After your claim has been approved, the insurance company will pay for the damages. You should receive your first check usually within 5-7 business days. This first check is called your ACV (Actual Cash Value), which is the monetary value of what is to be paid today based off the age and condition of the items. In some cases, if you are present during the inspection with the adjuster and the adjuster is an in-house adjuster, they will actually write you a check and hand you your paperwork on the spot. This check will be the value of the job less the value of the depreciation. Depreciation is based off of the age and condition of the damaged items. They take this money and hold it to make sure the work is completed correctly. In most cases the depreciation is recoverable. Recoverable depreciation is dependent upon the job being completed for the “Fair Market Price” the insurance company has estimated the job for or greater. Many homeowners never get the depreciation back because they chose the lowest bid or worked with a roofing contractor who doesn’t know how the insurance process works. Choosing the lowest roofing bid when insurance has estimated the value of the roofing repair or replacement would not get your roof fixed properly or completely. At My Town Roofing, we can handle the full repair, handle any related permits, scheduling, and coordination with your insurance company.