How To Read Your Insurance Claim Document

If you don't know how to read an insurance claim document, you're not alone. Insurance claim documents are confusing. There are a bunch of different numbers a huge amount of sections that don't seem to relate to anything, and an endless array of dollar amounts.
In this video, we'll help you understand and make sense of your insurance claim document. We'll explain the lines that talk about depreciation, deductibles, actual cash value, replacement cost value, overhead and profit, and much more.
If you've ever been mystified or intimidated by an insurance claim document, this video will clear up the confusion.
Homestead Roofing, Inc is a licensed and fully-insured roofing contractor in Colorado Springs, Colorado and serving homeowners in Colorado Springs, Fountain, Falcon, Peyton, Manitou Springs, and other surrounding communities.
Visit the Homestead Roofing website for a lot more information, education, scam alerts, and tips at homesteadroofingcolorado.com or call our office at 719-433-6991 if you have any questions about this, or any other roofing-related topics.

[@mariad.escoto555]

i dont know why I didnt view your videos. I learned so much!! ty

[@mishonbaker403]

Thank you I am a brand new adjuster and this information was more than helpful because I'm working more as a claim examinator processor and the training sucks that they gave us but we are the people that do the investigating in the claims to write the check for the insured.

[@homesteadroofing]

Wow! Glad we can help you!

[@salahglobal3026]

Thank you for a great video!

[@1SonOfThunder1]

Extremely helpful! Thank you.❤

[@suebrunk2732]

Thank you so much!

[@two60zcowboy27]

Top Notch! Thanks 👍🏻

[@fuelmmma]

Any videos on reading the insurance drawings of the measurements? Great video

[@Sbregher]

OMG! This video was so helpful! Thank you so much!!
Now I have to figure out why some of the quantity totals don't match the sub totals under some of the categories.

[@homesteadroofing]

Let me know if you'd like a little help.
[e-mail]

[@Sbregher]

@@homesteadroofing How do I know what line items were covered in a supplemental payment? There are sections/categories that say "supplements" but their totals don't balance with the payment amount. The "supplements" total is less than the payment amount. I need to know what amount went toward roofing & gutters. Why can't they just put an astrid (*) by the lines items that are covered in the payment. I asked my claims adjuster to send me a list of the items that were covered by the payment, and I was told that it is listed in the new estimate. How do I know what line items were covered in a supplemental payment?

[@mariad.escoto555]

so I got a significant amount for our new roof. I 5 bids. 14, 12, 9, 8, and 8 in thousands. I chose a local buisness. they are offering 5 years guarantee. warranty is void if a tornado, huricane, wind or hail somes and damages the new roof. Is that protocol? they have 15 years exp. ty

[@homesteadroofing]

Yes, those things will void warranties.

[@brendacollazo7740]

why mine has amounts on the non-rec deprec part for the service, i asked insurance and they said something about it so they are not changing ti. for genera demolition they deducted 734.97.

[@homesteadroofing]

That's really weird.

[@mishonbaker403]

So how do I find the very first video of the series that explains the claim

[@homesteadroofing]

Sorry... I thought I had them all back-linked and cross-linked. Here's the 1st in the series. ua-cam.com/video/kJCM3uImXS0/v-deo.html

[@JUSTinTx254]

Can the contractor charge more than what the claim is covering? Or will that come back on the home owner?

[@homesteadroofing]

If the contractor is charging more than the claim amount, that's legit. If the homeowner doesn't want to come out of pocket for the difference, either the homeowner or the roofer needs to demonstrate to the insurance company why his cost is higher. Or... if all his charges are justifiable, then once the homeowner has paid the bill and sends it to the insurance company, the homeowner will get reimbursed.

[@davidjmcgree]

Who receives the depreciation check? The homeowner first or is it sent directly to the contractor?

[@homesteadroofing]

that depends on the agreement you have with the contractor.

[@ericemeritz9870]

Who gets paid the $1,000 Deductible? Insurance company ? Contractor repairing roof? Me ?

[@homesteadroofing]

This is an old video of mine, but it may help clarify - ua-cam.com/video/03moxfQXJL0/v-deo.html