What do my claim documents mean?

What each paper tells you

Your deductible

Your policy's declarations page, the summary at the front of your policy, shows the amount. It may be a set dollar amount or a percentage of your home's coverage, and some policies have a separate one for wind and hail.

The adjuster's estimate

After the adjuster's visit, your insurance company puts the covered repairs in writing, each with a quantity and a price. That written list of covered work is called the scope.

Replacement cost and actual cash value

The estimate gives two totals. Replacement cost value, or RCV, is what the covered work costs at today's prices. Actual cash value, or ACV, is the RCV less depreciation, the value the roof has lost to age and wear.

Recoverable depreciation

The estimate also shows how much depreciation is held back for now. Depreciation your policy pays back after the job is complete is called recoverable, and some policies set a time limit for finishing the work.

Non-recoverable depreciation

Some policies, often on older roofs, pay only the ACV for the roof. Then the depreciation is non-recoverable, and your policy's pages say whether this applies to yours.

A second name on the check

If your home has a mortgage, your insurance company may put the mortgage company's name on the check beside yours. Then the check needs both signatures, yours and the mortgage company's.

A supplement

Sometimes work the estimate left out turns up after the old shingles come off. Your roofer can then send your insurance company a supplement, a request with photos and prices to add that work. Your insurance company decides whether it is covered.

The completion documents

They show the work is finished and what it cost: usually the final invoice, often with photos. Your insurance company reads them before it pays any recoverable depreciation your policy allows.