Got hail?

Minneapolis, MN: We've recently experienced several storms with large hail... Golf ball to baseball sized.  Yikes!   We've received a lot of questions from clients about what to do.

First, it's always best to consult your licensed insurance agent with any specific questions, especially about your personal home coverages. Just because there was hail, doesn't mean your roof was damaged, or damaged enough to qualify for insurance coverage.

Insurance is very different these days than in years past.  It is common to see a larger deductible for "wind / hail" claims than other damage to your home, and to also find out you have 'ACR' or 'RPS' coverage, instead of "full' coverage.

It is also common these days, that your insurance may have started out with full replacement, but magically changed to ACV coverage after 5 or 10-years.

RPS stands for roofing payment schedule, while ACV stands for 'actual cash value', both basically mean insurances only pays the depreciated value of the roof. For example, lets say you have 30-year shingles, a 20-year old roof, and the replacement roof has a new repair cost of $10,000.  The material is $5,000 and the labor is $5,000.  The insurance company will pay you 1/3rd of the material costs, or only $1650. Plus the labor, so $6550.  Then you have a $1,000 deductible, so you will only get a check for $5550 to replace your $10,000 roof.

More recently, we've seen some companies now also only offering depreciated value for BOTH the material AND the labor. Using the same example above, you are only getting a $2300 insurance check to replace your $10,000 roof.

These are PRIME EXAMPLES, or of the importance of talking with a real live human at an independent insurance company for your insurance needs, rather than simply going online and getting insurance on your own!

Next, getting estimates and what contractor to use.  After a hail storm at my house just the other day, within just TWO HOURS, I counted four roofing company trucks! Many people hate the vultures preying on victims.  I know I do. 

Those immediate door knockers range from the quality local company, to out-state roofing traveling contractors, all wanting to climb on your roof and give you an estimate.

There is no harm in letting them look, but beware of immediate high pressure sales tactics, and DO NOT let them start filing an insurance claim on your behalf.  Take a step back, pause, and for sure, get a second or third estimate before making any decisions.

Also be very wary of any roofing contractor that claims to guarantee you'll get a new roof. We usually see unsavory practices with these people, and you do not want to be getting involved with insurance fraud.

Finally, We always suggest it is best to use a local, very reputable contractor, and take a moment to get references from friends, and neighbors who've had roofing and siding contractors do work on their house.