The duty of an insurance adjuster is to give you an accurate accounting of everything that was damaged by the storm and a written estimate of what it will cost to put your property back to the condition it was in prior to the storm. However 9 times out of 10 the adjuster falls short of creating an accurate estimate- this is usually not due to malice towards the homeowner but rather it is that most adjusters especial in large catastrophic hail event are overworked. Imagine inspecting 8+ houses in a day and then going back to your hotel and writing up the estimates, things are going to be overlooked measurements are going to be inaccurate, code items are not going to be researched or included and policy language is going to be improperly interpreted. Also adjusters work for the insurance companies so they are also instructed to exclude certain items in the hopes that the homeowner accepts the low estimate and they limit their expenses.
Fear not if you are feeling the adjustment and claim estimate is low remember only the insurance companies initial estimate. We are experienced claims professions who know the ins and outs (games) that the insurance companies operate under. Homeowners have the right to get a second opinion from the insurance company via a reinspection. At a reinspection the insurance company sends out a second inspector who is looking for the additional damage that was overlooked by the initial adjuster- for instance:
- additional damage to a wood shake or asphalt roof that takes your claim from a repair to a full replacement
- A house that had some touch up paint to coverage for a whole repaint of the house
Remember the reason for insurance is to get your house to preloss condition after a Claim. We are here to assist you in doing so. Most times this is a quick process but occasionally we need to bring in outside professionals to assist us- public adjusters, engineers, and legal expertise that are able to assist you seeking resolution to your claim and give you the peace of mind you deserve. Give us a call to discuss your claim concerns.
Here are some examples of our past Successes:
Paus- Wood shake homeowner who got a small repair on and ACV policy. After two inspections and some assistance from a public adjuster claim was increased to where she received a full roof replacement with Grand Sequoia Designer shingles for no money out of pocket.
Bel-Rae Institute of Animal Technology- Initial claim estimate $1,800 increased to a bit over $100,000 including coverage commercial of HVAC system. We engaged a local Public adjuster to guide us through a 2 month approval process.
Our team of roofing professionals can explain the difference between the confusing terms of replacement cost value (RCV), actual cash value (ACV).
Most home owner policies are replacement cost and will pay that amount even though the actual cost may exceed the adjusters estimate. The loss statement will reflect the replacement cost value (RCV), the depreciation, and the actual cash value(ACV) of your loss. The (ACV) column of the statement will reflect the amount of your first check minus your deductible. The depreciation column should be called the deferred column as it reflects the money held back by the insurance company until the work is complete and an invoice is submitted by the contractor for payment. The insurance company will then issue another check to you for the exact amount between the final bill, and (ACV) portion of your first check relating to that particular repair.
The (ACV) and the depreciation columns of your statement will total up to the (RCV) column of the statement. Insurance companies hold back money to track whether or not repairs are made and to insure that they pay no more than the replacement cost of the damage. Most insurance companies send catastrophe teams into storm situations, and the adjusters come from all over the country to work the claims. Although most are well trained and experienced some are not, and would not know hail damage if it hit them on the head. In any case, the adjusters are representing the insurance companies and it is the company’s interest they are hired to protect.
For that reason, they will tell you to get estimates to repair the damage, most will not tell you that you are spending your time shopping for the insurance company, as they have held out money as depreciation and will pay only the (RCV) for the repairs. As time goes on many home owners will realize that it is reputable companies like Infinity Roofing & Siding that are actually looking after their interests in the repair process.
Have questions regarding your residential or commercial roofing project? Have you been told that the damage to your property was not related to the storm in your area? Are you sure that the last contractor you had inspect your property gave you accurate and honest information regarding the damage to your property?
When dealing with storm related property damage claims, its important to understand that no two claims are the same and it’s equally important that a qualified contractor conducts a thorough inspection prior to calling in a claim.