FAQ's ABOUT INSURANCE CLAIMS

What does hail damage do to roofs?

Hail damage to a roof causes the acceleration of granule loss. Shingles are designed so that the granules block UV of the sun and protect the asphalt underlayment. As shingles age the granules fall off over time and then the asphalt is exposed and begins to dry out and the shingles become brittle. Hail damage accelerates the roof shingles aging process. Hail damage can void the manufacturer’s warranties. Hail damage can lead to other problems associated with the damage.

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Why does insurance pay for hail damage?

Homeowner’s insurance is to protect homeowner’s against a loss in their property value due to damage that is beyond their control. If you have hail damage, you have experienced a financial loss. For example, an original investment of a 20-year roof has now been reduced to a 5-10 year useful life span. Your insurance company will compensate you for your loss and replace your roof

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What does hail damage do to siding?

Damage to vinyl siding will normally be shown by visual breaks, cracks or holes in the siding product. Normally if these items are not present, your siding has not been damaged. Aluminum siding on the contrary shows damage in other ways. Large hail will produce dents throughout the entire elevation of aluminum siding. Even smaller hail with high velocity crosswinds will produce dents large enough to cause significant damage to the aluminum. Even small dents are considered cosmetic damage by your insurance carrier and in most cases are covered under your property insurance policy. Hail causes similar damages to your aluminum guttering system also. Dents visible from hail are normally cosmetic, but in most cases are still covered by your insurance policy.

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Why hasn’t my insurance company contacted me about the damage?

Insurance policies require the Homeowner to file all claims. This is the biggest reason that 85% of all hail-damaged homes never have a claim filed.

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What should I do if the insurance check has my mortgage company’s name on it?

Each mortgage company has its own unique policy regarding insurance payments. You should contact your mortgage company as soon as you receive the first check to get their procedures. It can take up to 4 weeks to be able to deposit this check so you should get the ball rolling as soon as you get the check. You can authorize Ironside Restoration to deal with your mortgage company on your behalf to insure your payment is properly processed.

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Can I avoid paying my deductible?

Legally, you can't. However, we do have a referral program that can help reduce out-of-pocket costs. Ask for details.

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What does (RCV), (ACV) and Depreciation all mean?

RCV stands for Replacement Cost Value (RCV=Depreciation+ACV). The cost of repairing the covered damage in today’s market. Most residential policies are RCV policies but some wood shake roof homes have an ACV rider for the roof. If you have a wood shake roof with an ACV rider you will not be receiving the depreciation amount.

Depreciation is a decrease of the item's value (useful life) due to age, wear, or market conditions. Your estimate may include depreciation for items & materials that are being replaced. Once the replacement of your covered loss has been completed, you may be able to recover the depreciation amount that was withheld depending on your policy terms, conditions, and exclusions.

ACV stands for Actual Cash Value. This represents what the damaged items are worth after taking into account normal wear and tear, age and how much useful is remaining (RCV-Depreciation=ACV). This is usually the amount of the first insurance check and payment must be made within a certain amount of time by law to the policy holder

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What warranty do you provide for your work?

We provide a lifetime warranty on our work. Most companies will only offer one year. Generally, if there is an issue with the workmanship, it will be noticed within only weeks of the installation. Still, if you notice anything that is deemed problematic due to our work, we will fix it. If and when we use any specialty trades that require local and state licensing such as roofing, we only use licensed and insured sub-contractors.

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What warranty does your material have?

We replace all of our roofs with a LIFETIME Architectural shingle. This is a free upgrade regardless of what type of shingle you currently have. We also install Ice & Water shield to prevent you from getting ice damming in the future, very good to have especially with the amount of snow we have seen lately in Illinois.

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