Weather in Colorado can be quite unpredictable. When catastrophe hits, solicitors can seem like a nuisance. New Line Roofing is a professionally trained company ready to provide you with a Free Inspection and assess your damaged property. Here's how it works.
RCV stands for Replacement Cost Value, which includes replacement cost coverage . RCV is the current retail cost to replace your damaged items.
ACV is the Actual Cost Value. Cash value ACV coverage pays you what the property would be worth today. For example, assume a roof was installed 10 years ago with an expected 20 year life then damaged in a hail storm. The cost to replace the roof is $10,000. Then RCV would be 10,000 and the ACV would be $5,000 (10/20th of $10,000). The difference between the two, $5,000, is the depreciation which are additional funds you will receive when a new roof is installed. Generally depreciation is paid after you or your contractor submits a final invoice.
If you do not know what kind of policy you have, contact your company and ask. Most homeowners have the RCV policy and the insurance company will pay for the replacement, minus your deductible. If you have an ACV policy, your premium is lower but you will only recieve a check for the ACV and you’ll have to pay out of pocket the deductible plus the difference between ACV and RCV which is called “Non-Recoverable Depreciation” on the claim document.
Planning on buying a home in the future? We recommend you research a few different insurance quotes based on what suites you best.
Quality Commercial, Residential & Flat Roof Repair Services
Most roofs have some type of wear and tear to them. Whether you have a flat commercial roof or an asphalt shingle residential roof, New Line Roofing features expert roof repair services for our clients in the Denver area.
Get in touch with New Line Roofing today to schedule a complimentary inspection and estimate for your multi-family roofing needs at (303) 222-7170. You can also reach us through our contact form online. When you need a premier roofing contractor in the Denver area, you can count on us!Contact Us Today (303) 222-7170
New Line Roofing is proud to be a GAF and Owens Corning certified roofing company in Denver. We also maintain an A+ rating with the Better Business Bureau and are fully licensed and insured. All of our technicians are trained and certified, so you will know that no matter what project you have us out to do, our crews will get the job done right!