Insurance Claims 101

Everything you need to know about roofing insurance claims

STEP

1

Before you file a claim

If you think your roof or property has been damaged by a storm, contact a reputable company, like Endeavor Exteriors, to come out and give you a pre-inspection report. At this point, you are not filing a claim, just starting the information process. Using a reputable contractor will ensure that any work done is the highest quality with the best warranties.

STEP

2

Meet with your contractor

Next, schedule an inspection with the selected roofing contractor. You want to do this before an actual claim is filed. The damage may not be as great as you think. If it is less than, or close to, your insurance deductible, filing a claim may not be in your best interest. Filing unnecessary claims may cause your insurance company to raise your rates or even drop your policy.

STEP

3

File your insurance claim

If the contractor’s estimate for repairs warrants filing a claim, do so now. Your insurance company will most likely schedule an adjuster to inspect your roof to approve and process your claim. Schedule a time when your contractor can also attend this inspection. It is very important that a contractor is present with the insurance adjuster. The claims specialists at Endeavor Exteriors are your advocates during the insurance inspection.

STEP

4

Meet with your adjuster

Insurance adjusters have a home inspection checklist they will follow when determining the damage done to your home. Your roofing contractor will be able to represent your needs and make sure that the adjuster is aware of all damaged areas. Having an experienced and professional company represent you during the inspection will increase your claim value and avoid any negative interactions.

STEP

5

Claim approval

Once your insurance claim is approved, go over the details of the insurance coverage with your roofing contractor. This will allow you to ask any questions you need regarding the repair work and the warranty the contractor will provide. This is where the claims specialists at Endeavor Exteriors can help you understand all repairs the insurance company is covering and any they aren’t.

STEP

6

Time for your project to begin

When you have received the answers to your questions, sign the contract with the roofing contractor and get your roof repair work scheduled. Your insurance company will provide payment directly to you. You will be responsible for paying the insurance check, depreciation and deductible to the contractor. Your insurance company will require proof the repair work was performed. Endeavor Exteriors will supply any necessary information for you.

Filing your claim just got easier.

We work with some of the top insurance companies in the nation so your claim is approved and processed quickly.

FAQs

Will pre-qualification affect my credit score?

Submitting pre-qualification will not affect your credit score.
Hard inquiry does not take place until we make payment to
your contractor.

Will I need to verify my income?

In the credit approval process, you’ll be asked your individual
“gross yearly income.” Please be as accurate as possible. If
further clarification is required, you may be asked for “proof
of income” through a W2 or a pay stub. (This verification only
impacts a very small percentage of customers.)

Can I apply with a co-applicant?

No co-applicants are accepted at this time, but someone
else in the household can apply if the original applicant is
denied. Applicants must be listed as owners of the property.

Once credit is approved, how long is it valid for?

60 days. You must sign your loan agreement within 60 days
of receiving approval.

If I am declined due to credit, what can I do?

You will be sent the reason for decline via email, and be able to
take appropriate action. You can then re-apply after 30 days, or
another member of the household can apply immediately.
Applicants must be listed as owners of the property.

When do payments begin?

REDUCED RATE APR LOAN
90 days after the first disbursement of funds are released to
your contractor or 15 days after the final stage of your project
is marked as complete, whichever comes first.

DEFERRED INTEREST, NO PAYMENTS LOAN
After the promotional period ends*.
* The promotional period timeline begins with the disbursement
of funds is released to your contractor. This takes place upon
completion of the first loan funding stage. This may occur upon
countersignature of the loan agreement or a later date of your
contractor’s choosing and your acknowledgement. Refer to
your contractor for details.

How do I make payments?

All of the loan information and payments will be made in
your borrower portal.

How do I find out how much I owe on my loan?

You can log in to your online account 24 hours a day to view
your loan balance and/or schedule a payment for the date of
your choosing. If you would like to obtain a full payoff
amount for a date up to 10 days in the future, please email
loanservicing@joinmosaic.com.

What happens if I move?

This is a personal loan, no lien is placed on your property as a
result. If you move, the loan will remain in your name and
you can pay it off anytime.

If I pay off the loan early, do I still owe interest?

REDUCED-RATE APR
You can pay off the loan amount at any point, and you’ll only
pay for interest that has already accrued.

DEFERRED INTEREST, NO PAYMENTS LOAN
If you pay off your loan before the promotional period end
date, you don’t owe any interest. If you don’t pay off your
loan prior to the promotional period end date, you are able
to pay off the loan amount at any point, and you’ll only pay
for interest that has already accrued.

Are there any early payment penalties?

Mosaic does not have any prepayment penalties.

Do prepayments go to principal or interest?

REDUCED-RATE APR:
Prepayments are first applied to interest that has accrued,
and then applied to principal.

DEFERRED INTEREST, NO PAYMENTS LOAN:
During the promotional period, all payments are applied to
principal. After the promotional period ends, prepayments
are first applied to interest that has accrued, and then
applied to principal.