03/09/2026
Claim Filing 101
Part 2: Understanding Your Policy
Two homeowners can experience the same storm damage and have very different claim outcomes depending on their insurance policy. These differences are usually tied to policy decisions and the overall approach of the insurance carrier.
Payout amounts are most significantly impacted by deductible amounts and whether the policy is written as ACV (Actual Cash Value) or RCV (Replacement Cost Value).
Deductible
This is the portion of the claim the homeowner is responsible for before insurance coverage applies.
Replacement Cost Value (RCV)
An RCV policy covers the cost to replace damaged materials with similar materials, minus the deductible.
Actual Cash Value (ACV)
An ACV policy factors in depreciation. The payout is based on the age and condition of the roof, which can significantly reduce what insurance contributes toward replacement.
Carrier culture can also play a role. Different insurance companies interpret and handle storm damage differently. Some carriers tend to make the claims process relatively expedient and straightforward, while others require much more documentation and follow-up before decisions are made.
For homeowners, the insurance carrier you choose can have a significant impact on how simple — or complicated — the claims process becomes after a storm.
In the next post, we’ll talk about how homeowners should approach working with contractors during an insurance claim.
