After a hail storm rolls through the Colorado Springs area, there's normally a flurry of homeowners calling their insurance companies and filing claims - many of them having been encouraged to do so by zealous roofing salesmen.
After a storm, whether you have had your roof inspected by a roofing contractor or not, and whether you know you have damage or not, before you call your insurance company, be sure you know the following 3 things.
Many homeowners assume that when a big hail storm hits their house, that means they must have roof damage. Perhaps they've noticed a bunch of roofers' signs popping up in their neighbors' yards. That may reinforce their belief that they probably have damage. Perhaps they've even been told by a door-to-door roofer that he can see damage on their roof from the street. Before you file a claim, however, it's important for you to know for certain that there is an insurable loss to your property. The best way to find out is to ask a trusted roofing contractor to inspect your roof. By a trusted roofing contractor, I mean one who has been referred to you by someone you know and trust who has used that roofing contractor. Do not trust the guy (or girl) who comes knocking on your door or who calls your house. And do not call your insurance company and ask them to inspect your roof.
Do you have an Actual Cash Value policy or a Replacement Cost Value policy? This is very important for you because that determines how much money the insurance company will pay for the re-roof and how much out of pocket money you will have to pay. We have another post that explains what the difference is between Actual Cash Value and Replacement Cost Value. Be sure to ask your insurance agent what your policy coverage type is before you file a claim.
Insurance companies are all trying to save money in the face of the huge losses they're taking due to the hail storms here, so, many of them are making changes to the homeowners' deductibles. They may be increasing the flat amount of the deductible, such as moving you from a $1000 to $1500 amount, or they may change you from a flat amount to a percentage amount. Percentage deductibles are a percentage of the value of your home. Often they're 1/2% - 1% of your home value. We've seen them as high as 2%. This means that your deductible may be much higher than you're expecting. Be sure to ask your insurance agent what your deductible amount is for hail damage before filing a claim
The video below explains this as well. If you have any questions please call our office at 719-433-6991 or send us an email.