Please click on the link for our Customer Education Packet which helps explain the restoration process. Reading this packet will give you a better understanding of what to expect during the process. We strongly encourage you to review this packet and discuss any questions you may have with our team.
Each insurance policy has different coverages. Your specific policy will determine what coverage you have and thus how much, if any, it may cost you out of pocket. Assuming the loss is covered it should only cost you the deductible stipulated by your policy to restore you home to its pre-loss condition.
If you want to begin funding the job “out of pocket” work can begin soon after mitigation has been completed. Most insureds and our recommendation is to wait for the insurance funds to become available and avoid being “out of pocket”. Please refer to the “Typical Claim Timeline” to see how long it typically takes for insurance funds to be available.
This depends on the severity of the damage and the scope to be performed. For example, a $10,000 claim that involves a bathroom could take 5 weeks to complete, but a $10,000 claim that only involves drywall repair and painting could take 2 weeks to complete. Every job has a different scope of work and a unique timeline for completion once the work begins.
Your loss will likely need finish items such as paint colors, flooring choices, electrical or plumbing fixtures or cabinets. Each selection will have a lead time (this is how long it takes to get the item so it can be installed) that needs to be factored into the work process. It may take weeks to procure some items depending on availability and their location. If these items are not selected in a timely fashion it will delay the project. We like to have these selections made before the project even begins to help make the actual work part of the project proceed as quickly as possible. (please see attached sample “Finish Selections” worksheet on page 11)
This is an amount the insured is responsible for if a claim is filed when damage occurs. Typical deductibles could be $500, $1,000, $2,500 or $5,000. Some policies also have wind or hail deductibles as well. You can find this information on your policies declaration page. Your adjuster will determine what applies to your claim.
The adjuster assigned by the insurance carrier is responsible for reviewing the damage and assessing how much you should be paid to be able to be able to repair the damage. You adjuster will be able to interpret any questions you may have about what your policy covers and why.
This is the company that holds your insurance policy and makes claim payments. Your carrier is not the same as your insurance agent.
This is an amount of money withheld by the carrier to ensure your repairs are made and ensure it cost the insured the full amount to repair the property.
Here is an example:
- Actual estimated amount of the claim $10,000
- Customer Deductible -$1,000
- Recoverable Depreciation Withheld -$2,000
- Actual Cash Value payment made to insured $7,000
In this example for a $10,000 claim, the insured would receive a check for $7,000 to repair the property. Once the work is completed and the total cost of the repair has been incurred, the insured can file with their carrier for the recoverable depreciation. In this example the recoverable depreciation payment would be $2,000 to the insured once the work was complete.