G/M Home Exteriors take pride in our relationship with your insurance company. We take a direct and honest approach to storm damage meaning if you have it, we will work with your insurance company to get you what you deserve. If you don’t have damage, we will tell you that too.

 

 

There are many things about the insurance process that most homeowners do not understand. G/M Home Exteriors has developed a simple step by step process that will help you, the insurance company and the contractor.

When you first notice storm damage or think you may have storm damage call your insurance company immediately.

The insurance company will sometimes arrange for an adjuster to come and inspect your home for damage. Most times when damage occurs, the city just had a big storm and everyone thinks they have damage. When this happens, your insurance company will ask you to call 3-contractors for evaluations and estimates. It is important to call a Certified Roofer or Contractor. Visit the KRCA for a list of trusted contractors. The reputable roofer or contractor will then provide you with their estimates and the insurance company will ask you to forward them the estimates. Do not get convinced into signing a contract on the spot. Some contractors want you to sign a deductible plus insurance proceeds contract at the time of there visit. They also say they will take all the worry out of working with the insurance company by doing it for you. There is no risk to these contracts however if you don’t know the contractor, how do you know they will do the best job for you. Our advice before you sign anything is to know your contractor. Get the BBB report, Angie’s list report and call the KRCA and HBAL for a list and verification of local reputable contractors.

If you trust one contractor more than the other, tell your insurance company. If you only want to use the company you trust or have a previous relationship with, you can. Tell the insurance company you will only use the company you want.

It is important to know that the Insurance Company has a set price they will pay for every component of what may have been damaged in and outside your home. A contractor with a higher price than what they will pay does not get you more money. On the other hand if a price is lower than what they are willing to pay, sometimes they will agree to meet the price of the contractor even though it is lower than the going rate. A Certified and reputable contractor will know how to work with the insurance company to make sure you get your money’s worth and to make sure what was damaged gets replaced.

When you submit the estimates to your insurance company, they will then schedule an independent adjuster to come and verify the damage. Some contractors will say there is damage and take a chance the insurance company will agree with them. This is a waste of everyone’s time. If the adjuster does not see damage they will not pay the claim. It is important to have your contractor of choice at your home when the adjuster arrives. This will insure an agreement with the adjuster and contractor and give the contractor a chance to show the adjuster the damage in the event the adjuster does not see damage. If the adjuster and contractor agree and you sign the contractor’s agreement with the adjuster there, the adjuster will usually pay the full amount for replacement. If the contractor is not present the adjuster may only pay a portion of the claim and hold the rest of the claim until the job is complete. The amount held back is called the “Depreciation”.

Once your insurance company and contractor agree to the price to replace what you had damaged, the contractor will complete the work.

Once the work is complete the contractor will send you an invoice for the completed work. This is what is used as a “Certificate of Completion” and should be forwarded to your insurance company by you as soon as you get it. This will confirm to the insurance company that you had the work completed and will allow the insurance company to release any additional funds previously held back until the job was complete. This amount is called the “Depreciation”. You should pay the contractor the amount you already received toward the invoice and send the additional depreciated amount when you receive it. This helps the contractor pay the bills and employees for the work done on your home at the time of completion. It also shows the contractor you are happy with there work and keeps the relationship on good terms. If the amount was paid to you in full, the invoice should be paid to the contractor upon completion. Sometimes there may be additional amounts on the invoice. This should only be wood replacement if necessary. Damaged wood cannot be verified until after the products being replaced are removed. Most times wood replacement is not paid for by the insurance company unless the wood damage was caused by the storm. Make sure you are told about every piece of wood replaced by your contractor at the time of replacement, not after the job is complete.

It is good to know that the prices you get from a contractor are not set in stone. If you like a particular contractor and want to use them, tell them. They can work with your insurance company to come to an agreement with pricing. When they do, the contractor will send you a new contract with the agreed pricing. Then you can use the contractor you want.

It is good to know that a contractor who is willing to absorb your deductible to get the job will make up the difference during the job with the quality of work and products he uses on the job. Any type of manipulation of funds paid by an insurance company for work to be completed is call Insurance Fraud. If your contractor is willing to do that, imagine what he will do while completing your work.

If you have any additional questions about the insurance process G/M Home Exteriors has 30-years of experience and can easily guide you through the process.

In summary, here are the step by step procedures.


1.    Call your insurance company at the first sign of damage
2.    Get an estimate from your certified contractor
3.    Send the estimate to your insurance company
4.    Meet the insurance adjuster and certified contractor to verify damage
5.    Agree with the certified contractor and sign the agreement
6.    Certified Contractor completes work
7.    Certified Contractor bills work
8.    Homeowner forwards Certified Contractors invoice to the insurance company
9.    Homeowner either pays total bill or portion of bill already paid
10.    Homeowner pays balance if payment was depreciated
11.    Work Completed and paid. Everyone is happy.
12.    Homeowner recommends contractor to all of their friends.

 

Contact G/M Home Exteriors today for a free estimate