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What is the Insurance Restoration Process?

Going via a professional restoration company for restoring your home or office space after a disaster is a prudent decision because the company will take care of the tedious insurance restoration process. 

When a disaster strikes, all you want is to have a great restoration experience, which only a licensed company can offer. All licensed providers are tied up with the state’s major insurance service providers, besides having connections with the local authorities, interior decorators, and other renovation experts. This will enable you to have a perfectly restored house in much lesser time and cost than anticipated. 

However, no matter whom you consult with, it is important to familiarize with the insurance restoration process and prepare yourself.

Why Should You Choose a Certified Restoration Company 

Licensed restoration companies comprise of specialists who go through training to identify the type of damage caused and the severity of damage through thorough inspection and analysis. The inspection will help you decide whether an insurance claim is required or not. 

Whether you suffered a hurricane, tornado, smoke damage, or other tragedy, these pros can help you.

Step 1: Initial Inspection of the Building

The technicians will reach the location within a stipulated time and start inspecting the building. They will analyze the damage to find out if the damage warrants an insurance claim. The inspection must be meticulous and thorough. 

Step 2: File a Claim with the Insurance Provider

If the damage calls for an insurance claim, you will file a claim with your homeowners’ insurance company. You have to call up the customer support and inform them about the date and time of the damage, along with the required details. Remember to click pics for proof of damage. The restoration company can file the claim on your behalf, as well.

Once you receive the claim registration number, pass it on to the restoration firm along with the adjuster’s name and contact details.

Step 3: Schedule an Inspection

After receiving the number, the professional restoration company will then contact the claim adjuster and fix an appointment for an inspection at your home. Once the insurance agent arrives, the restoration representative will share his analysis, such as the level of damage, the part of the building where the damage is serious, the number days it would take to restore the property, and the estimated cost for the repair. 

Step 4: Reviewing Cost of Estimation 

If the scope of work is clear, the insurance agent will approve the claim and once it is approved, the company will mail you the estimated cost of restoration. This could take anywhere between 7 and 21 days based on the efficiency of the insurance service provider.

Step 5: Receiving the Insurance Check

The insurance service provider will hand over the insurance check to you based on the generated claim value. The remediation specialist will then assist you in buying the new building materials for restoration from the provided claim amount. 

Most insurance companies pay the amount in two parts. You’ll receive an ACV (actual cash value) check and a deprecation check, once you finish the project.

Disaster can strike your home without warning. Knowing how to respond is key to recovering from the damage.

Step 6: Start the Work

You may have to spend from your pockets to procure the building materials before you receive the deprecation value. You can start renovations once you purchase the materials for the job. The renovation may take from few days to several weeks based on the severity and type of damage. 

After the project is done, the head of Restoration Company will inspect the renovation to ensure the protocols were strictly adhered to (typically, a 33-point quality-check). Clearing, cleansing, and disinfection will follow next. 

Step 7: Final Settlement

Thereafter, the renovation company will mail a copy of the incurred bill to the insurance service provider and you.  Upon receiving, the insurance company will settle the remaining amount (deprecation value).

The Bottom Line: The Insurance Restoration Process Is Not as Complex as it Sounds

Navigating the insurance restoration process after a disaster is time-consuming. While it takes a lot of patience, it is not a difficult thing to do. Keep good notes along the way in case you need them for reference. And best wishes on getting your home set back to rights.

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