We suggest that a First Class GC Project Manager inspect your property to verify the extent of damage suffered before you file an insurance claim. Our Project Managers have been trained by retired insurance adjusters. We go through extensive training on knowing how to identify storm damage and exactly how to restore your home from a catastrophe. We will walk you through the entire process on site, and provide handouts to help take you step by step to make this process stress free. We understand that suffering from a catastrophe is tough. We are here to help and make sure this process is as easy and pain free as possible.
After a First Class GC Project Manager has confirmed the damage your home has suffered, you will want to contact your insurance company. Our Project Managers will help you through this process. Locate your policy number (Usually listed on previous billing statement, or on their online website), you will need this to file your claim. This is also a good time to find out what your deductible is for future reference. Many of our clients find filing online faster, which avoids lengthy hold times. Most insurance companies have a specific department, not your agent’s office, to file homeowner’s claims. Once you file your claim, call your mortgage carrier as soon as possible and ask them for a claim packet. This speeds up the process drastically and ensures your project will not experience delays. In the event the insurance carrier denies the claim, you have the claim packet for your files.
Your insurance carrier will then assign an adjuster who will visit the home to confirm damage severity. First Class GC strongly recommends our clients take advantage of our Project Managers ability to help negotiate the proper claim settlement. We know what it takes to complete the repairs your home requires and will be sure the settlement includes everything you need to restore your home to pre-storm condition. First Class GC provides your insurance carrier with a full Aerial Analysis from Eagleview.com and scope report to ensure your home is estimated with the most advanced technology available. This ensures there are no discrepancies on size or estimating materials, making the process clear and painless. Once a settlement is figured, most insurance carriers mail the claim summary within 7-10 days. This settlement is the guideline of specifications for FIrst Class GC to follow. The carriers use predetermined prices, based on market analysis, for which they estimate each item. Once this claim summary arrives, we will meet to discuss its content, review the quantitative estimates and discuss the construction process.
Almost all insurance carriers apply depreciation to each item in the settlement. Think of this as hold back for the difference in value of what your roofing/siding is worth (aged or damaged) vs. what it will be worth when it’s newly restored. First Class GC performs the project based off the insurance company’s settlement so that when the repairs are complete, we can issue the proper invoice to your carrier for you. When we do so, the insurance carrier then pays you only for the depreciation they applied for the items repaired. You will be receiving a call from us stating the invoice is ready to be submitted. When you receive this call, it is wise to wait a few days order for you to receive the depreciation amount in full, you must complete the claim in full and provide invoices for the work. First Class GC sends this courtesy invoice for you and we place a follow up call to your carrier to ensure they issue you the final amounts owed.
Most of our clients restoring their homes through an insurance claim find their claim drafts have their mortgage carrier endorsed as an additional payee. Your insurance company adds your mortgage company on the check because they have a vested interest in the home. In the event the claim repairs are not completed, the mortgage carrier is carrying the loan on a home worth less than appraised. The mortgage companies can be incredibly tedious to work with and in recent years, due to the failing housing market, your involvement may be required. Our staff will facilitate the process with diligence and tenacity but we may need a follow up call or two from you. It’s crucial for us to work together so you receive your funding in a timely manner.
In order for First Class GC to ensure we provide you with the best products and craftsmanship possible, it is crucial your carrier covers the claim in full. For example, there are over 30 steps in the re-roofing process. Failure to cover one of these steps results in an inferior roofing/siding system. We employ a Supplement Insurance Specialist to ensure your carrier covers the project step by step, never missing critical components in the process. Most items missed by the insurance carrier are oversights or additional items found while completing the repairs. We provide them with pictures, diagrams and estimates for our clients so the claim process continues without interruption.