1. We provide on-site consultation while representing your rights when processing your loss with the insurance adjustor.
2. White Oak is recognized as a Preferred Service Provider in the insurance industry.
3. We are State Licensed in residential and commercial construction. We retain full-force coverage for liability and worker’s compensation coverage for all employees and for the property during the repair.
4. All White Oak employees participate in the Tennessee Drug Free Workplace Initiative, meaning that we maintain a drug free/ zero tolerance workplace policy. This policy ensures that our staff always uphold White Oak’s core values and remain mentally & physically equip for the work ahead.
5. All employees have completed TBI background checks.
6. Since we are customer driven, our workmanship is 100% guaranteed for 1 year.
7. We have free full-time claims managers to help you through the administration process of filing an insurance claim.
8. We understand and respect the emotional bond you have with your home.
9. Complete restoration services are offered using estimating platforms accepted by all insurance companies. We meet with your agent and adjustor and process your entire home repair claim. Our estimates agree with industry standard charges for any type of home restoration.
10. Our employees and subcontractors are recognized experts in:
• Water extraction and dry down.
• Personal content cleaning and climate -controlled storage when required.
• Smoke cleaning and ozone treatments.
One’s past performance record stands as an integral part of any business. Over the last 34 years, White Oak has built hundreds of custom homes and successfully completed over 2,400 insurance restorations. We have provided the following information for review in hopes of helping you move forward with your insurance loss.
You are about to embark on what could be a very difficult time in your life, but we have the ability and resources to make your situation much easier. You have suffered an insurance loss- it is now time to address the situation.
LET’S GET STARTED!
First of all, who are the players? What do the terms mean?
1. You are the POLICY HOLDER, the client the property owner.
2. Your AGENT is the one who sold you the policy. Agents represent various insurance companies. They are marketing and sales experts who professionally represent various products offered by insurance companies.
3. The INSURANCE COMPANY is the one who issued the insurance policy and is the one who will have to pay for the damages.
4. The ADJUSTOR is an employee of the insurance company who is to determine if the loss you have suffered is covered by the insurance policy and what the cost will be to repair the loss.
5. The INSURANCE POLICY is the document that creates a legal contract between you and the insurance company. The insurance policy clearly defines the coverage and reimbursement policy of the company who issues the policy.
6. There are several types if COVERAGE. The Coverage of the insurance policy determines what will be repaired or reimbursed by the insurance company. The two main types of coverage are PROPERTY and CONTENTS:
7. a) PROPERTY COVERAGE is the coverage that pertains to the physical structure of the home. It may also pertain to any permanently attached items; b) CONTENTS COVERAGE pertains to your personal property such as furniture, clothes etc.
8. DEPRECIATION is the amount that may be deducted from your coverage by the Adjustor due to the age or condition of the property.
9. RECOVERABLE DEPRECIATION is the amount held back by the Adjustor until the property is repaired back to its original condition, and then paid to the policy holder.
10. THE CONTRACTOR is the company who will make the repairs to the damaged property.
11. THE SCOPE OF WORK is a very detailed description of exactly how and what will be repaired and what the insurance company deems is a reasonable cost to complete the repairs.
12. THE BIDDING PLATFORM is the insurance recognized computer program that converts the scope of work into a dollar amount that the Adjustor is willing to pay.
13. THE LABOR COMPONENT is the amount the Bidding Platform determines is a fair amount to pay a tradesman for a certain repair.
14. THE MATERIALS COMPONENT is the amount the Bidding Platform determines is a fair amount to pay for the damaged property.
15. THE BID provided by a contractor should include the scope of work to be performed and the amount the contractor will be paid to repair the house. This amount should be the same as what the insurance company agrees should be covered by the loss.
16. The AGREED PRICE is the amount of the bid that the Adjustor and contractor have both agreed is a fair price to repair the property. All AGREED PRICES should include a detailed scope of work and define the materials and labor components of the scope work.
17. THE DECUCTIBLE is the amount the policy holder (homeowner) will have to pay before the coverage of the policy begins. An example of this would be something like this:
A homeowner has a tree hit their house. The total cost to repair their home is determined by the adjustor and the homeowner’s contractor to be $10,000.00. This $10,000.00 becomes an agreed price. The homeowner has a $500.00 deductible. The homeowner authorizes the contractor to make the repair. Once the repair is completed the homeowner pays the first $500.00 of the cost (The Deductible) to the contractor and the adjustor pays the remaining $9,500.00 of the cost to the contractor for a total payment between the two of $10,000.00.
18. SUPPLEMENTS – additional scope of work added to the original scope of work, and paid for by the insurance company. These supplemental additions are typically not known at the time of the original scope work was created.
19. THE WORKMANSHIP GUARANTEE is the guarantee the contractor offers the homeowner on the repairs that have been completed by the contractor.
Note that Contractors should always be strong advocates for the homeowner throughout the entire repair process.
As previously addressed, an important aspect of any business stands as its past record of performance. With over 30+ years of experience constructing hundreds of custom homes and more than 2,400 insurance restorations, White Oak’s track record speaks for itself.
We hope that this information assists you in moving forward with your insurance loss.
Contact us now at 865-379-8044 or drop us an email at email@example.com for more information.