FAQ

Simple, no. The insurance company is paying for your restoration. The only cost is your insurance deductible.

Homeowner’s insurance does not act like auto insurance. If the premiums are raised, it is done in bulk for a given zip code, not individually. Insurance companies can only submit rate increases once per year. It is possible your rate may go up even if you do not file a claim.

The deductible is a portion of the money that the insurance company withholds from the total amount paid on a claim. The amount of the deductible varies based on the policy you selected. The deductible is paid to the contractor and cannot be waived, rebated, or absorbed per Florida Statue 627.701

The adjuster who inspects your home will provide an estimate for repair. Evolve Construction will review this estimate, if changes are needed Evolve Construction will provide the necessary required information to the
insurance company via a process called supplementing.

The insurance company determines the depreciation based on a combination of objective criteria (using a formula that takes into account the category and age of the property) and subjective assessment (the insurance adjuster’s visual observations of the property or a photograph of it). The insurance company will withhold depreciation as an incentive to get the property owner to complete the job correctly. You will be able to collect the depreciation held by the insurance company when the job is completed.

Actual Cash Value (ACV), also known as market value, is the standard that insurance companies prefer when reimbursing policyholders for their losses. Actual cash value is equal to the replacement cost minus any depreciation. (ACV= replacement cost – depreciation) and is the initial money you receive from the insurance company.

Replacement Cost Value (RCV), simply stated, means the cost to restore the damage to your property with materials of the same quality. RCV is the Actual Cost Value plus (+) the depreciated value. This is the total amount to which you are entitle when the job is complete.

During the repair to your property factors such as building code requirements, labor consideration, and additional material needs may be needed. Evolve Construction will present these needs along with appropriate documents to the insurance company in the form called supplement.

The mortgage company has a financial interest in your property and the insurance company may include the mortgage on any checks they issue you. If this is the case, you will need to communicate with your mortgage company to get them to endorse the check. Many times they will send you a packet of information explaining their endorsement policies. In the end, the mortgage company wants to ensure you abide to the pricing and scope of work approved by the insurance. Evolve Construction is ready with the proper forms and assistance to help you with this process.

On most insurance claims, Evolve Construction collects the full ACV check amount as well as your deductible, which allows us to order materials and start your project. Even though your insurance company will hold back funds to insure that Evolve Construction completes your project, your peace of mind throughout the project is our priority. This means Evolve Construction is open to discussing alternative down payment financing options.

No, because wind storms are considered to be an “Act of God” and the insurance company cannot penalize you for a natural event out of your control.

Of course! You will be able to get the same kind and quality.

Yes. Our gaurantee is that we will fix your property and bring it up to code with our awarding winning warranty for the final insurance proceeds or settlement. As part of all the major insurance carriers manage repair programs and preferred networks, we know how to work with your insurance carriers and desk adjusters to ensure your property is repaired and brought back to pre loss condition and we work off your insurance carriers scope of loss and estimate.

None! You actually have an obligation to file a claim upon discovery of any damage to your home to the insurance company.

Nothing, there is nothing owed to the contractor as no work is actually performed without their approval.

No, the insurance company establishes the cost of your project and will pay for the repairs accordingly.

Yes, most deductibles are $1,000 -$2,500 which is a lot less than it would cost to restore the home out of pocket.

An actual cash value policy is a new policy that some insurance carriers are beginning to offer in risk averse areas where the carrier only owes for the Actual Cash Value of the loss instead of the Replacement Cost Value of the loss (RCV).

Evolve Construction will review your insurance estimate and compare it to what is actually damaged on your property.  If there are changes to be made, Evolve will submit photographs and a “claim supplement” to the insurance company on your behalf.  Evolve will engage in discussions with the insurance company in an effort to gain you additional coverage. The insurance company has the final say and will communicate changes by way of a new estimate and/or a supplemental check made out to you.

Evolve Construction has partnered with multiple Public Adjusting firms across the country and we work hand in hand with your PA or Attorney to help settle the claim efficiently and fairly.

Evolve Construction requires a down payment of 30-50% of the job or the initial insurance check, whichever is less. You ALWAYS retain the majority of the insurance money to protect yourself as a consumer. Never pay a contractor with personal funds. Deposit insurance funds and always use  those. We can also assist in getting your check properly endorsed through 3rd parties or your mortgage company.

Yes. Speak with your sales representative, we may be able to offer you referral or advertising  incentives.