A roof on the Mississippi has to take hail in June, a hundred degree attic in August and an ice dam in January. Storm damage? (888) 888-8888
IronbridgeRoofing Co.

Money, Paper and People

Lesson 16. How a Storm Insurance Claim Works

On a storm claim the homeowner files and nobody else can, the first check is deliberately smaller than the estimate, and the rest arrives after the work is done.

At a Glance

  • Only the policyholder can open a claim
  • ACV comes first, RCV after the work is complete
  • Nobody may legally absorb your deductible
  • Know whether your policy pays ACV or RCV before the storm

The Order

  1. A storm happens. That date is your date of loss
  2. Get an independent inspection so you know if there is a claim
  3. You call your carrier and open it. Only you can do this
  4. An adjuster is assigned and schedules an inspection
  5. Your roofer meets the adjuster on the roof
  6. The carrier issues a scope of loss and the first payment
  7. Work is completed and the final invoice goes to the carrier
  8. The withheld depreciation is released

ACV and RCV

Actual cash value is what the roof is worth today, after wear. Replacement cost value is what it costs to put a new one on. The difference is depreciation.

On a replacement cost policy the carrier pays ACV first, holds back the depreciation, and releases it once the work is proven complete. That is why check one looks too small. It is not a dispute and it is not a lowball, it is the structure.

Worth knowing. On an actual cash value policy the depreciation is never released. You get today's value of an old roof and you pay the rest. Check which one you have before a storm, not after.

The Deductible

Your deductible is yours. In Iowa and in Illinois it is against the law for a contractor to pay it, waive it, absorb it, rebate it or hide it in the price, and a homeowner who goes along with it is part of the arrangement.

Anybody offering is telling you how they handle everything else. Walk away and say why.

If You Are Denied

A denial often means the adjuster did not see what your roofer saw. Reinspections are normal and they change outcomes.

  • Ask for the report and read the reason given
  • Have your roofer send photographs and written findings
  • Request a reinspection, in writing
  • If it is still denied and you believe it is wrong, your state insurance division takes complaints

And if the damage genuinely is not there, take the answer. A roofer pushing you to fight a correct denial is not on your side.

Next. Lesson 17. Permits and Code, Iowa and Illinois
Call (888) 888-8888