The paperwork furnished by your insurance provider can often be confusing. In this article, we will explain how to quickly get the information you need from this document.
Understanding Line Items and Measurements
The Insurance paperwork, or scope, breaks down the work to be done on your home. While it can seem intimidating at first, the information is organized and easy to understand. Each row explains a portion of work to be done, the quantity of work to be done, and how the insurance pays out for this work. Most of the actual surface area, whether it is asphalt shingle, corrugated metal, or plasticized membranes, is measured by the Square. A Square (often abbreviated SQ) is a measurement that represents a 10′ by 10′ area of a roof. Other measurements may be Linear Feet(LF), Square Feet(SQFT), and Each(EA). Insurance paperwork is broken down using Unit Cost Measurement, meaning that there is always a price per measurement for work being done.
Costs and Insurance Pricing
Your Project Manager should have explained the Actual Cash Value and Replacement Cost Value, but you can see a more in-depth breakdown of the payment structure on your insurance paperwork. It is important to note that different items have different Depreciation values based on that item’s tendency to retain value over time.
Bid Items and Supplements
Occasionally, your insurance will not have Unit Costs for certain items, like solar panel removal. In this instance, you will need to contact your solar company and have them submit a bid to the insurance company for the removal and replacement of solar panels on your roof before work can begin. Additionally, issues may arise during the project that may incur extra costs, such as additional layers of shingles, or incorrect measurements. These are easily documented and submitted to your insurance by your Project Manager. Your insurance provider will send out an additional disbursement for covered items.
Your Project Manager will be able to answer any specific questions you have regarding your paperwork before work begins. Don’t be afraid to reach out with any concerns or if you simply need a bit of clarification on a line item or portion of the job. We look forward to working with you!