 |
|
On thing to be forewarned about: "new" vs "old" hail damage
Posted on: September 24, 2020 at 09:20:45 CT
Joeboo MU
Posts:
153846
Member For:
20.31 yrs
Level:
User
M.O.B. Votes:
0
We haven't had much large, damaging hail this year around KC. You may have hail damage, but a roofer or insurance adjuster can pretty easily tell how old the damage spots are by how weathered & sun-bleached the pock marks are.
There's also VERY detailed reports tracking what size hail hit exactly what areas, and on what dates.
So if you have hail damage, and it looks old, and they confirm that the hail reports show no damage in your area lately, then you may get anything from a flat-out claim denial, or coverage but at actual-cash value where they depreciate the payout based on the age of your roof.
Almost all insurance companies have a stiuplation on homes that any damage must be claimed & repaired within 1 year of the incident to get the full, replacement-cost claim settlement.
So if they only offer ACV coverage on your roof due to the age of the damage, and say you have a 30-year roof that is 15 years old at this point, they're only paying you somewhere in the ballpark of 50% of the value of your roof, because your roof is already 50% through its expected lifespan. And then take your deductible off of that too.
Not saying that's the case, but those are the potential scenarios.
There's also VERY detailed reports tracking what size hail hit exactly what areas, and on what dates.
So if you have hail damage, and it looks old, and they confirm that the hail reports show no damage in your area lately, then you may get anything from a flat-out claim denial, or coverage but at actual-cash value where they depreciate the payout based on the age of your roof.
Almost all insurance companies have a stiuplation on homes that any damage must be claimed & repaired within 1 year of the incident to get the full, replacement-cost claim settlement.
So if they only offer ACV coverage on your roof due to the age of the damage, and say you have a 30-year roof that is 15 years old at this point, they're only paying you somewhere in the ballpark of 50% of the value of your roof, because your roof is already 50% through its expected lifespan. And then take your deductible off of that too.
Not saying that's the case, but those are the potential scenarios.
Please explain why this message is being reported.
MESSAGE THREAD
On thing to be forewarned about: "new" vs "old" hail damage - Joeboo MU - 9/24 09:20:45