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Storm Damage and Your Homeowner’s Insurance

Storm Damage and Your Homeowner’s Insurance

storm damage insurance claimIf you haven’t ever read your homeowner’s insurance policy, now might be a good time to do so. Already this storm season has hit North Carolina with several confirmed tornadoes. Last year Hurricane Florence left and estimated $17 billion in damage yet only about $600 million dollars has been paid out by to homeowners from a storm damage insurance claim. Why? Because not all homeowner’s insurance is the same and few policies cover everything.

Small Details Can Influence Amount of Coverage

There are a few key phrases to look for in your policy. One is “depreciated value” which means that your loss will be covered at its depreciated value. For example, if a new roof costs $20,000 and your old roof was 10 years old, or half of it’s expected life. You may only get about $10,000 for your storm damage insurance cliam roof replacement. If, on the other hand, it says “full replacement value” you would receive the cost of the new roof.

Another clause to look for is “proof of (maintenance, service, good working condition).” This is often applied to mechanical items but can be applied to your roof which is why regular maintenance and proof of the roof’s condition can help you in the event of storm damage. If you haven’t had a roofing inspection or maintenance performed recently or your roofing company doesn’t provide images with their reports, take pictures that focus on the roof. That will help you prove the roof was there before the storm.

Flood Damage is Only Covered by Flood Insurance

Few homeowners inland have flood insurance. This is one of the main reasons that such a small percentage of the storm damage was covered from Hurricane Florence. If you live in a flood plain, you may want to consider flood insurance before hurricane season starts up on June 1. Only flood insurance covers water that comes up rather than down.

Cooley Roofing Can Help

The better you understand your coverage and have a good roofing company helping you through the insurance claims process, the better off you will be if we have another year of storm damage insurance claims in the Triad. Cooley Roofing and Construction has helped many homeowners over the years with their homeowner’s insurance claims and helped them get fair coverage for damage to their roof, siding, gutters and windows. We’re here to help you with any type of roof repair or replacement including your storm damage insurance claim. Call us at (336) 766-6488 or fill out our contact form.

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