Navigating Insurance can be a chore.

Rapid Refurb can guide you through the whole process.

Claims Process

  • When you File: Your home is damaged due to water, fire, or restorative mitigation, you’ll need to file a claim with your insurance provider.

  • Field Adjuster: After filing, the insurance company may send a field adjuster to your home to assess the damage and estimate the cost of repairs.

  • Desk Adjuster: A desk adjuster will review the field adjuster’s report and work with you to determine the final settlement amount.

  • Claim Process: You’ll collaborate with the adjuster and your insurance company to agree on the compensation for repairs or replacement of your belongings.

    This is where Rapid Refurb steps in, we will prepare our own repair estimate, submit it to your

    insurance, and work on your behalf in negotiations with the insurance to ensure you are fairly

    compensated for needed repairs

  • Settlement: Once an agreement is reached, the insurance company will issue a payment, minus your deductible, to cover the costs.

Deductible sample — $10,000 settlement from insurance

Home owner— $1000 deductible Home owner pay’s this portion out of pocket to contractor.

Insurance will send—$9000 settlement to Home Owner

Repair and Restoration

  • Repair Contractor: You receive the settlement or agree to pay out-of-pocket, recommended for fastest possible timeline of repairs, knowing you will be receiving a settlement from insurance in the future you can hire a contractor to repair or restore your home.

  • Schedule date to begin repairs: Rapid Refurb works hard to always guarantee you will not have to wait longer than 2 weeks from the time you secure your payment and notify us.

  • Reimbursement: If you’ve paid out-of-pocket for temporary repairs or replacements, keep receipts for possible reimbursement from your insurance company.

Review and Understand Key Insurance Terms

ACV (Actual Cash Value): This represents the value of your property at the time of loss, factoring in depreciation. It’s the amount it would take to repair or replace an item, minus depreciation.

RCV (Replacement Cost Value): The amount it would cost to replace damaged or destroyed property with new items of similar kind and quality, without deducting for depreciation.

Deductible: The amount you’re responsible for paying out of pocket before your insurance coverage starts to pay for a claim. The deductible is subtracted from your claim payment.

Field Adjuster: An insurance representative who visits your property in person to inspect and assess the damage or loss, providing a report that helps determine the amount of compensation.

Desk Adjuster: A claims adjuster who works from an office and handles claims remotely, reviewing reports and documentation to settle claims.

Settlement: The agreement reached between you and your insurance company on the amount of money that will be paid out for a claim. This payment covers the cost of repairs or replacements as outlined in your policy.

Settlement Statement: A detailed document that outlines the final amount the insurance company agrees to pay for a claim, including how the amount was calculated and any deductions like your deductible.

Understanding these steps and key terms can empower you to manage your homeowners insurance claim effectively, ensuring that your home and belongings are restored with as little stress as possible. If you ever need assistance with repairs or restorations, remember that Rapid Refurb is here to help.

Repairing homes 〰️ Removing stress 〰️ Reclaiming futures

Selecting the right repair contractor can be the difference between waiting weeks and months before your home is restored.