The TRUTH about Estimates??!!

When someone is shopping around to find a contractor for a home improvement project such as bathroom remodeling, painting, or roofing, the first step is usually to get estimates. An estimate can range anywhere from cousin Joe saying something like “I could do that for five hundred bucks!” to a professional spending a considerable amount of time measuring and calculating costs in order to provide you with a competitive, yet profitable “bid”. In the retail remodeling, and building business, this is standard practice, and when we do retail work we often provide estimates or bids. This is to insure you are getting the most for your money, and is the best way to do business as an informed buyer.  However, the situation is different with insurance claims, and I hope the following information will explain why getting estimates for an insurance replacement may not always be in your best interest, and how it could actually cost you money.

First, it is generally the insurance adjuster, agent, or claims department that asks a homeowner to get estimates for the repair or replacement after storm damage. Many times for car repairs, or small home repairs this is sufficient for the company to approve payment, and they will send you a check based on the estimate you provide to get the needed work done. This is not usually the case with major damage to roof, siding, and gutters from a hailstorm, windstorm or tornado. The cost is considerably more, many times in the $10,000 dollar plus range. We understand the insurance companies need to send someone out to inspect the damage, and make sure it is sufficient according to company policies, and state laws to warrant replacement. Most of the adjusters are very fair, and more than willing to pay for damage to your home, they simply need to document legitimate damage, and come up with the fair price to pay for the work. However, many of these adjusters, especially in a big storm when they call on many part time subcontractors, are inexperienced with what actual damage is, and will often under pay, or deny a claim out of inexperience or corporate profit requirements (think WallStreet stockholders and earnings reports… kind of like the rooster and hen house).

It is our job as experienced contractors who are familiar with insurance protocol to make them aware of actual damage they may not see, and inform them of current replacement costs. Most the time the adjusters are reasonable and glad to work with us. Occasionally however an insurance company will ask you to get more estimates. This is a hope that one of the estimates will be lower, and that is who you will choose, thus saving the insurance company money.  The only person who does an “estimate” that really counts on an insurance claim is the insurance company. They do this by documenting the damage, and then using a computer program to determine the competitive market price for the work in each state. It is the contractor’s job to make sure all the damage is documented (use the same program), and a fair price is paid to complete all the needed work, and if necessary to point out damage the adjuster has missed.  Note: there is much more work involved with estimating, processing, etc. of insurance claims on our part and the estimates look much different than normal estimates.  Insurance companies even require that profit and overhead be charged as separate line items on home owner agreements.

When the adjuster comes to see your house, and agrees with a contractor on a price, they generally hold back about 30 %( called depreciation) of the payout until the work is actually done and a bill is submitted. They do this to insure that you DO NOT find someone to do the job for less than the competitive market cost, and then attempt to profit, or “pocket” the difference you saved. They will require documentation that you actually are being billed the full amount before they will actually release all the funds they agreed to pay initially. Once they come up with the final estimate, say $10,000 dollars, they will generally only pay you about 7,000 dollars initially until the work is complete. So, if you do not use a contractor that uses the whole 10,000 dollars, they will only send you what the contractor uses, and is noted on the contract.

In other words if you get Cousin Joe’s roofing company to do the job for the $7,000 dollars from the first check, THEY WILL NOT SEND YOU ANY MORE MONEY!! They will only send you the amount actually listed by the contractor in his billing.

If on the other hand you get 3 estimates and the contractor you want to use is bidding the work for MORE than the insurance company’s adjuster- do you think they will agree and give you more? Not usually, they will instead expect YOU to pay the difference.  So then to be clear, if you did take your time to meet with multiple contractors, and explain everything 3 or more times, have 3 inspections, and listen to 3 sales pitches, ultimately the only estimate that really even matters is the insurance adjusters, That’s why it’s critical for us to be present when they make their estimate!  The insurance adjusters set the price they are willing to pay, and other than any real mistakes he may have made, or items he missed, that is what they are willing to pay, unless you can find them someone cheaper to do it!

Generally if someone is considerably cheaper on their estimate, they are either fly by night, uninsured, part time handymen with no warranty, or they didn’t know what they were doing with their estimate, and got in over their head. So in being eager to get your job, they bid much lower, now, they realize that the job is taking longer, and the materials are running low earlier…what do they do? Unfortunately the answer is they usually “cut corners” and again, you, by saving the insurance company money, hurt your own investment.  So as you can see, there is no need for you to get estimates, only to find a qualified contractor who is licensed, insured, has references, and carries a comprehensive warranty. But most importantly, you need to find a construction, or roofing company who is qualified, and experienced in handling insurance claims, and dealing with insurance adjusters. Why? Because no matter how good they are at doing the roofing, and siding work, that doesn’t really matter if they are unable to get everything you deserve to have replaced documented, and paid for-with no cost to you!

I hope this was informative and we look forward to handling YOUR claim from start to finish saving you time, money and headaches!  We are reliable, licensed, insured and references are available upon request.  We only do quality work and as we are here today and we will be here for you in coming years to service your home needs.

Colorado Roofing and Construction

… A Homeowner’s Best Advocate!

40+ Years Roofing & Construction Experience
Roofing – Gutters – Siding – Gutters – Painting – Windows
Free Inspections – Call 720.328.3713

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How Do I Know If I Have Hail or Wind Damage?

If you have recently experienced a hail storm or high winds in your area, have the exterior of your home inspected as soon as possible. FREE Damage Assessment and Repair Estimate by Colorado Roofing and Construction will put you on the right track to restoring your home.  We provide a full service to our clients, backed by 38 years of experience in the construction industry, we are here to help you with your roofing and insurance claims concerns.  Call us today at 720-328-3713 for your FREE Damage Assessment and repair estimate.

Many times hail and/or wind damages more than just the roof. 

Damage can occur not only to your roof but also gutters, siding and windows. We can help you through the complicated world of filing a claim and working to maximize your insurance settlements.  We are your advocate to insure that you will be paid the proper amount for your claim.  Our trained staff of professionals will inspect your property for hail damage and will HONESTLY tell you whether you have legitimate damage that warrants filing a claim with your insurance company. 

Take advantage of our FREE Damage Assessment and Repair Estimate of your home by our local construction industry experts, call us today at 720-328-3713.

Fast, Full Service Professionals – we are locally owned and operated, members of the BBB, licensed and insured.  Best our client’s love us and we care about 100% customer satisfaction.

When you have damage to your home from a hail storm, you would like to know if it is serious or not.  We are experienced at working with the Insurance Companies and will work to get your claim settled fast and professionally.

Special Discount Available Now!

Get Up To $500 OFF if you scheduled by the end of this month to have Colorado Roofing and Construction repair your roof. 

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Addional Comments or Questions

Can I Keep The Money?

Colorado Roofing and Construction, Denver Roofing

Colorado Roofing and Construction, Denver Roofing

Getting the cheapest roofing estimate won’t put any money in your pocket because the insurance company won’t release all of the payment on your claim until the work is complete and they get the final invoice from your contractor doing the work.

When your insurance company agrees to pay your claim, they will first cut a partial check, minus your deductible.  Usually only enough for your contractor to buy materials and get started working on your storm damage home repairs.

After the final invoice is submitted by your contractor, your insurance company and sometimes your mortgage company, may want to do a final inspection to make sure all of the work billed has been completed.

If you do not spend all of the money allowed under your claim, your Insurance Company keeps the difference.

If you choose a roofing contractor that offers your “below fair market price for the repairs”,  you may get inferior materials, less than quality labor and lack of service after the sale.  Worst, the difference between the “fair market price for repairs” and the lowest bid cannot be applied towards your deductible.  Your insurance company keeps the savings. 

At Colorado Roofing and Construction we work hard to provide top quality construction, superior service, free roof upgrades, code upgrades, top rated products and materials, manufacturer’s and labor warranties, etc.  We are also preferred certified manufacturer’s contractors, members of the Better Business Bureau and so much more.  What we are NOT is fly by night here today and gone tomorrow to the next big storm company.  WE are is a locally owned and operated,  insured, licensed and a subsidiary of Duvall Construction, Inc. a Colorado Corporation with an owner who has 38 years hands on residential home construction experience with a specialty of roofing.

Colorado Roofing and Construction

Colorado Roofing and Construction

For more information call
720-328-3713 today.

Colorado Roofing and Construction…
a homeowner’s best advocate!

Tips On Working With Your Insurance Company

Tips on Working With Your Insurance Company

Tips on Working With Your Insurance Company

Colorado Roofing and Construction works to get you every single dollar you need to fix your home damage.  Our Insurance claim specialists are highly trained to assess the damage and negotiate your insurance claim with the Insurance Adjuster for actual home damage.

Here are some tips for you to follow when working with the Insurance Company
  • After a storm if you feel you might have storm damage on your home, contact Colorado Roofing and Construction at 720.328-3713 for a FREE EVALUATION to determine if you have any damage that will justify filing a claim and/or if your roof needs to be tarped.
  • After you have met with us and damage has been determined you will contact your Insurance Agent.
  • Your insurance agent may authorize any temporary repairs necessary to prevent further damage.  Keep receipts for any emergency repairs in order to get reimbursed.
  • You should be contacted by the insurance claims department.
  • An insurance adjuster will be assigned to inspect and evaluate the loss.
  • We’ll meet personally with your insurance adjuster and go over the storm damage and make sure you get every dollar you need to get you home back into top condition.
  • Once the adjuster’s inspection is complete you should receive a claim sheet itemizing the scope of damage and the funds available to complete the repairs, less your deductible and depreciation.
  • Colorado Roofing and Construction will be your licensed contractor for your repairs and work closely with the insurance adjuster.
  • Most homeowner policies grant coverage for full replacement cost minus your deductible provided the actual repairs are completed.  If you’re not sure ask your representative at Colorado Roofing and Construction or the insurance adjuster.
  • Your insurance company may also hold back depreciation.  Depreciation is the amount of your settlement that is not paid unless/or until you complete the repairs on your home.  The depreciation check is usually cut only after the your contractor submits the final invoice.  Your Colorado Roofing and Construction representative can explain this in more detail.
  • After the final invoice is submitted, possibly your insurance company, and sometimes your mortgage company, may want to do a final inspection to insure the work billed has been completed in a workmanship like manner with quality materials before releasing the depreciation check.

NOTE: All insurance carriers have their own method of processing claims. The is just a general outline.

If you have further questions about the claims process call 720.328-3713 today