Frequently Asked Questions

Common Insurance Terminology Includes:

• Deductible

  A deductible is a specific amount the insured must pay before the insurance company covers a claim. For instance, if the insurance carrier values your house at $500,000 a 1% deductible would be $5,000.

• RCV (Replacement Cost Value)

  RCV is the maximum amount your insurance company will reimburse for damage to covered property, excluding reimbursable depreciation. This amount is determined based on using qualified and insured contractors, and the current cost of replacing your property with new, identical, or comparable property. In short, RCV is the total amount insurance approves to restore your property to pre-storm conditions.

• Depreciation

  Depreciation reflects the decrease in the value of your roof due to wear, age, or deterioration. Roofs are a lot like cars: once you drive a brand-new car off the lot, its value drops significantly. Just like a car dealership, each adjuster will look at the totality of the roof and determine the value of your roof.

• ACV (Actual Cash Value)

  ACV is the cost to replace with new property of similar kind and quality, minus any depreciation. Most of the time this is the amount of the first check sent to you by your insurance company. However, with the recent storms in Texas, ACV policies are becoming more common.

• ACV Settlement

  The ACV settlement is the replacement cost value minus depreciation and the deductible.

• Recoverable Depreciation

  The recoverable depreciation is the amount of depreciation that can be reclaimed from the insurance company when making a claim on a policy with replacement cost coverage. Typically, such claims are paid by the insurer in two installments. As mentioned earlier, the initial check is the amount of the ACV. The second installment is recoverable depreciation and any additional money authorized to complete the job as approved by the insurance.

Filing A Roof Claim? We Can Help! Here Are The Steps:

1. 1 Call Us For A Free Inspection!

   • Allow the experts at JaM Roofing & Construction to inspect your roof at no charge.

   • We will share our findings and provide an honest recommendation on whether to proceed with a claim.

   • If immediate action is necessary, temporary repairs will be completed with your approval. Don't worry, insurance will reimburse these repairs with the approval of your claim.

2. 2 Review Your Policy

   • Before filing a roof claim, carefully review your policy to understand the process.

   • If the damage is minor compared to your deductible, consider not filing a claim. You wouldn't want to file a claim if your deductible is $5000 and the damages are $5200.

   • Keep in mind that each claim can remain on your record for up to 7 years, even for minor incidents. Insurance claims are sort of like credit checks. Even if the insurance denies the claim, the claim can still be reflected on your record.

   • Make sure you know if you have Replacement Cost Value (RCV) or Actual Cash Value (ACV) coverage.

3. 3 Contacting Your Insurance Company

   • Notify your insurance company of the loss either by phone or online.

   • The adjuster will contact you usually within one to two days to arrange a meeting time. Inform us about the scheduled meeting time. We will collaborate with the adjuster for a fair evaluation of damages and cost estimates. We can work closely with the adjuster to address all damages in the claim despite Texas regulations prohibiting contractors from representing you.

   • An adjuster will assess the damage and offer a repair estimate that defines the scope of work.

4. 4 Reviewing The Scope Of Work

   • First, we will check the line items on your estimate to ensure that the adjuster has accounted for all sustained damages. We will compare insurance company figures with our estimates for roof replacement. If insurance estimates are significantly lower or there are damages not listed in your estimate, we'll contact the adjuster to review any missed details.

   • Most of the time insurance will work with us and issue a supplemented estimate. The newly approved items are usually paid at the end of the job.

   • We will explain the scope of work to you before beginning any repairs.

   • During this process we will discuss the materials, warranties, timeline, and support provided on-site.

5. 5 Clarifying Payment Procedures

   • Familiarize yourself with the insurance claims payment process, particularly if a mortgage company is involved. Some insurance companies will issue the check to your mortgage company, which can delay the process.

   • JaM Roofing & Construction will not request any payments until work begins. Typically, we collect the initial insurance payment upon completing the roof replacement, then recoverable depreciation and any remaining balance after all work is completed.

6. 6 Handling Unexpected Damage Or Costs

   • If unforeseen damage emerges during repairs, we will notify your insurance company with a supplemental estimate.

   • Additional expenses may be covered with a separate payment from the insurance company.

7. 7 Scheduling & Completing The Project

   • JaM Roofing & Construction usually starts from the top down for storm claims. We will promptly remove your old, damaged roof and replace it with a new one, following the manufacturer's specifications.

   • After fixing or replacing your roof, we will schedule gutters, siding, windows, painting/staining, fence repairs, and other necessary tasks if applicable.

   • We can help coordinate inspections with your insurance and mortgage companies once the project is finished.

   • Additionally, we will assist with all documentation, warranties, and service agreements.

   • After receiving your recoverable depreciation compensation and any other payments, we will arrange a meeting to ensure your satisfaction with our work and collect the final payment.

Recoverable vs. Non-Recoverable Depreciation: What You Need To Know:

Roof depreciation is the gradual decrease in the value of a roof over time, usually measured from the installation or purchase date. Insurance companies use this metric to evaluate payouts for roof damage claims, referred to as depreciation. During inspections for claims, adjusters estimate the roof's age through informed assessments. There are two types of depreciation in a roof claim, known as recoverable depreciation and non-recoverable depreciation.

In response to an increase in severe weather occurrences in Texas in recent years, certain insurance companies have transitioned to providing Actual Cash Value (ACV) rather than Replacement Cost Value (RCV) in their new insurance policies.

In essence, Actual Cash Value means that your insurer will only compensate you for the current worth of your roof at the time of the claim. This type of roof policy considers factors like the age and condition of your roof to determine the reimbursement amount, accounting for any depreciation since its installation.

On the contrary, Replacement Cost Value (RCV) does not factor in depreciation and covers the entire cost of replacing your roof post a covered incident. While RCV is more expensive than ACV, it ensures that you only pay your deductible in case of damage.

If you have an older roof and your policy is based on Actual Cash Value, it is probable that you may not receive sufficient compensation to replace your roof.

Apart from considering Actual Cash Value and Replacement Cost Value, your policy may involve either recoverable or non-recoverable depreciation. Homeowners often inquire about the process of recovering depreciation from their insurance claim, so it's crucial to understand if your policy includes recoverable or non-recoverable depreciation. In most cases, depreciation in Texas insurance policies is recoverable, but there are exceptions such as having an Actual Cash Value Policy or missing repair/replacement deadlines. For RCV policies, the Actual Cash Value is usually paid upfront by your insurance company. Once the work is completed, insurance will release the remaining balance which is the recoverable depreciation (plus any items that may have been approved during the supplemental process).

To check if your policy covers recoverable depreciation, review your insurance adjustment or declaration page. If your policy includes recoverable depreciation, you must spend the RCV amount indicated in your insurance adjustment to receive the full recoverable depreciation. After submitting the invoice to the insurance company to confirm the work completion, they will release the recoverable depreciation to you.

The total payments and remaining balance should match the RCV to receive the complete recoverable depreciation. The insurance company will only pay the invoiced recoverable depreciation, not any saved funds.

For instance: if your home is insured for $500,000 and requires a $27,000 roof replacement, with a depreciated value of $19,000, the recoverable depreciation would be $8,000. Following the deductible deduction, the insurance company initially pays $19,000 and upon completing the work and paying the remaining balance, the full replacement cost is obtained. This process ensures all costs, including recoverable depreciation, deductible, and initial payment, are covered to achieve the total replacement cost.

Remember, it falls on the insured to prove an insurance loss. Adjusters are not required to uncover damage, and in their busy schedules, they may overlook aspects that could trigger a claim not covered otherwise. That's where JaM Roofing & Construction comes in. Our extensive experience on both sides of the insurance claim process makes us the perfect company to help you through the process.

Think Of The Insurance Estimate As Your Road Map To Success

Most importantly, the estimate outlines the scope of work needed. To ensure a smooth process throughout the claim, it's important to share your insurance estimate and any related insurance documents with us at JaM Roofing & Construction. Most reputable companies will prefer seeing this paperwork before starting any insurance-related work. There is a misconception out there that roofers will use this estimate against you. This is not the case when dealing with the most reputable roofing companies. We try to use your estimate to help you.

Your insurance estimate holds vital details that are essential to assess before proceeding with the project. However, there are additional reasons why sharing your insurance estimate can benefit you.

Anything That Didn't Make It To The Estimate Can Be Worked In Later, No Sweat!

We all pay a lot in insurance premiums. Why would you not want to maximize the benefits of your insurance coverage? Though the policies may look the same, insurance coverage varies among carriers. These items include local code upgrades, permit fees, dump fees, overhead, profit, and quality of materials used. For example, some companies default roofing felt to the minimum 15lb felt underlayment, while most new roofs have synthetic underlayment. Once the old shingles are removed, we can document the felt and insurance will pay the difference.

Moreover, adjusters put in long hours examining numerous roofs, particularly during and immediately after the storm season, and they are prone to making errors like everyone else.

JaM Roofing & Construction specializes in managing insurance claims and will collaborate with your insurance provider to ensure that you receive the compensation you rightfully deserve.

Like, totally, we can't pull this off without your help!

We're Totally Teammates!

When you provide us your insurance estimate with us, we can begin working with you and explaining any items you may not understand. We pride ourselves on transparency and detailed explanations of your insurance claim.

We ask you to provide all relevant details to ensure the job is done right from the start. This not only builds trust but allows us to work with you from the very beginning.

Crack open that insurance estimate and we'll go through it together.

Here's The 411 On Insurance!

Hopefully we've helped you understand the importance of sharing your insurance estimate with us. It ensures that our goals are aligned with you in restoring your damages to their pre-storm conditions. Remember that we're in this together. Please approach this partnership with an open mind and allow us to earn your trust.

We know that the insurance process can be overwhelming, leading to questions and confusion. On top of all that you may be afraid of the risk of falling victim to scams or dishonest roofers. Let JaM Roofing & Construction alleviate these concerns. We aim to address questions and ease worries through educational resources available on our website. If you are unable to locate the answers you need on the website, please don't hesitate to reach out.