IMPORTANT INFORMATION REGARDING YOUR INSURANCE CLAIM

 

• Two or more checks may be issued for your claim

• Your deposit check is due for work to begin

• Your second check will be released once the work is complete

• Additional checks may be released to cover code items or to supplement insufficient initial allowance

• All checks that pertain to contracted work are payable to Sky Manor Roofing upon receipt

 

Insurance claim payments are typically submitted via 2 or 3 separate checks.  When your insurance adjuster approves your claim, you will receive your first check for the Actual Cash Value (ACV) of your damaged property (minus your deductible). These funds are designed to serve as a down payment for the recommended repairs.

Your second payment, known as the Depreciation, will arrive once we have invoiced your insurance company and all work is complete.  These two payments plus your Deductible constitute the Replacement Cost Value (RCV) on your total initial claim.

A third payment is often issued for Supplement Items pertaining to building codes in your municipality.  This payment will also cover any additional damage not included in the initial adjustment scope, or to supplement insufficient preliminary funds.  It will also include the cost of the building permit. Occasionally your insurance company will combine the Depreciation and Supplement payments into one check.