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#1
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We Had Hail, Should I Make A Claim?
Do you have any thoughts on if I should make a claim of hail damage, or just pay for the roof myself? some facts: -The roof needed replacing before the hail -I'm sure the hail caused some extra damage -I can afford do have it repaired without making a claim Maybe this is more of an insurance question. Will the claim make my rates go up so that it's not worth it? I have a $500 deductable. |
#2
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We Had Hail, Should I Make A Claim?
claim will definetely make future rate go up.
how old is the existing roof? lets imagine its 23 years old, with 25 year shingles. if the roof needs replaced and a brand new roof costs 5 grand they will divide 5000 by 25 years.... 200 bucks per year so you might in this case get 400 bucks. if the roof is in visible poor shape, cracked shingles, loose granules, curled, warped, cracked flashing etc you will get less. flashing would likely get backed out of the cost if it wasnt damaged by hail... in a hailstone shell you have little to gain by a claim... sorry time for a new roof |
#3
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We Had Hail, Should I Make A Claim?
If he has replacement value insurance they will pay for a new roof without
any depreciation. On the other hand, if the roof was shot before the hail, making a claim is a bit dishonest. wrote in message oups.com... claim will definetely make future rate go up. how old is the existing roof? lets imagine its 23 years old, with 25 year shingles. if the roof needs replaced and a brand new roof costs 5 grand they will divide 5000 by 25 years.... 200 bucks per year so you might in this case get 400 bucks. if the roof is in visible poor shape, cracked shingles, loose granules, curled, warped, cracked flashing etc you will get less. flashing would likely get backed out of the cost if it wasnt damaged by hail... in a hailstone shell you have little to gain by a claim... sorry time for a new roof |
#4
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We Had Hail, Should I Make A Claim?
Art wrote: If he has replacement value insurance they will pay for a new roof without any depreciation. On the other hand, if the roof was shot before the hail, making a claim is a bit dishonest. It's never dishonest to make a claim like this. He's not misrepresenting anything by putting in a claim. There was hail, there was damage. It's then up to the adjuster to figure out what the insurance company will do. On the other hand, if the roof really was in bad shape and obviously did need replacing prior to the hail, I probably would not put in a claim. And if I was considering doing so, I would carefully read the entire policy first, because with a $500 deductible, the amount you are likely to wind up with, if anything, probably won't justify the likelihood of higher rates in the future. wrote in message oups.com... claim will definetely make future rate go up. how old is the existing roof? lets imagine its 23 years old, with 25 year shingles. if the roof needs replaced and a brand new roof costs 5 grand they will divide 5000 by 25 years.... 200 bucks per year so you might in this case get 400 bucks. if the roof is in visible poor shape, cracked shingles, loose granules, curled, warped, cracked flashing etc you will get less. flashing would likely get backed out of the cost if it wasnt damaged by hail... in a hailstone shell you have little to gain by a claim... sorry time for a new roof |
#5
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We Had Hail, Should I Make A Claim?
It may or may not effect your rates now but if you make another claim in the
near future, the combined claims sure will. It will effect your insurance score, but that may not pan out to a rate hike until later. Hail damage, at least, is not caused buy negligence or poor maintenence but a claim shows your house is susceptable to such damage in the future and unless the storm was a real rare freak, that will cause them to regard the house as being more likely to make a claim in the future. Combine a house susceptable to damage and an owner susceptable to making claims, that's a red flag for them to raise rates. "gsd" wrote in message ... Do you have any thoughts on if I should make a claim of hail damage, or just pay for the roof myself? some facts: -The roof needed replacing before the hail -I'm sure the hail caused some extra damage -I can afford do have it repaired without making a claim Maybe this is more of an insurance question. Will the claim make my rates go up so that it's not worth it? I have a $500 deductable. |
#6
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We Had Hail, Should I Make A Claim?
gsd wrote:
Do you have any thoughts on if I should make a claim of hail damage, or just pay for the roof myself? some facts: -The roof needed replacing before the hail -I'm sure the hail caused some extra damage -I can afford do have it repaired without making a claim Maybe this is more of an insurance question. Will the claim make my rates go up so that it's not worth it? I have a $500 deductable. I suggest you call the insurance company. I called mine and they sent someone out. I really did not think I had any real damage, although some neighbors had ripped up screens. The adjusted asked me to come out and he showed me the damage. They covered a new roof (original was about 13 years old) and not only did not get a rate increase the rate went down a little the next year. -- Joseph Meehan Dia duit |
#7
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We Had Hail, Should I Make A Claim?
On Tue, 09 May 2006 01:47:23 GMT, "Joseph Meehan"
wrote: gsd wrote: Do you have any thoughts on if I should make a claim of hail damage, or just pay for the roof myself? some facts: -The roof needed replacing before the hail -I'm sure the hail caused some extra damage -I can afford do have it repaired without making a claim Maybe this is more of an insurance question. Will the claim make my rates go up so that it's not worth it? I have a $500 deductable. I suggest you call the insurance company. I called mine and they sent someone out. I really did not think I had any real damage, although some neighbors had ripped up screens. The adjusted asked me to come out and he showed me the damage. They covered a new roof (original was about 13 years old) and not only did not get a rate increase the rate went down a little the next year. My experience almost exactly. Hail did damage that was far greater than I thought. I did not really expect any adjustment and ended up with a full replacement less deductible. Impact on insurance premium was minimal. Increase the next year was mostly inflationary (higher coverage from appreciation of the property). The only impact was when I asked the independent agent to shop all his carriers a couple of years later, he said I needed to wait a while longer because I couldn't get a preferred rate with another company within so many years of a major claim. I think it was three years. Frank |
#8
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We Had Hail, Should I Make A Claim?
"Frank Boettcher" wrote in message ... On Tue, 09 May 2006 01:47:23 GMT, "Joseph Meehan" wrote: gsd wrote: Do you have any thoughts on if I should make a claim of hail damage, or just pay for the roof myself? some facts: -The roof needed replacing before the hail -I'm sure the hail caused some extra damage -I can afford do have it repaired without making a claim Maybe this is more of an insurance question. Will the claim make my rates go up so that it's not worth it? I have a $500 deductable. I suggest you call the insurance company. I called mine and they sent someone out. I really did not think I had any real damage, although some neighbors had ripped up screens. The adjusted asked me to come out and he showed me the damage. They covered a new roof (original was about 13 years old) and not only did not get a rate increase the rate went down a little the next year. My experience almost exactly. Hail did damage that was far greater than I thought. I did not really expect any adjustment and ended up with a full replacement less deductible. Impact on insurance premium was minimal. Increase the next year was mostly inflationary (higher coverage from appreciation of the property). The only impact was when I asked the independent agent to shop all his carriers a couple of years later, he said I needed to wait a while longer because I couldn't get a preferred rate with another company within so many years of a major claim. I think it was three years. Frank Theres a hidden consiquence I hadn't considered, fortunately switching home insurance carriers is not done often. |
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