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Why is my roof costing higher than my check?

While we understand your sentiments, we will try to word this as simple as possible. It is important for you to know that there are always two principal subtractions from an adjuster’s perception and ultimate estimation of how much your roof will cost you. The former is usually classified as the deductible while the other latter is termed for betterment or depreciation.

Are my adjuster’s calculations set in concrete?

Your adjuster’s calculations are usually not set in concrete. No. There are many human factors in this process. A commonly encountered one is for your contractor and adjuster attempting to reconcile a few items. Where we give you an estimate that differs from that of your adjuster, you absolutely need not fret. The core cost factor in one shingle is mainly asphalt which is the brother to petroleum. It is a fact that the prices in the oil market have been unstable for a while and that has affected shingle prices, which has fluctuated along with oil prices.

What is does betterment or depreciation stand for and what are RCVs and ACVs?

RCV is an acronym used to represent replacement cost value. Simply put, it is the present retail price that you would need to pay to get the items that need replacement after they have been certified damaged. Actual cost value (ACV) on the other hand is quite explanatory.
Let’s use a sample. Let us assume that your roof has an estimated lifespan of 20 years and in its tenth year, it gets damaged. If the cost to replace the roof is put at $20, 000, then the replacement cost value would remain $20, 000 while the actual cost value would be $10,000 (10/20 of $20,000) the $10,000 difference between the two sums is the depreciated value which you will receive. This depreciation sum is as a matter of practice paid after submission of final invoices.

I have shopped around and seen a contractor that can my roofing for way less than the sum given by the adjuster. Does this saving help to reduce deductibles?

As a general rule, deductibles always go first before any other thing. The simple truth is that you save your insurance company money when you decide to get a cheap contractor to do your work. When you take to your insurers a lower sum than what was given to you by the initial adjuster you contracted, the ripple effect is that what will be given to you as depreciation later on will also reduce.

I just found a contractor that promises to cover my deductible, is this proper and how can this be done?

This is one of the warning signs you shouldn’t ignore. It is not proper to push deductibles under the rock to cover them and a contractor who values their years of hard work would not undertake to do this.

Is a referral fee or sign allowance given to me proper?

While it may be a seemingly harmless thing to do, in practice, what we have observed is that this is mostly used to hide a deductible. For your referral fee to remain legitimate, the fee must stay the same whether or not you choose to get a roof. It also would need to be reported as taxable income.

When will my insurance carrier send me my additional funds after I submit my final invoice?

There is really not a timeframe but it must not be an unduly long time. They have an obligation under the law to release your funds in a number of days.

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If you are in the Dallas area, call us today on 214-952-0203.

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