Roof Repair Service
Your roof is a major necessity that requires a lot of management and checkups. You may not think of how your roof provides you protection but it does in many ways. The weather can be unpredictable at times and it is important to feel safe in your own home when there are harsh weather conditions. These conditions can have major effects on your roof.
You may start to wonder if your homeowners insurance will be able to provide coverage for these damages that may occur, or already have. Damage on the roof can be a very stressful experience, especially when it comes to filing insurance claims for the damages done. In order to reach out to your insurance, you must know which policy is the one that you have, which may either be ACV or RCV.
RCV
RCV (replacement cost value) is an insurance that provides products at 100% without any use or diminished lifespan. This policy is basically able to pay for your entire roof replacement needs. This is different from the ACV policy in many ways. As your claim is approved, the insurance company provides an overall estimate for the required work in order to have your roof repaired and replaced. Your policy in this case would pay all damages without the deduction of depreciation.
ACV
An ACV (actual cash value) policy will have you get a payout for what your roof is worth. In this case your insurance will only approve a payment for what the value of your roof is. As soon as your claim is approved, a check will be issued to you with the amount of value of your roof. This would mean that the rest should be paid out of pocket. What you receive will ultimately be determined by your insurance company.
When choosing a roofing company to provide you with proper roof installations, make sure to analyze all of your financing options first. Our roofing services provide both policies and either or will protect your roof if damaged by a storm.
The importance of insurance claim
In this case, when choosing between both policies, RCV will offer much better and proper financial protection. ACV has less advantage since it does require out of pocket payments. Both have an advantage over not having policy at all.
Roof Repair Service
Storm damage can happen at any time. So it is better to be prepared, for whatever circumstance may occur.
