Your Frequently Asked Roofing Questions Answered
What does hail damage look like?
Hail can cause severe damage that may not stand out immediately and may not start to leak for some time. It’s best to have your roof inspected by a state licensed roofing contractor, such as Southern Exteriors, to determine if you need to file an insurance claim and have an insurance adjuster assess the damage.
The insurance company withheld depreciation. How do I recover that money?
Most homeowner 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 the Replacement Value (RV). This is the amount you will be paid after the work is done. Most times, paid upon the submission of a signed contract with a licensed contractor for the work specified in the insurance adjuster’s summary report. Depreciation checks go to the contractor (Southern Exteriors).
Why do the insurance companies withhold depreciation?
The first reason is to make sure that we do the work. The insurance companies want to make sure the homeowners do not spend the money before the job is done. The second reason is that they want to make sure that you pay your full deductible. The insurance companies figure if you are given all the money up front, you will shop around for someone to do the job cheaply. By holding back a percentage of the claim, 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.
How can I avoid paying the deductible?
Legally, you can’t. Doing so would be insurance fraud.
Why does it look like my insurance company deducted my deductible from my check?
Insurance paperwork can be confusing. However, the deductible amount is not included since this is the amount paid directly to Southern Exteriors.
Do I get an estimate from Southern Exteriors?
No. Your insurance company drafts the official estimate. This allows us to go directly to the insurance company if additional dollars are needed. When insurance is paying for the work, the amount of the estimate is not very important as long as it is equal to or less than the insurance companies estimate. In these cases, you will only be paying your deductible, so your cost with us will be what the insurance company pays, plus your deductible.
What if Southern Exteriors estimate is greater than the insurance companies estimate?
Usually this is due to an oversight by the insurance adjuster. We then work with the insurance company to work this out. Usually we will submit what is called a supplement with documentation in the form of pictures, measurements, and paperwork. The insurance company will review the supplement, and upon approval, send a check for the additional dollars needed to make the repairs in the homeowner and Southern Exterior’s name.