How it works.
Once we have a service agreement in place we determine the best route to manage your projects. Some of our clients utilize project management software, such as Acculynx, that allow us to be a user on their system so we can send notifications of depreciation/supplements through the system. For our other clients we utilize a wide range of cloud based storage services allowing our clients to access their project folders from any smart phone or computer 24/7.
What is an Insurance Supplement?
In many cases, a supplemental insurance claim is necessary to cover additional repairs that were not first included in the original estimate. Claims Connection is dedicated to ensuring that your company correctly prepares all supplemental estimates required for your client's to receive full compensation for the damage to their home or property. In other cases, a supplemental claim may be necessary if the price of repairing the damage to your client's property has changed. For example, the cost of material or labor may increase over the course of a long-term repair. Thus, a supplemental claim will be necessary for your client to receive the full benefit of their insurance policy.
If you have handled any roofing or restoration insurance jobs you know there is always the issue of sending a request to the insurance company for the release of your client's depreciation. This process can be time consuming preparing your certificates of completion then sending them to the insurance company. Then you must spend additional time calling and emailing the adjuster requesting the status of release of your client's depreciation. What we do at Claims Connection is prepare all of your certificates of completion, send them to the insurance company and continue to pressure the insurance company to release depreciation.
What is Depreciation?
Your client's home and most of its contents, such as a television, washing machine and roof, may lose value over time due to factors such as age, wear and tear, and obsolescence. This loss in value is commonly known as "depreciation." Under most insurance policies, claim reimbursement begins with an up-front payment for the actual cash value of damage, or the value of the damaged or destroyed item(s) at the time of the loss. If your client has replacement cost coverage included on their policy, they may be able to receive additional money to cover the depreciation of these items. If this is the case, reimbursement may involve two or more payments – one for your initial payment based on the actual cash value of your items and then additional payment(s) once they repair and/or replace the damaged or destroyed items and provide their insurance company with documentation.
Our team of qualified insurance specialists know how to properly prepare and file supplements on your behalf. Once you sign up a new insurance repair project send in the insurance paperwork prior to completing the project. Your assigned specialist will do a complete review and prepare a supplement to file with the release of depreciation once you complete the project. Most of the time the original adjuster miscalculated something in the estimate.