Roof Inspection Process
If you think you may have hail damage you should call Excel Roofing. We will come inspect the roof and let you know if you have hail damage and if should call your insurance. The reason an honest evaluation is so important is because if you call your insurance, and there’s no damage, you may still get a claim just for requesting the insurance inspection. This is important because you never want to file an insurance claim unless you’re sure that you’re going to get a settlement.
Call Excel or fill out an Inspection Request form.
Excel will inspect the roof and make recommendations.
Excel will meet with the insurance adjustor to secure a fair settlement.
Insurance Claim Process
Excel Roofing knows how to simplify the insurance claims process. We know all the major carriers and . . . well, they know us too! If you were to ask your agent, “Which roofing companies do you recommend?” Chances are your agent would recommend Excel Roofing. We’ve been around since 1993 and personally know a lot of the agents in the Denver Metro Area. So let Excel Roofing navigate the complex claims process. We live for this stuff.
and What is “Depreciation”
Home insurance policies that are “replacement cost” will generally pay two installments for a new roof. The first check will be given or sent to the policyholder as soon as the adjuster has completed the damage assessment. The second check, generally 10 to 40% of the total settlement, is withheld until repairs are completed. This second check, usually referred to as “depreciation,” will be sent to the homeowner when the insurance company receives an invoice for final payment. Immediately upon receipt of this invoice from Excel, please fax it to your insurance company. This will expedite the depreciation payment.
Excel wants to help, and will e-mail or fax the invoice directly to your insurance company. If you would like us to, we can handle the whole process for you; all we need is your claim number. It’s just that easy!
It is important to remember that the settlement is based on the cost to repair the roof with materials of “Like Kind and Quality.” Sometimes there is a discrepancy in the adjustment in cost ($), size of the roof (Squares), or scope of damage between the homeowner and their insurance adjuster. If this is the case, your Project Manager has the expertise necessary to resolve these differences directly with your insurance adjuster. Again, we want to help whenever we can, and make the entire process as simple as possible for you.
Mortgage Company Procedures for Releasing Funds
Most insurance companies will include both the homeowner’s and the mortgage company’s name on the first and sometimes the second check. Mortgage companies require the homeowner to endorse this check and send it to them. Each mortgage company has its own procedures for releasing funds back to the homeowner. Normally this is only after repairs have been done. The best thing to do is ask your mortgage company what documentation they require to release these funds.
Please be aware that most settlement checks are valid for 180 days. If the homeowner allows this check to expire, the mortgage company will not honor it and a rather lengthy process will be required to have this check re-issued. Please make sure the mortgage company receives this check before it expires.
Some mortgage companies will require extensive documentation, and possibly an inspection by one of their representatives. Because Excel Roofing has assisted many homeowners with this process, we are familiar with the requirements. Your Project Manager will be happy to assist you in any way possible. We have found that e-mailing or faxing documentation directly to the mortgage company can be a tremendous time saver to you, the homeowner. We want to help you as much as possible.