When it comes to filing an insurance claim on your property, you can’t choose a better contractor than JB MasterBuilder. JB MasterBuilder takes all the stress and effort away from the homeowner by working closely with the insurance company and their clients to ensure all parties are pleased and every detail is covered.
To help you better understand the insurance claim process, JB MasterBuilder has provided you with this easy 5-step process that will assist you in what can seem like a confusing endeavor.
Call a Specialist
Call JB MasterBuilder for a thorough damage inspection at (303) 884-3947
Inspect Your Damage and File a Claim
Once we have inspected your roof and verified it has damaged caused by a recent storm (wind, hail, lightning, fire, and water) our team of experts will guide you through the process of filing an insurance claim.
Have JB MasterBuilder Meet with your insurance company
After your claim has been filed an insurance field adjuster will be provided to you by your insurance. Your insurance adjuster will set an appointment to examine the damage. In order for us to best assist you with the inspection we ask that you give us a day or two notice of the date and time of the appointment. At the day of your appointment we will walk the property with your insurance adjuster to inspect the damage and make sure all areas are properly noted and you get the protection you deserve.
Get Treated Fairly
Once the field adjuster has inspected the damage it will be either (denied or approved). At this time we will act as your representative ensuring that all damaged components are correctly paid for by your insurance company. We are professionally trained, and ready to handle even the most problematic insurance adjusters, so whether your claim gets denied or approved we will make sure you are treated fairly and with respect to you and your home.
Review scope of the work and begin
Once your insurance adjuster has approved the scope of work, you will receive an ACV (actual cash value) check within 7-10 business days. Use the following steps based on if you have a mortgage or own your home or business outright.
I own my home:
- Contact JB MasterBuilder to review scope of work, insurance check and finalize contract.
- Set date for construction
I have a mortgage:
- You will need to have the insurance company endorse the check. To do this, ask a JB MasterBuilder representative and we will further assist you.
Once the check has been mailed and endorsed by your insurance company it will then be deposited to JB MasterBuilder so materials may be purchased and a start date commence.
UNDERSTANDING YOUR INSURANCE COVERAGE
– (ACV) ACTUAL CASH VALUE
Actual Cash Value is the amount paid immediately after the adjustment, what your damages are worth at that point in time. The insurance company will withhold depreciation (age), until work is complete but will then release it. This way the insurance company is ensured that repairs have been made. Be wary of ACV ONLY policies, these policies will not pay recoverable depreciation and will generally leave you with insufficient funds to be able to do repairs. If you have been sold and ACV ONLY policy, CANCEL IT! and find another policy because you are being cheated.
(RCC) REPLACEMENT COST COVERAGE
Also know as Replacement Cost Value (RCV) is the cost to replace lost or damaged property with new property of like kind and quality at current prices. Some insurers automatically include RCC in the homeowner policy; however, some do not, so be sure to ask which you have.
ORDINANCE AND LAW COVERAGE
Also known as code coverage, every city has different code requirements that have to be met and the insurance company should pay for them, if you do not have it, you want to you have code coverage added to your insurance policy. Code Coverage covers you in the event that your city has changed its codes requirements and you have to make an insurance claim.Usually code coverage is an optional coverage that must be purchased in addition to your homeowners insurance.
- I have code coverage: this covers you in the event that your city has increased requirements and you have to make an insurance claim. If you have code coverage you will not have to pay “increased cost” based on local code requirements.
- I don’t have code coverage: In the event that you “do not” have code coverage and your local codes have changed you will be required to pay “increased cost” out of pocket in order to meet your local building standards.