The Insurance Claim
Tutorial Guide to the Insurance Claim Process
Roof Inspector NM works with all insurance companies
This can be a confusing process for many people, especially if you’ve never been through it, so we will either walk you through the process or upon your request, deal directly with your insurance company.
You would not go to court against your insurance company without representation, why would you not have representation with your insurance company on your roof. Not all Insurance Companies are created equal and a few could care less how long you've been with them paying your premiums year after year.
We have helped countless Property Owners, both residential and commercial, in New Mexico with their insurance claims and roof replacement. Our process will help you determine whether or not you may be eligible for a new roof system, paid for by your insurance company.
If you have concerns with your roof and are considering filing a claim, here is a step by step procedure to make the process go smoothly.
First you should call Roof Inspector NM to inspect your roof for damage, not all roofs have damage, just because your neighbor filed a claim and got a roof, does not mean you get a roof. Not all Insurance Companies are created equal. The hail may or may not have been large enough to cause damage to your roof, determining factors for damage are the type of roof (composition) and the age of the roof. Not all roofing companies or roof inspectors are qualified or certified to inspect for hail damage. I can't tell you how many times I've been on a roof that was previously inspected by a so-called roofing expert and they could not recognize hail damage. If your certified roof inspector says you have hail damage, then proceed to the next step.
The next thing you will want to do is allow Roof Inspector NM to assist you in filing the claim, your insurance company will ask particulars in regards to the Date of Loss, the damage particulars and the amount of damage to your roof (The Roof Inspector NM, having been on your roof, knows what to tell your insurance company).
Most insurance companies will have an insurance adjuster contact you within about two days and they will set a date and time up with you for the insurance adjuster to meet at your house.
It is very important that you let Roof Inspector NM know the date and time, so we can make arrangements to be there as well.
Roof Inspector NM, "The Home Owner Advocate", will want to meet with the adjuster to represent, you, the Property Owner, to make sure that they see the same damage, noted on your initial roof inspection and to just simply help with the roof measurements and make sure everything gets looked at and put on the claim correctly, the first time. (Roof, Gutters, Skylights, Power Vents, Screens, Garage Doors, Siding etc.)
When you meet with the adjuster he will, typically, let you know if the insurance company will pay the claim or not. If they pay the claim, you should receive a package from the insurance company in about a week or less.
The package will contain approximately 6-12 pages of a breakdown of the items and amounts the insurance company is paying. It will also include a check. It is a good idea to give your roof inspector a copy of your estimate up front and then you can sit down with them and go through the insurance pages’, line by line to verify figures. On the last page it will have a breakdown of the dollar amounts:
1. Total Claim = The total amount paid out by the insurance company.
2. Depreciation = This is where knowing your policy comes in handy. There are two types of depreciation, recoverable and non recoverable or sometimes called actual cash value (ACV). Recoverable depreciation means you will get this amount back when the work is completed and all paperwork is turned in. Non recoverable or actual cash value means you will not receive this money back.
3. Deductible = Most homeowners have a $500 or $1,000 deductible, some have a 1% deductible. Example if your house is insured for $200,000 than your deductible would be $ 2,000. This amount is automatically taken out of the claim amount.
4. The end number should be the same amount as the first check you received with the packet.
Also note that the check from the insurance company may be solely made out to you, in which case you would just deposit it into a secure account or it might be made out to you and your mortgage company. If this is the case you will have to contact the mortgage company and find out their process of getting them to endorse the check. Unfortunately all mortgage companies handle this process differently and there is no set standard.