Insurance Claims Process
1. ) Call a Reputable Contractor
Be sure to choose a local Mississippi licensed and insured roofing contractor before reaching out to your insurance provider.
2.) Have Your Roofing Contractor Determine if the Property Has Damage
If that damage exceeds your deductible it would be in your best interest to file a claim with your insurance provider. Most roofing contractors, like ourselves, provide non-obligatory inspections free of charge. (This is important as you don't want to file a claim if you truly don't have any damage)
3.) File a Claim With Your Insurance Provider
If the damage exceeds your deductible you should make a claim with your local insurance agent. When you do so, you'll be given a date and time for an adjuster to come out and inspect your roof with you AND your chosen roofing contractor.
This is often the part of the process that is overlooked. Remember, your roofing contractor represents YOU and the well-being of your property while the adjuster is representing your insurance provider. Having a qualified roofing contractor at these adjuster meetings like River Oaks Roofing greatly reduces any chance of the adjuster mislabeling damage or flat out overlooking it leaving you with either a denial or only approval for a minor repair when you truly need a complete roof replacement.
Keeping your roofing contractor in the know about when your adjuster meeting is will help mitigate a lot of the setbacks that come along with only being approved for a small repair or a full-fledged denial of any damage.
*At the end of the adjuster meeting, River Oaks Roofing will present you with a letter of intent that will give your consent for us to work with your insurance on your behalf on recovering any depreciation applicable, submitting supplements for any damages that are found after the roof replacement starts, and also acts as an agreement to use River Oaks Roofing as your contractor throughout your roof replacement process.
4.) Receiving Your Insurance Estimate & First Check
Once your adjuster writes your approved estimate you'll be issued your first insurance check for the ACV amount (Actual Cash Value). The ACV amount withholds your deductible amount, and your recoverable depreciation. At River Oaks Roofing, we accept that first ACV check as your deposit.
5.) Sending Your Check To Your Mortgage Company
More times than not if you have a mortgage, you'll need to send your check to them to have it endorsed. To expedite your roof replacement scheduling it's imperative to send this check off as soon as possible to ensure your mortgage company doesn't hold up the process.
6.) Authorize Your Contractor to Repair
After you, your insurance company, and your contractor determine the damages and agree on all repairs to be done, your roofing contractor will present you with a proposal outlining all repair work to be done.
7.) Schedule Your Roof Replacement Date
Once you receive your endorsed check back from your mortgage company contact your roofing contractor about scheduling your roof replacement date.
*River Oaks Roofing requires the ACV check or 50% of all retail bids to be collected in order to schedule a date and time for your roof replacement.
8.) Roof Replacement
After all repairs are completed we will submit any supplemental items to your insurance company that was found after the existing roof was removed. Once insurance approves your roofing contractor's final supplement amounts you will be sent your second and last check from your insurance provider including your recoverable depreciation. River Oaks Roofing will send you a final bill to be paid once you receive your final insurance check for your roof.
** When working with River Oaks Roofing rest assured that you will only ever be liable for your deductible and any upgrades that you desire. Nothing more!
After a Claim is Approved
The team at River Oaks Roofing will build a sampling of your property to help the property owners make a decision on which color of shingles to choose from.
(Your sampling will look like the one below of one of our recent projects in central MS.)
Insurance Terminologies Defined:
ACV (Actual Cash Value):
In the property and casualty insurance industry, ACV is a method of valuing insured property or the value computed by that method. ACV is not equal to replacement cost value (RCV). ACV is computed by subtracting depreciation from replacement cost.
For Example: you have a fire loss at your home that was built in 1980. The fire causes $100,000 RCV in damages. The insurance company deducts $30,000 in depreciation from the RCV of $100,000 and issues an ACV payment of $70,000.
RCV (Replacement Cost Value):
You would only be able to recover the depreciation of $30,000 if you incurred that expense over the ACV payment of $70,000. The insurance company would require additional documentation (i.e. receipts, contractor’s invoices, and/or a completion inspection) before the recoverable depreciation could be paid.
The deduction based on the age and useful life of that item(s).
“Who Do I Contact to Start a Claim?”
Your first option should be to contact your agent, but if you’d like you can contact your provider by the corresponding numbers below to start a claim after your contractor has found enough damage to warrant a claim.
State Farm: 1-844-458-4300
American Family: 1-800-692-6326
Farmers Mutual: 1-402-434-8300
Liberty Mutual: 1-888-398-8924
Auto Owners Insurance: 1-517-323-1200
EMC Insurance: 1-800-447-2295
Progressive Home Insurance: 1-800-776-4737
Farm Bureau: 1-866-399-3237
Auto Owners Insurance
Progressive Home Insurance