Insurance Claims Process
Benchmark Exteriors Insurance Claims Process
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Insurance Claims Process
Learn About the Insurance Claims Process
The professionals at Benchmark Exteriors are experienced in the insurance claims process on wind and hail claims. Below is an overview of the insurance claim process. Call us to schedule an inspection or request a virtual consultation today.
Schedule An Inspection
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Loss Report and Initial Payment
Sometime after the insurance adjusters inspection, they will contact you to discuss the loss report. Ask the adjuster to email a copy to you. Then schedule an appointment with your field rep at Benchmark Exteriors to review the loss report and ensure that the scope of work is correct. The insurance carrier will also release the first payment so the work can be scheduled and started. This payment is called the ACV payment.
Installation
Permits are pulled, the material is delivered. Now, we install! After installation our crews and field rep will do a thorough clean up of all the debris and then conduct a final sweep using magnetic rollers to pick up any leftover nails.
Depreciation and Supplement Release
Upon completion of the project Benchmark Exteriors will submit all necessary paperwork and documentation to get the depreciation released and any additional withheld payments.
Supplement Process (If applicable)
If we encountered additional work that needed to be done on the approved loss report, and it was not covered under the current loss report. Our Supplement and Fund recovery department will submit an updated loss report to your insurance carrier.
File A Claim (if the damage is found)
Our field representative will assist you through the steps on filing an insurance claim from the recent storm event
Adjustment Appointment
After the claim is filed an insurance adjuster will typically contact you within 48 to 72 hours and schedule a date and time they will visit the property to assess the damage. You will then relay this information to your field representative at Benchmark Exteriors. We must be on-site during the insurance adjusters inspection, so we can make sure that all damage to the property is properly documented and not overlooked.
Material and Color Selection
After confirming the loss report is correct, the fun part begins! You get to choose the material and color of the products that Benchmark Exteriors is going to install on your property.
Material Delivery
Your Benchmark Exteriors field rep will contact you with the delivery date of the material. Please ensure that your driveway or designated area is clear for material delivery. After the material is delivered your field rep will check in the material and ensure everything was delivered as ordered.
Final Payment and Warranty Activation
Once you receive the remaining funds from your insurance carrier you will schedule an appointment with your Benchmark Exteriors field rep to pick up the final payment and sign a certificate of completion that will activate your warranties.
Insurance Keywords
ACV (Actual Cash Value)
The repair or replacement cost of the damaged part of the property less depreciation and deductible.
RCV (Replacement Cost Value)
Estimated cost to repair or replace damaged property.
Deductible
The amount paid out of pocket by the insured to the contractor.
Supplement
Additional line items that were not covered under the initial estimate.
Depreciation
The decrease in the value of the property of a period due to wear, tear, condition, and obsolescence. A portion of this amount or all of this amount will be withheld until the project is completed.
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