In a hail or wind storm, damages to your roof and property may be difficult for an untrained eye to spot. It’s best to have your roof and property inspected by a state licensed roofing and restoration contractor, such as Tru-Tek Home Solutions, LLC, to determine if there is enough storm-related damages to justify contacting your homeowners insurance company and filing a claim. You don’t want to wait too long, as issues related to the storm damage could worsen or even cause further damages to your property.
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Most all homeowner policies cover for full replacement value of damaged items. The first check the insurance company issues is the Actual Cash Value (ACV); what the roof or item is worth today in its current condition. Replacement Cash Value (RCV) is what it would cost to replace or restore the roof or item back to new, or pre-storm condition. The difference between ACV and RCV is the depreciation. This deprecation is recoverable and non-recoverable, depending on how your policy is structured. If it is recoverable, the remaining depreciated funds will be released once the work or project is completed, and required documentation is received by the insurance company. This final depreciation check belongs to the contractor for the work provided.
There are two reasons that insurance companies may withhold depreciation. The first reason is to make sure that a credible contractor, such as Tru-Tek Home Solutions, LLC completed the work. Past experiences have shown that if they give the customer all the money up front, many homeowners end up spending it or simply never complete the repairs needed. If the work is never proven to have been completed, the final funds, depreciation, will not be released.
The second reason is that they wish to make sure that you pay your full deductible. In most cases, the insurance company will require a final invoice from the contractor. If the final invoice
Legally, you can’t. Of course, a roofer in collusion with a homeowner can submit falsified invoices. However, doing so is insurance fraud. Please don’t ask Tru-Tek Roofing to do this.
When most people look at their insurance paperwork they are confused, because they think the insurance company deducted their deducible from the money the insurance company has sent out. However, the deductible is the amount that the homeowner is responsible for paying directly to the contractor, Tru-Tek Roofing. The insurance company subtracts the homeowner’s deductible amount on the paperwork from the total amount on the insurance company allows for the claim, since the homeowner will pay their deductible directly to Tru-Tek Home Solutions, LLC. The balance after subtracting what the homeowner will pay directly to Tru-Tek Roofing as a deductible is the total amount the insurance company will actually pay for the claim.
No two houses receive the same amount of damage in a storm. Your neighbor may have sustained extensive damage, and you many have received none. The insurance company will only pay for the actual damages incurred. If the entire roof was damaged, unfortunately, the insurance company cannot pay for the whole roof. However, if it is borderline, it always helps to have Tru-Tek Home Solutions, LLC Inspect the roof with the insurance adjuster to accurately access all the damage to the roof. Sometimes, insurance adjusters may not be able to see all the damage if they’re not able to walk on a steep roof and photograph certain areas. Excellent roofing ensures a helpful presence to look out for your best interest and assist the insurance adjuster if needed with damage assessment, photographs, and measurements.