Insurance Claims
When to File
Where Can I Find Help?
How Insurance Pays Out
Make A Payment
Should You file a Claim?
Divided Sky’s roofing contractors in San Marcos, TX have experience working with many insurance companies to put better roofs on our customers’ homes. Our staff includes previous insurance adjusters who can help you determine if you need to file a claim for your roof repair or replacement.
Get Help Filing Your Claim!
How a Claim is Filed
Replacement Cost
Replacement Cost (RCV)
Replacement cost (RCV) amount is cost to replace the damaged materials. A good way to look at this cost it like the “new” price.
Depreciation
Depreciation
Depreciation is the amount deducted from the RCV amount that represents how much of the materials are used up at based on age and use.
Actual Cash Value
Actual Cash Value (ACV)
Actual cash value (ACV) amount is the depreciated cost of the materials. A good way to look at this is to look at it as the “used” price. This is the RCV amount minus the Depreciation.
Overview of How Insurance Pays Out for a Claim
How Does Insurance Pay Out?
They will come up with the RCV amount using a 3rd party software called Xactimate. We use the same software to ensure we are all on the same page and to avoid any discrepancy in pricing with insurance companies. They update their prices monthly for each zip code to reflect market conditions. They will then depreciate the materials accordingly and send you a check for the ACV amount less your deductible. Once the work is completed and we file all of the paperwork and show that the work has been completed they will then send you an additional check for the depreciation.
| RCV | $10,000 | |
| Depreciation | – | $4,000 |
| ACV | = | $6,000 |
| Deductible | – | $1,000 |
| First Check | = | $5,000 |
| Second Check | = | $4,000 |
| Total Insurance Pays | = | $9,000 |
| Total Homeowner Pays | = | $1,000 |
What is the Final Cost?
We complete all the work insurance has allowed for on their estimate for the RCV amount and collect the deductible amount from you. Once the work is complete, we submit the invoice to you and the insurance showing that all work is completed. They will then release the depreciation. Unless you decide to upgrade out of pocket, the cost is limited to your deductible. Due to insurance laws, we are required to show proof we collected the deductible amount when we submit the request for depreciation.
About Us
Divided Sky Roofing & Solar is a local San Marcos roofing company serving all of Central Texas. Founded by John and Allison Hardy with the goal of bringing extraordinary services to the roofing industry.
