Skye Tech Exteriors is a leading expert in the insurance restoration process. We specialize in assisting with the insurance claims process.
If you suspect hail or wind damage from a recent storm,you should call your insurance carrier’s claims office –not your insurance agent. The first call should always be to the claims office after a roof inspector evaluates the roof for damage. If you choose Skye Tech Exteriors for your contractor we will handle this for you.
Filing the Claim
The claim handler will assign a claim number and a claims adjuster. Call your Skye Tech Exteriors representative and provide the adjuster’s name,contact info and appointment time. Your insurance company may ask you to get three estimates. You could assist the insurance company in getting the lowest price. The result is the insurance company keeps the savings. You get a cheaper roof! Skye Tech Exteriors will negotiate with the insurance carrier for a fair insurance re-roof settlement. You will get the highest quality roof system with Skye Tech Exteriors.
Adjuster Meeting to Assess Damages
Inform your adjuster that you will have your roofing contractor present at the meeting. It is critical for your IRP rep to attend the inspection meeting and serve as your advocate. Most adjusters will request the name of the roofer with whom they will be meeting because they realize the position you are in.
Measurements of the roof and other damages will be taken at that time. Whenever possible,your IRP rep will provide a satellite imaged,engineered report detailing the roof measurements. 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.
Ensuring a Fair Settlement
Once the insurance adjuster assesses the extent of damages,he or she will provide a claim summary detailing the scope of repairs or replacement. Most insurance carriers use Xactimate pricing software to determine the fair market price of your roof replacement. 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 discrepancy,our insurance liaison will negotiate the difference with the insurance company on your behalf. 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.
Funding
You should receive the initial check about the same time the claim summary arrives. Each company has specific directions to follow. There may be additional paperwork needed by the mortgage company. This process can take up to 10 days. Those funds would be payable towards the new negotiated roof replacement total.
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 we will recover (and receive) the depreciation withheld by the insurance company 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 Skye Tech Exteriors. The full cost of the roof replacement is the sum of the first insurance check,your deductible,the amount of depreciation and any supplements.
Installation of Roof
Once the first insurance check,deductible and insurance loss statement are received the roof will be installed.
Recovering the Depreciation
After the roof has been installed,our office will provide the necessary documentation to the insurance company to let them know it is complete. If the depreciation withheld was 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. Our office will be happy to make the follow up calls to confirm receipt of this documentation on your behalf to ensure timely processing. Mortgage companies may require their own inspection before they endorse and release the depreciation back to you.
Making the Final Payment
Once you receive your last insurance check,and mortgage company endorsements are made,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.
