303-709-7484 | 970-646-2569

Having a hail storm at your property is stressing! Understanding the insurance process shouldn’t be! Our staff and managers consist of retired insurance industry experts – from senior adjusters to agents, our team has a great understanding of the insurance process.

Did you have your roof inspected by your insurance carrier last year after one of the many storms?  Did they give you a check and talk to you about Actual Cash Value?  Almost all insurance carriers handle claims in this way; depending on the age of your roof they give you a certain amount of the money upfront (the “Actual Cash Value” or “ACV”).  They come to this by depreciating the entire amount they’ve allowed by the age of the product and the life expectancy.  If you have a 15 year old roof that is a shingle rated to “live” 30 years, you have 50% of the money (less your deductible since that’s your responsibility) that they classify as the “ACV” and give you upfront.  Now, in many cases you have the opportunity to get back the money withheld (the “Replacement Cost Value” or “RCV”), but most carriers require that you have the work completed in one year or 365 days from when they initially gave you the ACV money.  So for most of us affected by 2018’s storms, that time is coming up mid-summer of 2019.  If you haven’t scheduled your roof’s replacement, the weather is getting warmer and now is the time!  Contact our offices at 303-709-7484 or 970-646-2569 and let us help you get scheduled and make sure that you don’t miss the timeline of your RCV money or feel the pinch of trying to schedule against a tight timeline.

Not sure about your property or if you had damage last year?  Give us a call and we will happily have one of our Project Managers come out and inspect.  As always, you can expect an honest, thorough inspection of your home from our team here at Roof Link.  We would be honored to have the opportunity to earn your business and help you to better understand the insurance process!

This article by State Farm addresses Replacement Cost and Actual Cash/Market Value in greater depth.

Roof Link is not affiliated with any insurance carrier and cannot speak on their behalf. We are happy to provide our experiences and professional opinion and assist you in your claim if needed.

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