Rilrock Roofing & Construction, Inc. BBB Business Review
Insurance Adjusters
 
The duty of an insurance adjuster is to give you an accurate accounting of everything that was damaged by the storm and a written estimate of what it will cost to put your property back to the condition it was in prior to the storm. This estimate is commonly referred to as the Full Scope of Insurance or simply, “The Scope”. Remember, this is only an estimate and actual costs may vary. This is easily resolved between the adjuster and the contractor. In any case you are going to be liable for the amount of your deductible and no more. The adjuster will either leave you a statement of loss or you will receive it in the mail in a few days and some carriers are now making the estimate available online. The statement of loss will itemize your losses and the estimated cost of repair for each.

Most home owner policies are replacement cost value (RCV) policies and will pay that amount even though the actual cost may exceed the adjusters estimate. The loss statement will reflect the replacement cost value (RCV), the depreciation, and the actual cash value(ACV) of your loss. The (ACV) column of the statement will reflect the amount of your first check minus your deductible. With RCV policies, the depreciation column should be called the deferred column as it reflects the money held back by the insurance company until the work is complete and the Final Invoice is submitted by the contractor for payment. The insurance company will then issue another check to you for the exact amount between the final bill, and (ACV) portion of your first check relating to that particular repair.

The first check, the depreciation check and your deductible is what it will cost you to have all repairs completed.

The (ACV) and the depreciation columns of your statement will total up to the (RCV) column of the statement. Insurance companies hold back money to track whether or not repairs are made and to insure that they pay no more than the replacement cost of the damage. Most insurance companies send catastrophe teams into storm situations, and the adjusters come from all over the country to work the claims. Although most are well trained and experienced some are not, and would not know hail damage if it hit them on the head. We have found the vast majority of adjusters to be very fair in their assessment of the damage caused by a storm. However, in any case, the adjusters are representing the insurance companies and it is the company's interest they are hired to protect.

For that reason, they will tell you to get estimates to repair the damage, most will not tell you that you are spending your time shopping for the insurance company, as they have held out money as depreciation and will pay only the (RCV) for the repairs. As time goes by, most home owners will realize that it is reputable companies like RilRock Roofing & Construction, Inc. that are actually looking after their interests in the repair process.

The most important thing you are shopping for is a company with whom you feel comfortable and one you can trust. You are NOT shopping for the lowest price – as stated above, the only one benefitted by the lowest price is the insurance company. When your insurance adjuster provides an estimate, he or she is showing you what the insurance company is willing to pay. If you find a contractor who will do the all the work on the estimate for less than what the insurance company has agreed to pay, this lower price now becomes the FINAL price the insurance company will pay and you will not have money left over that you get to keep.

If your contractor finds that the insurance company has not paid enough for some of the repairs, the contractor will call the insurance company and supplement the claim in order to pay for the additional work.
 
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