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Hail Damage Insurance Process

 

NOT SURE IF YOU HAVE HAIL DAMAGE?

Colorado is known for its high winds and intense hailstorms that are more than capable of causing severe damage to rooftops and the exterior of homes. Most hail damage is often overlooked by the untrained eye and needs to be professionally examined. Hail that is driven by high winds or lasts longer than a few minutes can cause severe damage to your home. How? First, the hail causes your shingles to suffer the loss of the protective granule layer that is designed to defend them from the sun’s intense and damaging rays. Then, the punctures made by the hail eventually turn into, pesky, unwanted leaks eroding over time into larger ones. They potentially can cause future problems to your home.

If there is even the slightest possibility that your roof has sustained damage, please call Bold Brothers Roofing ASAP. It is your right to have a professional represent you during an inspection. We strongly encourage that you do not depend on insurance adjusters bid alone. The experts at Bold Brothers Roofing will provide you with a free inspection and further point out any or all hail damage to your roof. Whether you have big or small concerns, we will make sure to eliminate your worries during our inspection. If we do not find any damage to your roof, we hope that our knowledge and expertise have earned your future business.

 

WILL YOUR INSURANCE RATES GO UP AFTER A ROOFING CLAIM?

If there was a recent storm in your area, then the answer is NO. Homeowners insurance does not work the same as auto insurance. You will not be punished for filing a storm damage claim because it is considered an uncontrollable and natural event. Increased rates are based on zip codes that go through statistically higher levels of storm damage. If you reside in an area that has sustained a considerable amount of storm damage, your rates may increase whether you file for a claim or not.

Questions to ask yourself:
Do you know what your insurance should pay for your damage?
Are you sure the insurance adjuster offered/paid ‘Fair Market Value’ for your area?
Are you aware of the local codes that pertain to roof replacement?
Did the insurance adjuster pay enough for everything to bring your home up to new codes?
Are you positive the insurance adjuster did not miss anything?

 

THE ADJUSTER MEETING/INSURANCE INSPECTION

Most insurance providers will schedule appointments from Monday through Saturday from 8 am to 6 pm. With this appointment, the insurance adjuster will look at your property. They will inspect your roof and examine other affected areas of your home for visible signs of storm damage. He/she will measure out a “test square” (10’ x 10’) on different slopes of your roof. If he/she can find the necessary amount of bruises or breaks for each individual square, the insurance company will pay for a new roof. There are also additional roof components that will be inspected and extra money that will be paid if damages are found.

 

HOW YOU GET PAID ON CLAIMS

In most cases, the first check is paid within seven to ten days after the insurance adjuster has finished the inspection. The insurance company will then provide you a Loss Statement, this statement breaks down the damages and gives you a good idea of how much the insurance company will be paying based of off the adjuster’s initial inspection. This check is often referred to as the ACV (Actual Cash Value) check.

The ACV check should represent the actual cash value of the damaged item at its current age. For example, if you had a roof with a 30-year lifespan and your roof is 15 years old when it sustains the damage, the actual cost value of that roof would be depreciated by 50%. The first check you will receive for 50% of the cost to replace your roof. The second check is called the Depreciation check. (DEPRECIATION is defined as reduction in value of an asset over time, due to particular wear and tear.) After the replacement or repair work is completed and the roof is now back to new, the insurance company will issue a second check for the (RECOVERABLE DEPRECIATION AMOUNT MINUS THE DEDUCTIBLE AMOUNT). Most insurance companies have a 180-day limitation on collecting the recoverable depreciation check. In a lot of cases, homeowners do not receive the depreciation check because they do not understand the process and/or the contractor did not understand or adhere to the proper procedures.

 

WATCH OUT FOR ROOFING COMPANIES THAT ADVERTISE NO DEDUCTIBLE!

Due to the amount of recent storm damage claims, ‘shady’ roofing companies, and dishonest contractors, insurance companies are now auditing some insurance claims and the distribution of funds. COLORADO SENATE BILL 12-038 SECTION 1 ARTICLE 22 states that “THE ROOFING CONTRACTOR CANNOT PAY, WAIVE, REBATE, OR PROMISE TO PAY, WAIVE, OR REBATE ALL OR PART OF ANY INSURANCE DEDUCTIBLE APPLICABLE TO THE INSURANCE CLAIM FOR PAYMENT FOR ROOFING WORK ON THE COVERED RESIDENTIAL PROPERTY.” In other words, you cannot profit in any way from your insurance claim. Every Loss Statement comes with a lawful disclaimer that will inform the homeowner about insurance fraud. Paying or waving a deductible fall within the grounds of insurance fraud. If you cannot afford to pay your deductible right away, we provide our clients with the opportunity of an in-house payment plan. Feel free to ask your Project Manager for more details.

According to COLORADO SENATE BILL 12-038 SECTION 1 ARTICLE 22, you are not allowed to profit from a loss. Insurance fraud is a Class 3 felony that is punishable by up to 10 years in prison and can be followed by extensive fines.

Q and A

DO YOU NEED TO GET MORE THAN ONE ESTIMATE FOR YOUR ROOF?

The answer to this question is NO. Your insurance company has a well-defined price list they will use. Your insurance will only pay the actual costs for repairs that follow their price list (regardless of what bids you might get). If something is missing on the Loss Statement, we will work directly with your insurance company to ensure you are given the proper supplementation with new and corrected prices.

Now, take a step back and ask yourself this, what reward will the insurance company provide you with for finding the lowest price for them? Then ask yourself if your insurance company will lower the amount of your premium? The answer to both these questions is NO. Your insurance company will pay the contractor “fair market price.” Shopping for the lowest price is only saving the insurance company money and costing you and your home the quality treatment it deserves.

DO NOT LOOK FOR THE CHEAP BID, ALL YOU HAVE TO PAY IS THE DEDUCTIBLE AMOUNT!

Your insurance company is responsible for everything except your deductible and optional chosen upgrades. Going with a cheaper bid does not lower your deductible. The best way to get a good ROI (return on investment) is to hire a reliable contractor that will instill the best materials and do the job right the first time. In the long run, going with the lowest price can end up costing you more time and more money. A roof is not something that you want to have to install twice. Get the best roof possible and put some equity into your house!

 

WHO SHOULD YOU HIRE TO DO YOUR ROOF?

This is one of the biggest questions you will face during this process, and our best advice for you is this… Find a contractor who you feel comfortable with, has a good reputation and is trustworthy. You should never be placed into a predicament in which you feel forced or rushed to decide. Look for a contractor that does not require money upfront and is licensed as well as insured. Also, keep in mind that large hailstorms attract out of state contractors that lack knowledge of the area and local building codes. You must hire the right people to install the best products and assure yourself that the weather stays outside where it belongs. Hiring Bold Brothers Roofing will ensure the best quality of work for you and your insurance company. We have the experience and knowledgeable background needed to work on your behalf.

 

STEP BY STEP PROCESS TO AN INSURANCE CLAIM

Step 1) Get your roof inspected by a local roofer with a good reputation.
A lot of homeowners call the insurance company before calling a roofer. However, if a insurance adjuster goes to your property and there wasn’t a recent hailstorm or have any damage, some, insurance companies will hold it against you and may even raise your premiums. The best way to start your roofing process is to contact a Bold Brothers Roofing expert that will let you know the best way to move forward. We offer a no-obligation, free roof inspection and provide you with a detailed inspection report.

 

Step 2) If you have damage… Call your insurance company to make a claim.
Most of the time, your insurance company will ask if you have had your roof inspected and if you have selected a roofing contractor. With our inspection report that we provide, you can submit the report to your insurance company with assurance and start the process.

 

Step 3) Set up a time to have your insurance adjuster and your Bold Brothers representative look over your roof together.
As the saying goes, “two sets of eyes are always better than one.” When Bold Brothers Roofing and your insurance adjuster work together on the project, it allows everyone to save time and have a more efficient re-building process.

 

Step 4) Pick a date to install the roof.
After the details are worked out with your insurance company. We will give you a call and/or email you to let you know when your roofing materials will be delivered. We will then proceed to provide you with a start date (weather depending). Most of the time, a standard roof replacement may take 1-2 days to complete.

 

Step 5) CHECK THE COST!!! The ONLY cost to you would be your deductible unless you choose to go with some of our optional upgrades. Payments are made half down, or ACV (Actual Cash Value) claim amount. 1st payment is collected the day material is delivered no later than the day work begins. Once work is completed, we will send a certificate of completion, final invoice, and any required photos to your insurance company. We then will ask them to release the depreciation check along with any remaining supplements that may have occurred during the project. The funds will then be sent to you and should arrive within 1-2 weeks. Once we sent all the necessary information over to your insurance carrier, we send you the final invoice with the remaining balance. Keep in mind that there may be some occasions in which the mortgage company has to endorse the check before you can deposit it.

 

*Financial Example of Roof claim on a roof that has a 30-year life expectancy and was totaled out by hail when it was 15 years old:

  1. Insurance determines cost of roof replacement.
  2. Insurance sends out ACV check to homeowner (1st check).
  3. New Roof is installed.
  4. Homeowner may or may not receive a deductible.
  5. Insurance sends out deprecation check (2nd check).
  6. The insurance company pays for the new roof, and the homeowner becomes responsible for paying the deductible.

INSURANCE CLAIM COMPANIES AND PHONE NUMBERS

GEICO
1-866-324-6516
File a Claim Online

Hartford
1-800-243-5860
File a Claim Online

Allied
800-282-1446

Allstate
800-54-STORM

American Family
800-374-1111

Amica
800-24-AMICA

Auto Owners
517-323-1200

Chubb
800-CLAIMS-0

Encompass
800-588-7400

Farmers
800-435-7764

Liberty Mutual
800-2CLAIMS

Nationwide
800-421-3535

Progressive
800-776-4737

Safeco
800-332-3226

Shelter
800-SHELTER

State Farm
800-SF-CLAIM

Travelers
800-CLAIM33

USAA
800-531-8222

GEICO
866-324-6516
File a Claim Online

Hartford
800-243-5860
File a Claim Online

Allied
800-282-1446

Allstate
800-547-8676

American Family
800-374-1111

Amica
800-242-6422

Auto Owners
517-323-1200

Chubb
562-867-5309

Encompass
800-588-7400

Farmers
800-435-7764

Liberty Mutual
800-225-2467

Nationwide
800-421-3535

Progressive
800-776-4737

Safeco
800-332-3226

Shelter
800-743-5837

State Farm
800-732-5246

Travelers
800-252-4633

USAA
866-324-6516