Residential and Commercial Insurance Claims
Black Hills Exteriors has a team of experts ready to assist you in the restoration of your property whether it be residential or commercial. We know that trying to find different contractors for all the work can be difficult . That is why Black Hills Exteriors is the best choice for all of your exterior needs.
We Manage the Whole Claim for You
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Does hail damage effect the value of my home?
Yes, hail damage may significantly depreciate the value of your home. It can also stop the sale of your home if you should choose to sell. Not fixing damage is never a good idea because insurance companies keep records of past claims by the homes address, not by the person who insured the home. Damages left UN-fixed will result in the next homeowners loss too.
How will you handle my insurance claim?
Here at Black Hills Exteriors, our representatives will work through your claim from start to finish including you in every step of the process. We are a general contractor specializing in this field so we will help with the paperwork, supplements, adjuster meetings, all the way through the process of choosing products & colors, ordering materials, scheduling crews, and final walk throughs with inspections.
How long do I have to complete the work?
It all depends on the policy you have with your insurance company. Storms affect many homes at one time, and insurance companies understand a contractor cannot get to all of your work right away. They usually give between 6 months to 2 years to complete necessary repairs. Remember that you can always file an extension if needed.
Will my rates go up if I file a claim?
No, because an insurance company cannot raise your rates due to an individual claim on a house. They can only raise rates by region or zip code.
What is depreciation?
This is the amount that is set by your insurance company to be withheld on a certain percentage of your claim due to age or other contributing factors.
What will I have to pay out-of-pocket?
You, as the homeowner, should only have to pay the deductible and any additional upgrades to your home that are not included with the claim.
What is O&P? What is it for?
O&P stands for Overhead and Profit. This is a service that the insurance company is willing to pay a general contractor for complex claims with multiple trades with no cost to the homeowner.
What is the difference between ACV & RCV?
ACV, Actual Cash Value, is also known as Fair Market Value which is the standard that insurance companies prefer when reimbursing a policyholder for their losses. ACV is equal to the replacement cost minis any depreciation (ACV = Replacement Cost – depreciation). RCV, Replacement Cost Value, is the cost to replace the property on the same premises with other property of comparable material and quality used for the same purpose. This applies unless the limit of insurance or the cost actually spent to repair or replace the damaged property is less. The only difference between the two is a deduction for depreciation. Both are based on the cost today to replace the damaged property with new property. Example: If your damages equal $10,000 with a deductible of $1,000, the Replacement cost value would be $10,000. In other words the insurance company pays $9,000 of the repairs and the customer pays $1,000 of the repairs.
Should I have a contractor meet with my insurance adjuster?
The short answer is, two sets of eyes are better than one. Black Hills Exteriors will represent YOU, not the insurance company. We are there to make sure everything gets covered and you get treated fairly.