Writer / Tami Hartley
Chances are if you are a homeowner and you live in Louisville, you or someone you know has experienced property loss in the last five years either from storm or water damage. Water damage is never something that should be taken lightly. If your home or business has suffered water damage, it’s important to contact a professional water damage contractor as soon as possible. The sooner you get help, the less damage there will be and the easier it will be to restore your property. It helps to know a good water damage restoration port macquarie company.
I’m the owner of Our House Restoration. This company was born in Louisville as a result of a passion I have to help people and fix homes. As a General Contractor, we wear many hats: residential/commercial roofing, siding, renovations and remodeling. One of the most important things we do is we advocate for our homeowners.
I am a homeowner just like you. I’ve had property loss, I’ve had to trust a restoration company to deal with my insurance claim and rebuild my home, and yes, I’ve fallen prey to scammers. In short, that’s where the root of my passion stems. To help you through this, or at least educate you, on what to do should you experience property loss.
When I’m working on claims, I meet people when they are at their most vulnerable… after a storm event that created damage to their most valuable and important asset, their home. Whether it was from hail, wind, water or fire, the journey of the unknown and unfamiliar is catapulted into your lap and now you have to deal with INSURANCE CLAIMS. Navigating an insurance claim is often time-consuming and complicated leaving you with many questions. ‘What is my coverage? What is my deductible? Is everything covered? Who can I trust? Who do I hire to do the work? How do I avoid scams?
Let’s start with simplifying the insurance vocabulary into layman’s terms.
Policy types:
RCV
Replacement Cash Value – the amount the insurance will pay to buy a new roof, for example, in today’s market. In other words, complete coverage.
ACV
Actual Cash Value is a depreciated value based on the age of your “roof” and its depreciated value. In other words, incomplete coverage.
Other terms to know:
Restoration Company
A company that can assess damage and work with your insurance company to negotiate your loss and has the capability of restoring all the damages as the insurance scope describes.
Claim
Filed by the homeowner directly with the insurance company to let them know they have damage to their property.
Adjuster
A Public Insurance Claim adjuster is hired by the insurance company to assess your loss and write the insurance scope. Look for an adjuster that can help you get your claims, check out here these resources from this public insurance adjuster`s website.
Insurance Scope
The covered items that are damaged and need to be repaired and the price they will pay for it.
Deductible
Your financial obligation of the property loss that is required by law to pay directly to your Contractor.
Depreciation
Money the insurance company withholds until after the repairs are complete that your contractor will request with a final invoice.
Supplement
Items that are missed or unseen on the original scope. Filed by your restoration company to be reviewed by your adjuster or insurance company.
Storm Chaser
Usually an out of town sales company coming in to get your business.
What do you do if you think your home has storm damage whether you can see it or not?
• Have your home inspected by a reputable restoration company that can send a qualified field inspector to assess the damage and see if there is evidence of a valid claim.
• Hire a reputable company, e.g., fire deodorization services, that you feel comfortable with and will best suit your needs. File a claim.
• Work with your contractor and insurance company to make sure they have everything they need to do their job as quickly as possible. Access to your home, scheduling, communication are all important.
The bottom line is, educate yourself. Hire a company you can trust with roof leak repair from the storm weather and that will be able to advocate and act as a liaison with you and your insurance company. Make sure it is one that will put your most valuable asset, your home, back to pre-storm condition with the quality, care, and timeliness that you expect and will back it up with a warranty that you can trust. After all, a warranty is only as good as long as the company is still in business.
