Insurance Assistance

Insurance Assistance

No Need To Worry...

We understand that when you have something catastrophic happen to your home you become worried and stressed! NO NEED - We’ve got your back! We have the knowledge and tools here at TNHI to make sure this is a stress-free process for you. We will work with your insurance company from the time they come out to do the first adjustment to the very end correspondence. We have been doing this for over 30 years and will represent you in every way necessary. When it comes to doing the tedious paperwork, we never want you to feel like it’s overwhelming, that’s why we do it! At the end of the day we just want all of this to be something that you don’t have to worry about. Put the stress on us, that’s what we are here for after all!  

Below we have listed the process in which an insurance claim works and what the words you’re going to be reading mean! We want you to feel educated every step of the way! If you have any questions regarding the insurance process, please fill out the form below and we will get back with you as soon as possible. 

Homeowner’s Insurance Damage Reporting Process: 

1. Call your Insurance agent and report the date and type of damage your home received. 

2. The Insurance company will have an adjuster contact you to set up a time to come to your home to assess the damages. 

3. At this time please call Todd Nichols Home Improvements so we can be there to assist the adjuster and represent YOU.
 
4. Typically, it will take 2-3 weeks to receive a “Summary of Loss” from the insurance company. This will list what repairs that the insurance company is paying for and the dollar amount that is to be paid. 

5. Once the summary of loss has been received you will enter into a contract with Todd Nichols Home Improvements stating what work shall be done to your home, and the cost of the repairs in which will be equal to the summer of loss. 

6. After signing the contract with Todd Nichols Home Improvements, we handle all of the paperwork and correspondence with your insurance company and/or mortgage company as needed. 

Definitions You Need to Know: 

  • Replacement Cost Value: 
    • The total amount of the insurance estimate for repairs to your home. 
  • Depreciation: 
    • The amount that the insurance company holds back based on the age of the materials on your home. 
  • Actual Cash Value:
    • The amount the insurance has deemed your materials are worth at this point in time
  • Deductible:
    • The amount of money that is subtracted from the actual cash value leaving the net claim. Homeowners are responsible for the payment of the deductible in order to receive full replacement cost. 
  • Net Claim: 
    • Net claims are the amount left after the deductible and depreciation have been subtracted from the Actual Cash Value. (FIRST CHECK) 
  • Recoverable Depreciation:
    • If all work is completed and deductible is satisfied this amount will be released to the homeowner. (SECOND CHECK) 
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NEED A LITTLE HELP?

We get it, big home repair projects like these can make you cringe! Whether you need a new roof, new siding, windows, interior work, exterior work any project big, or small We’ve got you covered! Literally and figuratively, Pun Intended 😊. At the end of the day we know things can get stressful; it is our goal to alleviate some of that stress for you. Todd Nichols Home Improvements offers affordable financing with low monthly payments through Service Finance to help you keep your piece of mind and money in your pockets.
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