Insurance Claims

INSURANCE CLAIMS

Divided Sky has 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.

Here is quick overview of how insurance pays out for a claim.

Example:

Replacement cost (RCV) amount is cost to replace the damaged materials. A good way to look at this cost it like the “new” price. Deprecation 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(ACV) amount is the deprecated 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 Deprecation.

The way insurance will pay out is 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 deprecate 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 deprecation.

Example:

RCV   $10,000
Deprecation $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

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 deprecation. Unless you decide to upgrade your 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 deprecation.

“Waiving Deductibles”, “Discounting Deductibles”, “Sign Allowances” – it is ILLEGAL in the State of Texas for a roofing company to pay your deductible, even just partially.

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