Property Insurance Claims 101

Apple Roofing is happy to give you a free roof inspection for damage that may have occurred to your home. One of our fully trained and experienced representatives can inspect your property before you file a claim. This way, you don’t risk your insurance company dropping your coverage because you filed an unnecessary claim. It’s smart to get a professional opinion before jeopardizing your low deductibles and reasonable rates. 

It’s as easy as…

  1. Call a reputable contractor.
  2. Have the contractor determine if the property was damaged: If that damage exceeds your deductible. (This is important to minimize your claim history, which could cost you down the road, even if your claim is denied!).
  3. File a claim with your insurance agent: If the damage exceeds the deductible. Determine when the adjuster will be available to meet with you AND your contractor
  4. Authorize the selected contractor to repair: After you, your insurance company, and the contractor determine the damages and agree upon the cost of the repairs. Discuss time frames, expectations, and payment terms before authorizing the contractor to proceed.
  5. The job is scheduled and the roof is built: The time of replacement can vary due to weather, home size, and pitch of roof. Read the “Construction Zone” guidelines to know what to expect.
  6. Send insurance the certificate of completion: After the work has been completed, get a Certificate of Completion from the contractor and send this to your insurance agency in order to receive the RCV (Final) payment. Some companies will assist you with this.

Insurance terminologies defined:

ACV (Actual Cash Value): In the property and casualty insurance industry, ACV is a method of valuing insured property, or the value computed by that method. ACV is not equal to replacement cost value (RCV). ACV is computed by subtracting depreciation from replacement cost. For Example: you have a fire loss at your home that was built in 1980. The fire causes $100,000 RCV in damages. The insurance company deducts $30,000 in depreciation from the RCV of $100,000 and issues an ACV payment of $70,000.

RCV: You would only be able to recover the depreciation of $30,000 if you incurred that expense over the ACV payment of $70,000. The insurance company would require additional documentation (i.e. receipts, contractor’s invoices, and/or a completion inspection) before the recoverable depreciation could be paid.

DEPRECIATION: The deduction based on the age and useful life of that item(s).

Warranty Information

Apple Roofing provides one of the best warranties in the industry and strives for continued service after your work has been completed. Apple Roofing provides “Core Protection,” a 10 year labor warranty with a preventive maintenance plan for your home.

If you have already determined you have hail damage, Apple Roofing will give you a free estimate to replace your roof and will assist you with hard-to-understand insurance paperwork. Apple Roofing will walk you through the necessary steps to close your claim in a timely manner. Our goal is protecting your investment.​​

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