FAQ About Roof Replacement Claims

Below are some common questions we encounter when it comes to roof replacement claims

Q: Why did I receive a check that was less than the cost of my repair?

A: An adjuster will make two main deductions with their estimate of your roof replacement cost: your deductible and depreciation

Q: What is depreciation, RCV and ACV

A: Depreciation is a decline on value of the real estate, resulting from age, psychical wear, and the economy. ACV ( Actual Cash Value ) is the cost of replacing damaged/destroyed property with the new property. RCV ( Replacement Cost Value ) is the dollar amount needed to replace damaged personal property without depreciation. The depreciation funds you receive from the claim is the difference between the RCV and ACV.

ACV + Depreciation = RCV

Q: How firm is the adjuster's calculation of my replacement cost?

A: There are many variables in the adjustment process, calculations aren't set in stone. In fact, it is fairly common for your contractor and adjuster to reconcile issues. Throughout the process, Soderburg Roofing will supplement all missing and needed items. Therefore, leaving the deductible and any upgraded items to be the only out of pocket cost to the homeowner.

Q: My insurance company tells me to "get 3 estimates" for the roofing work. Do I have to do this?

A: No, as the homeowner you can choose the contractor you trust. When you choose a cheaper contractor, you are only saving money for your insurance company. Don't endanger the value of your home by using the low bidder to complete insurance restoration. Your contractor should work on your behalf and care about your home project not just the bottom dollar.

Q: Is it ethical when roofing contractors say they will cover my deductible?

A: Absolutely not! When a contractor covers the deductible, they are committing insurance fraud per article 22 section 105.