Reservation of rights

More claims & insurance terms

• Reopened claim

  A closed claim that the carrier puts back into active status, usually because new damage, a supplement, or a missed item surfaced after payment. Reopening has its own time limits and documentation rules that vary by carrier and state, so ask what they require before resubmitting.

• Replacement cost value

  What it costs to repair or replace the damage with like kind and quality at today's prices, without deducting for age. Most policies pay it only after the work is done and invoiced, so keep receipts and completion photos to collect the recoverable depreciation.

• Roofing consultant

  An independent inspector who documents roof condition and writes a report supporting either the property owner or the carrier. In a disputed claim, their report can push a scope disagreement toward resolution. A consultant advises and documents but does not approve payment.

• S500 standard

  The IICRC's water damage restoration standard that sets the categories and classes of water loss and the standard drying approach. In a claim it is the baseline for what counts as reasonable drying. It is a restoration standard, not a policy or a payment rule.

• S520 standard

  The IICRC's mold remediation standard covering how mold work is assessed, contained, and cleaned. When a claim includes mold, adjusters and remediators point to this standard to justify the scope. Its fit on a given loss depends on the carrier.

• Salvage

  Damaged property that still has usable value, which the carrier may deduct from the settlement because the policyholder keeps it. On larger losses, a carrier may ask you to set salvageable material aside for inspection. Document what is reusable and what is genuine waste.

Common questions