written report of the damage found and the cost to repair it. If they DO report damage, then call the adjuster for confirmation and claim filing. Many insurance companies will not send out an adjuster until you have had a contractor look at it.
- Q- If water is coming in the property and is causing more damage, should I have it repaired before the adjuster comes out?
- A- It is a requirement of your insurance policy that all damage must be mitigated to prevent any additional damage. This means if water is entering through a hole, skylight or other opening, it must be tarped to prevent additional damage. If the damage is not mitigated, the subsequent damage can be denied coverage by your insurance carrier.
- Q- My insurance adjuster told me that I need to submit three bids. Is this true and if so then why?
- A- You as the policy holder are NOT required to provide three bids. Often times, property owners already have existing relationships with contractors and know they are going to utilize their services. It is your right to choose ANY contractor you wish. This does NOT mean that the chosen contractor can charge any amount they wish. The cost must be approved upon by the insurance company. The reason insurance companies ask you to put the job out to bid is to determine local market rate on your job. This helps to deny a contractor who is over charging by having evidence that other contractors are available to do the work for less.
- Q- My contractor requested that he be provided a copy of the estimate my insurance company gave to me. Should I give it to him or should he “bid” on the job without seeing the estimate?
- A- Yes, you SHOULD provide your contractor with the estimate because the dollar amount the insurance company is paying is the amount the contractor must invoice for. Also, the contractor will look to ensure that the insurance company is paying for ALL damaged property. Since you the property owner will want to know that ALL of the damage property is fixed, it is paramount to ensure the insurance company is paying the contractor for fixing it.
- Q- What is “depreciation” and how does it work?
- A- When your insurance adjuster inspects your roof, he will ask the age of the roof. After inspecting it, he will decide how much to depreciate for its current age and condition. Suppose he depreciates the roof 20%, that dollar amount will be temporarily withheld by the insurance company until they receive proof, in the form of a signed contract or final invoice that the work will be done or has been completed. The depreciation is only recoverable by the property owner if the policy is an RCV policy. RCV means Replacement Cost Value.
- Q- What are the consequences with my insurance company if I file a claim, receive compensation for damages and choose not to make the repairs?
- A- If you receive funds for repairs to a roof from an insurance company and choose not to make the repairs then;
- The roof will no longer be covered by the insurance company from future damages.
- Any subsequent damages as a result of the damaged roof will not be covered.
- The depreciated amount will not be recovered by the property owner.
- Q- Do my rates go up if I decide to file a storm claim?
- A- Your premium rates will not go up as a result of just YOU filing a claim. If a geographical area is damaged by a storm, ALL of the insured’s in that area will most likely experience an increase in premium. So if you live in this affected area, your claims will likely raise regardless of whether you file a claim or not.