Commercial Roofing Insurance Claims
A failed roof on its own isn’t exactly fun. The insurance claim that follows can be an additional stress. Existing damage can soon create more and the process to address it can be fraught with complexity. Like it or not, your best bet is to begin the process right away and work through it as fluidly as you can.
We bring extensive experience to our work with building owners, managers, and property representatives to shine light on the claims process. The end is in sight. We can reduce the headache along the way and get you there as soon as possible. With thousands of claims behind us, we can tell you what you need to know and guide you through the process from start to finish.
A roof damage claim begins with a complete inspection of the damaged area of the roof. All roofing components are manually and visually inspected to assess the severity of the damage and to determine the cause.
(2) Claim Submittal
Once damage to your roof has been confirmed a claim should be filed. We can assist you with this process.
(3) Damage Verification
Your insurance company will send out a representative adjuster. The adjuster will determine whether or not he believes the roof should be replaced and what he thinks the replacement should cost.
(4) Claim Approval or Denial
If your claim is accepted you’ll receive a claim offer form from your insurance provider. We’ll work with you to make sure that the adjuster has done their due diligence and that the resulting claim is fair. If your claim is denied we can help determine whether additional remedy should be pursued.
(5) Insurance Claim Offer Review
We’ll give you accurate and honest answers with documentation as to what roof type and what components within the assembly should be covered.
(6) Asking the Right Questions
You don’t have to accept the initial offer. Most commercial roofing claim offers come back incomplete. For instance, your insurance adjuster won’t typically take a core sample themselves. Additional questions need to inform your decision making at this stage and they’re usually overlooked by the adjuster:
- What is the recoverable depreciation?
- What is my roof assembly comprised of?
- Do I have tapered insulation?
- Do I have a cover board?
- What type of roof deck do I have?
- What type of roof do I actually have?
- Does my new roof need to meet code requirements?
What is a deductible?
Like with any other form of insurance, the deductible is the amount you agree to pay alongside the insurer towards the cost of repair in the event you have to file a claim.
What is a AVC policy (actual cash value)?
After the cost of repair has been assessed, an actual cash value policy subtracts depreciation from the repair cost and contributes the remainder. For example, if the repair cost were determined to be $10,000, depreciation $5,000, and your deductible was $1,000, the net payout towards the repair would be $4,000.
What is depreciation?
Depreciation is the scheduled reduction in value of your roof as it ages. If your roof’s original installation cost was $20,000 and it was assumed to have a 20 year life, and the rate of depreciation was $1,000 per year, and five years after it was installed you had to file a claim, the depreciation would be $5,000.
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