When there’s substantial damage to your home, you need reconstruction services to help get it back to a livable condition. Fires, floods, and other natural disasters can destroy a house and leave you without a proper home. Thankfully, many homeowner’s insurance policies offer insurance for reconstruction in Waterbury. With the right policy and preparation, you can get the money you need to have your home restored and repaired.
Reconstruction vs. Repair
When dealing with your insurance company and submitting a claim, you’ll need to specify whether the services needed are for repairs or reconstruction. Repairs are services done for small issues and don’t require as much time or money to perform. Reconstruction services cover larger issues that often make the home unlivable. Repair coverage is generally less than reconstruction coverage because the repair work isn’t as extensive. Reconstruction work, however, aims to bring your home back to its original condition, which can get pricy.
Types of Insurance for Reconstruction in Waterbury
When submitting an insurance claim, your policy will fall under one of two categories for home reconstruction. Having a qualified and insurance-recommended restoration company survey the damage and provide you with a full inspection report can help you get the most out of your claim from the start. However, how much you can get will still depend on your specific policy.
Replacement Cost Value
A replacement cost value (RCV) policy can be either extended or guaranteed. Both policy types are designed to help you rebuild your home back to original condition. This means reconstructing your home using the same types of materials and design features. An extended RCV policy will allow you to restore your home to its original conditions, but only to a certain amount, depending on your policy specifics. A guaranteed RCV policy, however, has no limits and allows homeowners to fully reconstruct their homes to their original conditions, no matter the cost.
Actual Cost Value
An actual cost value (ACV) policy, on the other hand, will take into consideration the actual value of your home. It includes depreciation unless you have an inflation protection clause and often means a lower payout. While it can be a cheaper option for your insurance premium, it doesn’t provide the full coverage you need to properly reconstruct your home after severe damages.
Help with Insurance for Reconstruction in Waterbury
At ServiceMaster Albino, we’re proud to be a trusted home restoration and repair company among many insurance companies. Our reputation and relationship with insurance companies allow us to help our clients get the best coverage for their home restoration or repair. Insurance for reconstruction in Waterbury can be complicated, but working with an insurance-recommended restoration company can help. If your home suffered damages and you need help getting it back to its original condition, give us a call at 203-753-0666. We’ll work with you and your insurance company to help your home get back to pre-loss conditions.