ROOFING PACKAGE DEAL FULL STUDY
SHEET QUESTIONS AND CORRECT
ANSWERS COLLECTION
●● ACV Check
Answer: The FIRST check from the insurance company;
Replacement Cost Value(RCV) minus Depreciation. + the deductible =
ACV amount
●● RCV
Answer: Replacement Cost Value;
The total cost to repair the damaged property with the same materials &
quality without the deduction of depreciation.
●● RCV Check
Answer: LAST check received after work is completed on house &
insurance company receives the NOC (Notice Of Completion) from us.
***The check is sent to customer. Have them deposit that check in their
bank account & write a personal check to Rock Roofing LLC. ***
●● ACV
Answer: Actual Cost Value;
,The amount = to the replacement cost minus depreciation of a damaged
property at the time of the loss.
The actual value for which the property could be sold, which is always
less than what it would cost to replace it.
●● NOC
Answer: Notice Of Completion;
Final adjusted RCV price for the damage to the home. This is sent to the
insurance company after the build is complete. The
Credits are deducted from the original price. EX: Didn't do siding, we
credit them that ACV amount.
●● Scope Of Loss
Answer: AKA Insurance Estimate;
The first estimate given to the homeowner once their claim is approved.
●● AOC
Answer: Assignment Of Claim;
Form that assigns an insurance claim & all the rights of the claim.
(specifically the payment from the insurance carrier)
●● Appraisal
, Answer: An alternative dispute resolution when the carrier &
homeowner do not agree on the amount of the loss. This is an alternative
to a lawsuit.
●● Supplementing
Answer: A supplement on a roof claim is when your roofing contractor
asks for additional materials, labor, and/or trades to be added to your
insurance claim. This usually happens when the insurance adjuster didn't
include enough shingles, siding, or other materials on the scope of loss
to get the job done.
●● Claim
Answer: First step in the Insurance claim process. Request from Rock
Roofing to the insurance company for coverage of the damage. We
provide pictures for proof.
●● Hover Report / EagleView Report
Answer: Report taken by the salesman for the job. Pictures of the home
are taken & dimensions are uploaded into PDF form. We use this to give
updated prices & dimensions to the insurance company.
●● Claim Number
Answer: AKA Policy Number.
Very Important Number; Assigned to each homeowner. You need this
number to communicate with insurance.
SHEET QUESTIONS AND CORRECT
ANSWERS COLLECTION
●● ACV Check
Answer: The FIRST check from the insurance company;
Replacement Cost Value(RCV) minus Depreciation. + the deductible =
ACV amount
●● RCV
Answer: Replacement Cost Value;
The total cost to repair the damaged property with the same materials &
quality without the deduction of depreciation.
●● RCV Check
Answer: LAST check received after work is completed on house &
insurance company receives the NOC (Notice Of Completion) from us.
***The check is sent to customer. Have them deposit that check in their
bank account & write a personal check to Rock Roofing LLC. ***
●● ACV
Answer: Actual Cost Value;
,The amount = to the replacement cost minus depreciation of a damaged
property at the time of the loss.
The actual value for which the property could be sold, which is always
less than what it would cost to replace it.
●● NOC
Answer: Notice Of Completion;
Final adjusted RCV price for the damage to the home. This is sent to the
insurance company after the build is complete. The
Credits are deducted from the original price. EX: Didn't do siding, we
credit them that ACV amount.
●● Scope Of Loss
Answer: AKA Insurance Estimate;
The first estimate given to the homeowner once their claim is approved.
●● AOC
Answer: Assignment Of Claim;
Form that assigns an insurance claim & all the rights of the claim.
(specifically the payment from the insurance carrier)
●● Appraisal
, Answer: An alternative dispute resolution when the carrier &
homeowner do not agree on the amount of the loss. This is an alternative
to a lawsuit.
●● Supplementing
Answer: A supplement on a roof claim is when your roofing contractor
asks for additional materials, labor, and/or trades to be added to your
insurance claim. This usually happens when the insurance adjuster didn't
include enough shingles, siding, or other materials on the scope of loss
to get the job done.
●● Claim
Answer: First step in the Insurance claim process. Request from Rock
Roofing to the insurance company for coverage of the damage. We
provide pictures for proof.
●● Hover Report / EagleView Report
Answer: Report taken by the salesman for the job. Pictures of the home
are taken & dimensions are uploaded into PDF form. We use this to give
updated prices & dimensions to the insurance company.
●● Claim Number
Answer: AKA Policy Number.
Very Important Number; Assigned to each homeowner. You need this
number to communicate with insurance.
