Frequently Asked Questions (FAQ)

Insurance Claim


(FAQ) What do I do if I want to file an insurance claim for Storm Damage? policy?

Proving an insurance loss is the responsibility of the insured. It is critical many times to contract with a General Contractor prior to an insurance adjuster evaluating your property. The insurance company adjuster is not required to find damage, just because you experienced hail or wind, or your neighbor experienced storm damage.

A representative of M&K Restoration will meet with your insurance adjuster on-site, and identify all storm damage in order to assure the most favorable decision. There is no cost for this service as long as you have signed a contingent contract with M&K, contingent on M&K Restoration getting the insurance company to pay for your storm damage. Contracting for insurance proceeds allows us to offer our professional expertise at no additional cost.

M&K Restoration understands the entire insurance process and is willing to assist you in dealing with the details of your claim. M&K will complete the paperwork for recoverable depreciation, obtain endorsements from mortgage companies on insurance proceeds checks, file supplemental claims when necessary and most importantly, wait for the insurance company payment.

 


(FAQ) What kind of materials do I need to use for an insurance loss claim?

Repairing damage to your property with equivalent material and quality is required and expected by your insurance carrier and mortgagor, if applicable. We utilize the insurance adjustment to define the scope of work to ensure proper replacement and repair. The insurance adjustment, along with the contract, defines the scope of the project. When having work done on your home, it is imperative that you know exactly what will be done and how much it will cost. Often, when making repairs to a storm-damaged home, other necessary repairs, additional work, and their associated expenses can become apparent after the work has begun. In most cases, when working for insurance proceeds, M&K Restoration can contact the insurance company adjuster for supplemental claims. Under this scenario, your out of pocket expense from us will never change.

 


(FAQ) What is my cost for an insurance loss?

With an insured loss, the insurance company will pay up to their settlement figure as long as you provide an invoice under the company’s guidelines. If you choose a company that gives you a low estimate and provides standard work, the insurance company will pay only the amount of the low estimate. If you choose a quality-conscience company that will provide the best roof using quality materials, and up to date roof accessories, the insurance company will pay their final bill, as long as it does not exceed the adjuster’s estimate. In other words, whether you get a cheap roof or a roof with all of the accessories by a quality company, your cost is only your deductible.

Our friendly and knowledgeable customer services reps are available to answer your questions 24/7/365.

 


(FAQ) What is Recoverable Depreciation? 

Recoverable Depreciation is the amount withheld by the insurance company until the work is completed. Once the work is completed, an invoice is sent to the insurance company so that the recoverable depreciation can be released to the policyholder.

Note: As most insurance carriers initially pay the actual cash value, recoverable depreciation is only paid up to the actual amount of the contractor’s invoice. Why sacrifice having a quality, conscientious, and professional contractor who will be there when you need him in order to save the insurance company a few dollars?

 


 

General Inquiries


(FAQ) What if I find a bid lower than M&K Restoration's?

Make sure you are getting fair and responsible pricing. As we all know, there is always someone who will do it cheaper. M&K Restoration does continuous cost information sharing with the insurance companies and is always aware of current pricing. Insurance companies do continuous research in the ever-changing costs for repair and replacement in order to pay the lowest and fairest cost to their insured. The insurance company expects you to use a professional quality contractor that can do replacement work in a timely manner, pay all bills promptly to avoid material and mechanic liens, provide quality communication and service during the process, and ultimately warrant all work. Insurance proceeds typically provide sufficient compensation for a professionally managed contractor to provide proper service to its clients.

 


(FAQ) Do you require money upfront to start the work? 

There are no deposits required when M&K works for insurance proceeds. Once a roof is substantially complete, a payment equal to the actual cash value and deductible is due. The final payment is not due until all insurance proceeds have been received by you. If you have signed a cash contract, no payments are due until the work is complete.
All payments are subject to your contract terms.

 


(FAQ) How do I choose a reputable and professional contractor?

In the event, your insurance carrier has determined you have a valid claim and you have your check, you have the opportunity to interview various contractors and receive competitive proposals. It is imperative that you base your decision not only on the value received but also the reputation and professionalism of the contractor.

Our friendly and knowledgeable customer services reps are available to answer your questions 24/7/365.