You will need to file a claim with your insurance company, they will do an inspection and write up an estimate of the Actual Cash Value (ACV) and the Replacement Cost Value (RCV).
ACV is the cash settlement (what your roof is worth) and the RCV is the total of what the insurance will pay after your roof replacement is complete.
Since your roof has already been approved, now is the time to decide if you want to hand off the whole project to a construction company or if you want to earn money organizing and implementing your own project.
If earning money on YOUR roof sounds intriguing to you, move along to step 3. If not, feel free to take a look at www.boundarywatersconstruction.com.
So you want to earn money as your own GC but don’t know where to start?
This is where Hire a Pro steps in. For a consulting fee we can help with insurance negotiation, a materials order list, putting you in touch with roofing crews, providing location-specific information for any permits needed, and provide an invoice template to send to your insurance company when work is complete.
A construction company or general contractor (GC) generally spends around 50% of what the insurance pays on the actual materials and labor involved in installing your new roof. The remaining 50% goes toward paying the salesperson/project manager, company overhead and the company’s profit.
By acting as your own GC, you are entitled to keep any remaining insurance funds that you earned after paying for the labor, materials, permits, and Hire a Pro consulting fee. In most instances this equates to several thousand dollars in your pocket for taking the time to manage the project yourself.
1) Sign the consulting agreement with Hire a Pro and pay consulting fee
2) Order and pay for all roofing materials and arrange delivery
3) File and pay for any necessary permit(s)
4) Verify all materials have been received upon delivery
5) Be available on the day of the build to get any other supplies that may be needed and to take inspection pictures
6) Pay Subcontractor (Roof install crew) and send the completed invoice to your insurance
Hiring a consultant and acting as your own GC seems like a no brainer, right? Here are some reasons why a person might decide to hand off the responsibility to a roofing/construction company.
1) They don’t have the time to manage their own project
2) The insurance company didn’t approve a full roof replacement from the start and additional inspections/larger negotiations are needed
3) Money isn’t a concern, so earning a few thousand dollars is not enough of an incentive to take on the GC responsibilities
