Do you have damage?
Some homeowners are unaware that they have damage to their roofs. Whether your home has been through a recent storm, or you are just curious what shape your roof is in set an appointment for a professional to come out and assess the damage! If we find damage, we will take the steps to file a proper claim.
The insurance claim process
Step 1 – Contact Platinum Exteriors for your complimentary inspection and honest assessment.
It’s FREE! You can have peace of mind knowing that your roof survived the storm or that you could work with a superior roofing company. We understand all aspects of the roofing and insurance claims processes; we are a company with integrity that is here to serve your best interest.
Step 2 – Filing the Claim
Contact the property claims department by phone or online. Describe the weather-related event and answer all of the questions.
The claim handler will assign a claim number and a claims adjuster.
Write this number down as it will be very important throughout the entire process. It may take several days to obtain the name and contact information of your adjuster. Be sure to ask for his or her cell phone or direct contact number when he or she calls to schedule the inspection meeting. Contact your Platinum Exteriors representative and provide the adjuster’s name, contact info and appointment time. Your insurance company may ask you to meet with multiple contractors and gather three estimates. You could invest your time assisting the insurance company in getting the lowest price. The result is the insurance company keeps the savings. You get a cheaper roof! Integrity will discuss with the insurance carrier a fair insurance re-roof settlement. You will get the highest quality roof system with Platinum Exteriors How to Read an Insurance Roof Claim
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Step 3 – Adjuster Meeting to Assess Damages
Inform your adjuster that you will have your roofing contractor present at the meeting. It is highly advisable for your Platinum Exteriors representative to attend the inspection meeting and serve as your advocate. As much as they appreciate your business, the insurance carriers must seek to keep their expenditures down. Inspecting the roof together will help establish the presence and accurate assessment of the extent of the damages. Most adjusters will request the name of the roofer with whom they will be meeting because they realize your position and want to be fair to you.
Measurements and photos of the roof and other damages will be taken at that time. Whenever possible, your PLATINUM EXTERIORS representative will provide a to your adjuster. We do our job well so you can still make it to yours with confidence that you will be expertly represented during the initial inspection.
Step 4 – Ensuring a Fair Settlement
Once the insurance adjuster assesses the extent of damages, he or she will generate a claim summary detailing the scope of repairs or replacement. Depending on the schedule, seniority and authority of the field adjuster, this claim summary may be provided to you at the initial meeting or will go through a submission and approval process. It should not take more than two weeks to obtain the claim summary.
They are often uploaded digitally into an online account you set up or mailed to your address on file. It is
a good idea to confirm your mailing address with the adjuster to avoid delays in receiving this important
Most insurance carriers use Xactimate pricing software to determine the fair market price of your roof
replacement. To simplify matters, Platinum Exteriors also uses Xactimate to generate our estimate
for your project, so the pricing per unit should be the same as your insurance carrier. When you receive
the adjuster’s claim summary, we will compare it to our own to make sure nothing has been omitted
from the scope of the project. If there is a difference in our estimate and that of the insurance
company’s estimate, it will be solely on the scope of the project, not per unit pricing.
If there is any discrepancy between our assessment of the scope of the repairs needed to restore your
home to pre-storm condition and their assessment of the same, our insurance liaison will discuss the
difference with the insurance company on your behalf. (You will not need a crash course in roofing
components and measurements to try to explain why omitted key items are necessary in the
replacement of your roof.) In most cases this will be a simple process of faxing or emailing them our
estimate and calling them to discuss the differences. We are very familiar with what each insurance
company is currently approving and do not submit frivolous supplements that delay your new roof
installation. That would be a disservice to all parties.
Certain insurance companies are less willing to fund key components of your new roof. A quick phone
call from you may be helpful. If that happens, we will discuss our options and develop the best plan of
action for your claim situation. Once the negotiation process has been completed, the insurance
company will release a supplemental check to cover the additional amount that was determined
through negotiations with the insurance representative.
Occasionally a fair settlement is not able to be reached through negotiations. In this case, insurance
appraisal is an option.
Step 5 – Funding
You should receive the initial check about the same time the claim summary arrives. It will have your
name and your mortgage company’s name on it, in which case you would need to contact them to find
out the proper procedure for getting their endorsement. Each company has specific directions to follow.
There are usually multiple documents required by the mortgage company to provide their endorsement.
Some will be from you and others from us, as your contractor. This process can take up to 10 days if all
The initial check may seem small compared to the full amount of the roof. There are two reasons for
this- your deductible and the depreciation. Most homeowners choose the Replacement Cost coverage
type of policy over the Actual Cost Value policy. If you have a replacement cost policy, at the proper
time we will facilitate the recovery of the depreciation initially withheld by the insurance company.
Recovery of depreciation is done after the work has been completed. The deductible is the portion
withheld by the insurance company that will not be paid out to you at any time.
The deductible is your co-pay, which you will pay to Platinum Exteriors The full cost of the roof
replacement is the sum of the first insurance check, your deductible, the amount of depreciation and
any approved supplements.
Step 6 – Installation of Roof
Once the first insurance check, deductible and most up to date insurance claim summary are made available, the roof will be installed using Platinum Exteriors roofing system and the shingle of your choice.
Step 7 – Recovering the Depreciation
After the roof has been installed, our office will provide the necessary documentation to the insurance company to let them know the work is complete. If our company is overseeing the non-roofing repairs as well, this invoice is not sent to the insurance company until all repairs are complete. If the depreciation withheld is recoverable, we will ask for the release of those funds. The insurance company will most likely call you to confirm that the project is complete and will then release the last check to you. It is possible that if a supplement was negotiated that it may be included in the final check along with the depreciation. Our office will make the appropriate number of follow up calls to confirm receipt of this documentation and ensure timely processing of the depreciation. Depending on the volume of claims, an insurance company can take from one day to three weeks to process recoverable depreciation.
Mortgage companies may require their own inspection before they endorse and release the depreciation back to you. Platinum Exteriors does not handle this detail, so be sure to ask them about scheduling inspections and additional paperwork required when you contact them initially for their endorsement procedures.
Buyer Beware- If you have been approached by a contractor with a lower bid than the amount allowed on your insurance loss statement, your insurance company will not allow you to keep those savings. They will lower their price to match the contractor’s. Either you or that contractor would have to provide a false invoice to the insurance carrier to recover the full depreciation. Otherwise, the difference in the lower price and the original will be deducted from the final depreciation check. Insurance companies are not in the habit of overfunding roof replacements.
Don’t Lose Your Roof Insurance Depreciation Money.
Step 8 – Making the Final Payment
Once you receive your last insurance check, secured the mortgage company endorsements needed, we will collect the final amount due on the roof. As a courtesy to our clients, we provide a 30-day grace period from roof installation to make the final payment on the depreciated amount. This is usually enough time to complete this process. Special allowances can be made on an as-needed basis if this process is delayed due to the actions of the insurance company or mortgage company.