09/03/2021
This is the information that we give to our homeowners who have an agreement with us for storm damage restoration. It may be helpful even if you don’t use us for restoration.
Next steps:
If you have not submitted your insurance claim, please submit your claim as soon as possible and document your claim number and phone number of your insurance company. If you have had emergency mitigation, let the insurance company know and forward them your receipt if available.
Your adjuster will come out and estimate damages.
Your adjuster will compose an estimate report using Xactimate.
This report will have a detailed breakdown of what they have determined they are responsible to pay.
There may be damages that were missed that may be uncovered as the restoration process unfolds. That’s ok. We can submit those as we go to the adjuster.
The payments are typically split into 2 or 3 payments:
1. The first is the ACV (actual cash value of your property after depreciation) - it is paid upfront before work begins. It helps to pay for materials needed for your restoration. At that point materials and labor are ordered.
2. The second check is the remainder of the RCV (replacement cost value). It is paid after the work is completed a Certificate of Completion is submitted by us, your contractor, to your insurance company. It may take a little while to come in. We do not ask for final payment until your insurance company pays you.
3. The third check, if there is a third, is payment for supplements we found and requested throughout your build back. An example may be that your insurance may have paid for sheet rock but was waiting to see evidence of insulation damage to include for payment. We send pictures with a request for reimbursement for what we replace, and your insurance company pays for it rather than you paying it.
Financially, as an insured homeowner, the only thing you are required to pay is your deductible. The insurance company is responsible for the rest of the restoration cost. They are not, however, responsible for requested upgrades. For example, if you have carpet and want to go back with laminate, there is sometimes an increased difference in cost. Upgrades and associated costs will be documented in writing and signed, if requested.
After the first check is received and materials are ordered for your job, work to complete your restoration will begin. Our work is not complete until after a final punch list is completed. Work in progress is a construction zone. We keep it as neat as possible, but it’s not going to look finished if it’s not finished. Please be mindful of how you treat our workers in progress. We will be sure to do an excellent job for you. For example, unfinished sheetrock is not pretty and is a messy job in progress. If you see something that you feel has been missed, please communicate that to the contractor and/or project manager directly and we will address it.
When the work is complete, we will walk through it with you to inspect it. We will complete punch list items as needed. When you are satisfied with the completion of the job, we will submit a Certificate of Completion with request for final payment(s).
When you receive the final payment, please remit payment to us as soon as available. Our bank prefers that you deposit that check to your account and pay us directly unless the check is already made payable to us.
I know that’s a lot, but we like to be as transparent as possible. If you have any questions throughout the process, communication lines are open for you to do so.
Holly Benedetto
225-892-1190
