Description: This passage is mainly about liberty mutual login. In this passage, we can know how to read a Roof Claim Summary from one of the clients who happens at Liberty Mitchell for the insurance.
I’m Teresa with integrity roofing and painting, today we’re going to look at a claim summary from one of our clients who happens at Liberty Mitchell for their insurance, some of the things that we’ll look at on the coin summary will be the cover sheet and the summary pages, we’ll also want to take a look at the replacement cost value in the actual cash value that included in the claim.
We’ll go through line itemization and we’ll look at the special feature that’s in the Liberty Mutual Safeco clients club called MRP, some of the items are important to understand when you are looking at your claim, they are the replacement cost value and the actual cash value, the replacement cost value is the full amount for the replacement of that item.
In this case, it will be the roof, the actual cash value is what the insurance company gives you to start the process to get the job started, it’s important to reduce the deposit to you, there’s what is removed from the replacement cost value to achieve the actual cash value, it’s a deductible and the depreciation.
The depreciation that you will get at the end of the job is recoverable at most of the time, one of the features of the Liberty Mutual Safeco club is different from some of the other companies in their MRP and their managed material program, it’s a coop that they have used in reference to lower the price of the materials.
In the Colorado Springs area, we don’t have access to this particular coop and I’ve been able to do the research to confirm that, so it is something that often needs to get adjusted, when you have this in your particular claim, as you can see on this Liberty Mutual claim summary, this is the summary page, it’s generally the first page that they give you.
The insured information is on the top and the adjusters information is listed below that, an important place to look will be your claim number, that is a reference point for all claims and hit correspondence with the insurance company down below, you’ll see that this item doesn’t seem to be a very important part, but it’s important to know when the estimate is generated.
This will tell you that it was in Colorado Springs in April 2017, the price list is changing monthly, so this is a good reference point to know if the prices are up today, this is more or less the most important page for your roof for the claim summary, you can see that it’s a spreadsheet similar to excel
But difference is that using the Xactimate program at the top, you can tell the dwelling refers to the house, that’s the main house, anything that’s not attached to the shed or greenhouse or fence will not be included in this section, under the dwelling, the roof usually is the first thing that they will list.
If you look across the top, you’ll see that the description referring to the item is being replaced, a quality is amount that they’re going to replace a 22-point 10 squares which is two thousand two hundred and ten square feet, because each square is a hundred square feet, the unit price changes per month.
They do the research to adjust this monthly, return to the price list and my previous comment, the estimate amount is a subtotal, this column is something that is used on Liberty Mutual and some of the other claim summaries, this is the additional, there’s a note at the bottom that will tell you what’s included in this.
Often it’s the tax for the material cost, it’s the overhead and profit any base service charges or labor minimums will be included, and in this column, that goes down the page, the replacement cost value is a very important column, it details the full replacement cost of the item and each one of these line items is listed here.
The subtotal is down here at the bottom of this particular section, the depreciation is based on the age of the roof, this final column is the actual cash value and this is the amount that the insurance gives you to get the project started, one thing to note on Liberty Mutual and Safeco is that they use a MRP price of a ride on their materials.
This is something that has to be addressed with them, it’s not available in the Colorado Springs area, you can see that they itemize them, so the roof, the drip edge, the flashing, the fence and each item are listed by quantity, there’s no rounding up, there’s no estimating its exact units and the price changes monthly.
So this is the subtotal plus the taxes which gives you this item and which your replacement cost is, so I can look at this and know that the roof replacement for the house, it’s going to cost seven thousand eight hundred and forty eight dollars and forty six cents, if you look down a little bit lower on the claim summary, there’s another section that is still a roof replacement.
But this time it’s not on the dwelling, it’s on the shed, so they have separated this out and made it a separate section with different line items, so you’re still removing and replacing the shingles and the vents and the derivative in the felt, and the items are only referring to the shed, so if you refer, if you look across your columns, you can go to the top.
Then scroll down and you’ll see that the replacement cost for the roof, on this particular shed, it is two thousand two hundred and thirty nine dollars and ninety three cents, and when you total the roof replacement for the house and for the shed, it comes out to this grand total at ten thousand eighty $1.39.
The only thing missing here will be the permit and any additional items, if they have mismeasured or missed counting, those items will be added to the page as well, that’s accompanying the crime summary, it will give you the totals of the dwelling too that any other depreciation totals give you in the deductible.
So you can see the amount of the first check, the insurance is going to give you all claim summaries that work slightly differently, but if you refer back to your summary page either in the first or the end of your claim summary, you’ll see that, you’ll have your totals here for quick reference.