Korrect General Contracting

No two houses receive the same amount of damage in a storm. Your neighbor may have sustained extensive damage and you may have received none. The insurance company will only pay for the actual damages incurred. If the entire roof was not damaged, unfortunately the insurance company cannot pay for the whole roof. However, if it is border line, it always helps to have your roofing contractor inspect the roof with your insurance adjuster to accurately assess all damage to the roof. Sometimes insurance adjusters may not be able to see all the damage if they’re not able to walk on a step roof and photograph certain areas. Korrect ensures a helpful presence to look out for your best interest and assist the insurance adjuster if needed with damage assessment, photographs, and measurements.

When most people look at their insurance paperwork they are confused, because they think the insurance company deducted their deductible from the money the insurance company has sent them. However, the deductible is the amount that the homeowner is responsible for paying directly to the contractor. The insurance company subtracts the homeowners deductible amount on the paperwork from the total amount the insurance company allows for the claim, since the homeowner will pay their deductible directly to the contractor. The balance after subtracting what the homeowner will pay directly to the contractor as a deductible, is the total amount the insurance company will actually pay for the claim.

There are two reasons why the insurance company will hold back the depreciation. The first reason is to make sure that you get the work done. Past experience has shown them that, if they give the customer all the money up front, many people end up spending it on something else. The second reason is that they wish to make sure that you pay your full deductible. The insurance companies reason that, if you are given all the money to begin with, many people would naturally try to find a contractor who would perform the job for the dollar amount in hand. By holding a retainer amount, they can adjust the amount of the final payout based on the roofing contractor’s invoice, thus assuring that the customer does pay the deductible.

Yes. Most all home owners policies cover full replacement value. The first check the insurance company gives you is the Actual Value (AV); what the roof is worth today with it’s useful remaining life. The money that was withheld is called the depreciation, or technically, the Replacement Value (RV) and will be paid to you when the work is completed or in most cases, upon the submission of a signed contract.

In a hailstorm, most hail that hits your roof and house may be too small to cause any damage. However, a percentage of the hail may be large or irregularly shaped, which can cause severe damage that may not be readily apparent and may not cause a leak for some time. It’s best to have a professional inspect your roof to determine if you need to file an insurance claim.