Dependable Construction has performed thousands of insurance claims since 2004. We even has licensed claims adjusters on staff. Since the insurance claims process can be time consuming, tedious and frustrating. We want to help speed up the process for you, making it an enjoyable experience. Below we have outlined a step-by-step process you can follow to help navigate the insurance claims process.
Step 1: File Your Claim
Locate your homeowner’s insurance policy and be sure to keep it handy. Now is an excellent time to find out what your deductible amount is for future reference. Many of our clients find filing online faster, which avoids lengthy hold times. Most insurance companies have a specific department, not your agent’s office, to file homeowner’s claims. Once you file your claim, call your mortgage carrier as soon as possible and ask them for a claim packet. This speeds up the process drastically and ensures your project will not experience delays. In the event the insurance carrier denies the claim, you have the claim packet for your files.
Step 2: The Adjustment Process
Your insurance carrier will then assign an adjuster who will can within 72 hours to make an appointment to visit the property to confirm damage severity. Dependable Construction strongly suggests our customers take advantage of our field trained licensed adjusters to meet with your insurance company to help negotiate the proper claim settlement. We know what it takes to complete a roofing, siding, gutters or deck project and will be sure the settlement includes everything you need to restore your property to pre-storm condition. Dependable Construction provides your insurance carrier with a full Aerial Analysis from Eagle-view.com and scope report from Xactimate to ensure your home is estimated with the most advanced technology available. This ensures there are no discrepancies on size or estimating materials, making the process clear and painless. Once a settlement is figured, most insurance carriers mail the claim summary within 7-10 business days. This settlement is the guideline of specifications for the contractor to follow. The carriers use predetermined prices, based on market analysis for a property owner’s area, for which they estimate each item. Once this claim summary arrives, we will meet to discuss its content, review the quantitative estimates and discuss the construction process.
Step 3: Depreciation Recovery
Almost all insurance carriers apply depreciation to each item in the settlement. Think of this as hold back for the difference in value of what your roofing, siding, gutters or deck is worth vs. what it will be worth when it’s newly restored. Dependable Construction performs the project based off the insurance company’s settlement so that when the repairs are complete, we can issue the proper invoice or jobsite completion form to your carrier for you. Once we do so, the insurance carrier then cuts a check you that will arrive in the mail within 7-10 business days. This is only for the depreciation they applied for the items repaired.
Things To Ask: Do You Have A Mortgage?
Most of our customers restoring their properties through an insurance claim find their claim check has their mortgage carrier endorsed as an additional payee. Your insurance companies in Ohio adds your mortgage company on the check is the claim is over 10k per state law because they have a vested interest in the property. In the event the claim repairs are not completed, the mortgage carrier is carrying the loan on a home worth less than appraised.
The mortgage companies can be incredibly tedious to work with and in recent years, due to the failing housing market, your involvement may be required. Dependable Construction will facilitate the process with diligence and tenacity.
In order for Dependable Construction to ensure we provide you with the best products and craftsmanship possible, it is crucial your carrier covers the claim in full. For example, there are many steps in the re-build process. Failure to cover one of these steps results in an inferior roofing, siding, gutters or deck system. We employ a Supplement Claims Specialist to ensure your carrier covers the project step by step, never missing critical components in the process. Most items missed by the insurance carrier are simple oversights. We provide them with pictures, diagrams and estimates for our customers so the claim process continues without interruption.