We Can Help With Insurance Paperwork & Process
Graduate Contracting has helped hundreds of homeowners handle their insurance claim due to storm damage. Hail & Wind damage are both considered an insurance loss on your homeowner’s policy. Most insurance companies will pay the entire replacement cost, minus your deductible, for the labor and material required to completely replace your roof.
Graduate Contracting specializes in accident and weather-related roof damage repair and replacement; including exterior roofing, gutters, siding, and windows. If the damage carries on into the interior of your home, we can also repair framing and drywall.
We will help you coordinate with your insurance company and even meet with your insurance adjuster if requested. Our involvement prevents you from getting into a situation where the settlement won’t cover all your costs, or even worse, getting denied.
With Graduate Contracting you will pay no out-of-pocket expense other than your insurance deductible. We agree to accept what your insurance company will pay for the claim, including your deductible, and ensure the highest quality repair or replacement. You may also benefit from upgrades that we typically offer as signing incentives, such as upgrading the customer from 3-tab shingles to architectural shingles at no additional charge.
How We Work with You Through the Process:
First, we ask that you provide us with a copy of your insurance adjusters summary report so we can review the scope of work and check all measurements to ensure all damage is fairly evaluated and reported accurately
Second, we match our contract to the work specified in the insurance adjusters summary report, including any supplements that may need to be added if the insurance adjuster missed something.
Third, we submit the signed contract to the insurance company.
Fourth, if there is a mortgage on the home, the mortgage company’s name will most likely be on the check along with yours. Most likely there will be several forms to be filled out and notarized.
Insurance Claim FAQ’s
Q. How do I know if I hail damage? My roof isn’t leaking.
A. In a hailstorm, most hail that hits your roof and house may be too small to cause any damage. However, a percentage of the hail may be large or irregularly shaped, which can cause severe damage that may not be readily apparent and may not start to leak for some time.
It’s best to have your roof inspected by a licensed roofing contractor to determine if you need to file an insurance claim and have an insurance adjuster assess the total amount of damage incurred.
Q. The insurance company withheld depreciation on my roof. Will I get that money?
A. Yes. Most homeowners policies cover full replacement value. The first check the insurance company gives you is the Actual Value (AV); what the roof is worth today with its useful remaining life.
The money that was withheld is called the depreciation, or technically, the Replacement Value (RV) and will be paid to you when the work is completed or most times upon the submission of a signed contract with a licensed contractor for the work specified in the insurance adjusters summary report.
Q. Why did the insurance company withhold depreciation?
A. There are two reasons that insurance companies hold some money back. The first reason is to make sure that you get the work done. Past experience has shown them that, if they give the customer all the money up front, many people end up spending it on something else.
The second reason is that they wish to make sure that you pay your full deductible. The insurance companies reason that, if you are given all the money, to begin with, many people would naturally try to find a contractor who would perform the job for the dollar amount in hand.
By holding a retainage amount, they can adjust the amount of the final payout based on the roofing contractor’s invoice, thus assuring that the customer does pay the deductible.
How can I avoid paying the deductible?
A. Legally, you can’t. Of course, a roofer in collusion with a homeowner can submit falsified invoices. However, doing so is insurance fraud. Please don’t ask us to do this.
On my paperwork, it looks like my insurance company has already deducted my deductible from the check they sent me?
A. When most people look at their insurance paperwork they are confused, because they think the insurance company deducted their deductible from the money the insurance company has sent them. However, the deductible is the amount that the homeowner is responsible for paying directly to the contractor.
The insurance company subtracts the homeowner's deductible amount on the paperwork from the total amount the insurance company allows for the claim since the homeowner will pay their deductible directly to the contractor. The balance after subtracting what the homeowner will pay directly to the contractor as a deductible is the total amount the insurance company will actually pay for the claim.
The insurance is only paying for part of my roof, and my neighbor’s insurance company paid for their entire roof; why is my insurance company only paying for part of my roof?
A. No two houses receive the same amount of damage in a storm. Your neighbor may have sustained extensive damage, and you may have received none.
The insurance company will only pay for the actual damages incurred. If the entire roof was not damaged, unfortunately, the insurance company cannot pay for the whole roof. However, if is it borderline, it always helps to have your roofing contractor inspect the roof with your insurance adjuster to accurately assess all damage to the roof.
Sometimes insurance adjusters may not be able to see all the damage if they’re not able to walk on a steep roof and photograph certain areas. Excellent Roofing ensures a helpful presence to look out for your best interest and assist the insurance adjuster if needed with damage assessment, photographs, and measurements.
Should I get several estimates?
A. It is always prudent to get more than one estimate. However, when insurance is paying for the work, the dollar amount of the estimate is not very important as long as it is equal to or less than the insurance company estimate. In all such cases, with Graduate Contracting, you will only be paying your deductible, so your cost with us will be what the insurance company pays, plus your deductible.
Therefore, your decision should be based on going with the contractor that you feel most comfortable with and whom you feel will perform the best job.
What if your estimate is greater than the insurance company’s estimate?
A. Usually, this is because of something the insurance adjuster missed in the scope of work to be completed. We can almost always work something out with the insurance company. We will submit what is called a “supplement” with documentation in the form of pictures, measurements, and paperwork. The insurance company will review the supplement and upon approval, send a check for the additional monies needed to make the repairs.