The Insurance Claims Process
Without physically getting on the roof, it is difficult to know if you have had hail or wind damage (rarely visible from the ground). If you are not sure whether or not you have sustained damage, contact MS R&I Construction, LLC for an inspection and/or estimate. Some insurance companies have strict timelines for you to file a claim (six months with some carriers). The age of your roof does not matter.
In order to properly file insurance claim on your roof, be sure to take the following steps:
Note the date of loss (date of storm)
Avoid storm chasers (out of town roofers)
Get an opinion from a local professional expert
MS R&I CONSTRUCTION LLC 715-574-0334
Check to make sure your roofing company is licensed, bonded, and insured.
Have your contractor meet with your insurance adjuster to ensure that your insurance company will cover the full cost of repairing or replacing your roof. If you don’t get the full amount needed to repair your property, ask your contractor to get involved with your insurance adjuster to fight on your behalf for a fair settlement.
My insurance company said I need to use their preferred roofer?
Not true at all… You are allowed to use any contractor you choose. So be sure to pick the best contractor you can. Pick the best and pay only (your deductible)!
Insurance Terms Glossary
The following is a list of words that you may find on your insurance claim.
Line Item Total:
This is the total value of all line items in your insurance estimate plus adjustments for base service charges. Base Service Charges are additional charges that account for the cost the contractor or service provider incurs when mobilizing, scheduling, and transporting people and materials to the job site, and may be included in the line item portion of your insurance estimate.
General Contractor’s Overhead and Profit:
General contractor’s charge for coordinating your repairs.
Replacement Cost Value (RCV):
Estimated cost to repair or replace damaged property.
The decrease in the value of property over a period of time due to wear, tear, condition, and obsolescence. A portion or the entire amount may be eligible for replacement cost benefits.
The insurer will pay for losses, up to the policy limits, in excess of your applicable deductible. You are responsible to pay your deductible.
Net Actual Cash Value Payment (ACV):
The repair or replacement cost of the damaged part of the property less depreciation and deductible.
Non Recoverable Depreciation:
Depreciation applied to items that are not eligible for replacement cost benefits. This is very rare, so be sure to ask why this item shows up on your insurance claim if it is there.
Total Maximum Additional Amount if Incurred:
Total amount of recoverable deprecation after actual repair or replacement of the property.
Total Amount of Claim if Incurred:
Total amount of the claim, including net actual cash value payment and total maximum additional amount available if incurred.
Explanation of Replacement Cost Coverage
Your insurance policy, in most cases, will provide full replacement cost coverage for most of the loss or damage done to your home. Replacement cost coverage pays the actual and necessary cost of repair or replacement (not just the estimated), without a deduction for depreciation, but subject to the limits of liability in your particular policy.
To receive replacement cost benefits (your recoverable depreciation), you must:
Complete the actual repair or replacement of the damaged parts of the property within the allotted amount of time (typically six months or one year from the date of loss); and
Notify your insurance company within 30 days after the work has been completed; and
Confirm completion of the repair or replacement, by submitting invoices, receipts and any other documentation to your agent or claim office.
Until these requirements have been satisfied, the insurance company’s payment(s) to you will be for the actual cash value of the damaged part of the property, which will most likely include a deduction for depreciation.
Typically, your insurance company’s estimate is not enough to repair the damages, which is why it is important for you to get an experienced professional contractor to assist you in making sure you are getting a “fair market value” settlement.
Note, there may also be building codes, ordinances, laws, or regulations that will affect the repairs of your property. These items may or may not be covered by your policy. This is also another good reason to hire a local, licensed, experienced professional contractor who understands any issues that may arise.
My insurance company said I have to get 3 estimates. Why can’t I chose who I want to use?
You do not have to get 3 estimates. Your insurance company may be trying to get you to accept the lowest bid to do the work, instead of who you feel is the best contractor to do the work. You have the right to choose whichever contractor you are most comfortable with and who you believe will do the best work. Use who you want to use!
Remember, your deductible stays the same, whether you use a qualified contractor or a low bidder. Go with quality and don’t cut corners on your roof.
My insurance company wrote a check to me and my mortgage company. What do I do?
In most situations, under the terms of your insurance policy contract, any loss payable for damage to your building may be paid to both you and your mortgagee, as both have an insurable interest in the home. In most cases, your insurance company is unable to remove the mortgagee from your check without their written permission. To endorse the check, contact your mortgage company and they will guide you through their procedures to endorse insurance checks.
If my policy provides full replacement cost coverage, why am I not being paid full replacement cost?
If your policy provides replacement cost coverage, the loss settlement conditions state that the replacement cost is paid only after repairs are completed and that money has actually been spent towards the repairs.
1. CHIMNEY BASE FLASHING: A corrosion-resistant sheet metal installed at the base of a chimney to prevent leaks.
2. EAVES: The lower border of a roof that overhangs the wall.
3. FASCIA: The vertical board at the eaves, oftentimes covered with vinyl or aluminum.
4. HORIZONTAL SIDING: Provides style and functionality. Available in various materials, colors, textures and designs.
5. HOUSEWRAP: Material designed to allow moisture to escape and to prevent air from coming in.
6. LOOKOUT: A horizontally positioned board used to brace the trusses of a roof
7. RAKE: The outer edge of a roof from the eave to the ridge.
8. RIDGE BEAM: The top support beam between opposite slopes or sides of a roof.
9. RIDGE SHINGLES: Shingles used to cover the horizontal external angle formed by the intersection of two sloping roof planes.
10. DRIP EDGE: A narrow strip of non-corrosive, non-staining, finishing material installed along the eaves and rakes to allow water run-off to drip clear of underlying construction. On eaves where gutters are present, this material is commonly called gutter apron.
11. ROOF SHEATHING (boards): The structural base of a roof. Also called the roof deck, or decking.
12. ROOF SHEATHING (plywood): The structural base of a roof. Also called the roof deck, or decking.
13. ROOF TRUSS (rafters): The framework that supports a roof.
14. SHINGLE SIDING: A siding option typically manufactured from red cedar, which weathers to a silvery gray or medium brown, depending on local climate; and white cedar, which weathers to a silvery gray.
15. SHINGLES: The outermost covering of a roof. Composition shingles are manufacured from materials “composed” of fiberglass, modified asphalt and mineral granules. Wood shingles and shakes (shakes are split rather than sawn) are made from western red cedar. Other roofing options include clay and concrete tiles, slate, metal, mineral roll roofing, and tar and gravel.
16. SOFFIT: The finished underside of the eaves. Soffit panels are available in wood, vinyl and aluminum.
17. STEP FLASHING: A corrosion-resistant sheet metal used to waterproof the angle between a chimney, skylight, dormer, etc. and a sloping roof.
18. UNDERLAYMENT: An asphalt-impregnated felt laid under most roofing materials as a secondary water barrier. Felt is classified by weight per “square,” (100 sq. ft.) usually 15 or 30-pound. Underlayment is also called tar paper or felt.
19. VALLEY: The intersection of two sloping roofs joining at an angle to provide water runoff.
20. VALLEY FLASHING: Made from aluminum or galvanized steel, this additional water barrier is installed after the roof and valley have been covered with underlayment.
21. VENT FLASHING: A flat piece of pre-cut sheet metal installed on top of the underlayment to prevent leaks from occurring where roof vents are present.
22. VERTICAL PANEL SIDING: Plain, patterned, or grooved panels of plywood or hardboard that provide style and functionality.
23. WALL SHEATHING: The first covering of boards on the outside wall of a frame house.
24. WALL STUD: An upright piece of wood used to frame a house and support the walls of the structure.