The insurance company is in many cases obligated by law to include the mortgage company on the insurance check as the lien holder has a vested interest in your property. It can be a long drawn out hassle to have the mortgage company release the funds back to you in order to pay your contractor. Many times the mortgage company will even have someone come out to inspect your property to verify that the repairs have been completed before they release all the insurance funds to you.
True Nature Roofing is accustomed to the process of working with the mortgage company as well as the insurance company to handle all of the paperwork and ongoing hassle that can come along with getting your home repaired. Again this is a case where a professional contractor can save you a lot of time and hassle by working with the mortgage company every step of the way. From the paperwork to meeting the mortgage company inspector, we do it all!
There are several reasons as to why insurance companies withhold depreciation. The first reason being that past experience shows that when large amounts of money are given to policyholders many people will take the money and use it for other things and will not get their property repaired as they should. This leads into additional problems as damage becomes worse. If a damaged roof does not get repaired it can eventually lead into extensive damage to the overall structure of the home as well as the interior.
Another reason is to help prevent poor or substandard work from being performed to your property. Many people if given the full amount of the settlement upfront will seek out the lowest bid they can find so that they can keep a portion of the money for themselves. In these cases it increases the risk exposure of the insurance company as your home is more susceptible to damage when poor quality repairs are made.
Yes, unless your policy is an Actual Cash Value policy, the money that was withheld is recoverable when your contractor has completed the job and submits an invoice for the depreciation held back. It is quite rare that we come across Actual Cash Value policies as the majority of homeowner’s policies are Replacement Cost Value policies which means the policy does pay out the full amount minus your deductible.
No, neither the manufacture or the installer will warrantee against hail damage or damage caused by excessive wind. Even hail resistant shingles do not have a manufactures warranty against hail. While hail resistant/impact resistant shingles have been subject to a bit of hype in recent years, they are NOT able to withstand all hail. In most cases they hold up much better than conventional shingles, however we do see many cases where large hail will still cause damage to impact resistant shingles.
The claims process can be lengthy. The average process can take from 2 to 3 months but in some cases can be either quicker than that or much longer than that. Some of the factors are how long it takes the adjuster to come out, how long it takes them to prepare the settlement paperwork, and at times we may need to submit supplements for damages that were missed by the adjuster, or damages that were not visible until after repairs started and materials were removed. (In the case of hidden damage we still complete started jobs but negotiate settlement afterwards). The good news is when you have the professionals at True Nature Roofing handling your claim you will be able to go about your daily routine without having to worry about the claims process. We will update you as we go, however little to no work is ever required on your part.
On the basis of “Act Of God” disaster related claims, your rates will not be singled out and raised, however if there were a number of claims filed in your area, the rates will increase across the whole area. So whether you filed a claim or not, your rates will go up along with everyone else’s rates in your area.
If your claim is due to natural disaster related damage such as wind, hail, ice, or snow, it is considered “An Act Of God” and insurance companies cannot cancel your policy on those grounds.
Getting multiple bids is not necessary and may be detrimental to you. Here is why:
When insurance is paying for replacement of your roof they typically withhold depreciation. As in they will give you a portion of the money upfront and another portion when the job has been invoiced by your contractor. In such cases your only cost would be your deductible, so your cost remains the same no matter what.
Ok so let’s say you get multiple bids and you go with the lowest bid? Your insurance company will not pay more than what that lowest bid as they will not release the final portion of payment for your roof until the contractor submits his invoice for the job. An example of this is when the insurance company approves $10,000.00 for your roof and you get a bid of $9,000.00 to complete the roof. The insurance company will only pay you the $9,000.00 minus your deductible.
And to answer a question some may have? So what if a homeowner were to have the roof done for $9,000.00 but the contractor would provide a falsified invoice for $10,000.00 so that you could recoup all the money that the insurance company approved? This is considered Insurance Fraud and is a Felony. We will not be involved in any such requests.
So to clarify, you are best served finding a quality contractor that will provide you with the best roof you can get for the money approved by the insurance company. Many times a low bid will also get you a lower quality roof. The old adage you get what you pay for is still true.
This is a question with multiple answers. Hail damage varies considerably based on the size of the hail and the speed of the wind driving the hail. A hail damaged roof may have very subtle almost invisible bruising immediately following a hail storm. Whereas the same roof can have significant granule loss and exposed bruising a year later due to the rain and snow eroding the subtle bruising into larger more visible spots. Hail damage that has gone un-noticed for several years can deteriorate through the shingle causing cracks and large pits in your shingles. Bottom line is, hail damage needs to be inspected very closely and cannot be properly analyzed without getting onto the roof. A good indicator of roof hail damage is when your gutters or driveway have a significant amount of roof granules in or on them.
Having worked with countless insurance adjusters as well as having an experienced perspective from your adjuster’s point of view, we know that contractors with inexperience regarding the insurance process can cause a lot of heartache for both you and your adjuster. A contractor may have years of experience related to his or her area of expertise but handling the insurance process is a skill of its own. An insurance negotiation will not be successful by trying to strong-arm the adjuster. You need a contractor that can effectively present the hail damage vs non-hail damage to your adjuster. Many times inexperienced contractors and homeowners alike will present wear and tear as hail damage.
When your contractor is adamantly pointing out peeling paint, roof installation scars, mechanically damaged metals and siding as hail or storm damage, they are creating a situation where your adjuster is obligated to document items in your claim that can potentially raise your rates due to what your insurance company sees as lack of maintenance to your home. This can also create a situation where your claim is denied based on the view point that your damage is wear and tear related or what is called pre-existing damage.