When You Get Your Estimate
Following your roofing insurance claim getting approved, your insurance company should send you a detailed estimate from your insurance company along with a partial payment for repairs. Once you have received your estimate, give your team at Integrity Roofing a call. We will look over the estimate and provide you with a thorough explanation of all of the items.
Typically, the insurance check is mailed separately. It is standard for insurance claims to be paid using a two-check process. The first check will cover the initial repairs while the second check covers the completion of the needed repairs.
FAQ:
What does ACV and RCV imply on my insurance estimate?
The insurance settlement and payment is based upon your policy provisions, terms and coverage.
- The (ACV) represents (Actual Cash Value). Your first insurance check is paid based on the (ACV). This is usually determined by the age of your roof and the current worth of your roof today.
- The (RCV) represents (Recoverable Cash Value). This is the amount paid upon the completion of all repairs. If all repairs are completed, you will be paid the additional RCV.
This breakdown of your estimate can cause you to be confused about how much you will have to pay out of your own pocket. But in many cases all you will be responsible for is your deductible.
Why does my insurance check include the name of my mortgage company?
Since you have a mortgage on your home they own the deed and rights to your home until you pay it off. Therefore the insurance will send the check with their name on it as well.
Integrity Roofing will insure your mortgage company receives all documentation required to proceed with your claim.
Once your mortgage company processes the initial check, they will release it back to you. This initial check usually is applied as a deposit to start the repairs.
Why does my insurance check include the name of my mortgage company?
A difference in price between your contractor’s estimate and your insurance estimate is very common. The Integrity Roofing and your insurance company use very similar estimating software to determine the exact cost of repairs. However, due to local price increases, missed items, and incorrect measurements you may notice a difference in the price of both estimates.
Your Integrity Roofing representative will contact your insurance company and make necessary adjustments to the original insurance estimate. We will meet an agreed-upon price for all repairs with your insurance company. If you have any problems do not hesitate to talk with your insurance professional at Integrity.
Will my insurance rates increase since I filed a claim?
When your home is damaged from a storm most people start worrying about their insurance premiums rising out of control. Your insurance rates do not automatically increase due to filing an insurance claim. Generally, when a storm is labeled a catastrophic event due to hail and wind, it will affect a large geographical area. The insurance rates of properties within the affected area may increase regardless of whether you file a claim or not. You should always feel free to call your local insurance agent to discuss your individual circumstances and concerns. Integrity Roofing is here to help.
Why Choose Integrity
Integrity is a team of professionals located in Southern Illinois and Western Kentucky. Our local professionals are trained to develop relationships with insurance companies and get you the best deal possible! The severity of the damage doesn’t matter! Integrity will use our expertise to develop an easy-to-understand insurance plan. We will always keep you in the know and will easily be able to complete the claim process effectively.
Act Now, Don't Wait
If you are located in Southern Illinois or Western Kentucky and are in need of an inspection or suspect that your roof is damaged, don’t wait. The insurance claim process is long and often time confusing, so it is important to get the help you need early.
“Our mission is to help our customers protect what matters most by serving with character and purpose that brings honor to God”
Choose Integrity Roofing for professional roofing contractors in Southern Illinois or Western Kentucky. We are a top choice roofing company backed by the nation’s best warranties. Contact us today to learn more.
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