Hail damage question

[MRG]

Quote:

Originally Posted by Texas Proud WOW.... just looked at my house policy and I have almost $6K deductible on hail/tornado coverage.... so now it looks like a 10 minute storm will cost me $8K total... Had someone look at the roof and he said it should be replaced... now have to get with insurance... Also, DW was in a car accident yesterday .... So, another insurance claim that I now have to deal with... (their fault, so another ins company also)....

Last year my agent specifically pointed out a hard to find clause in our updated policy.

Roof damage was your deductible + 5% of your homes value. I thanked her and asked about other providers.

🐑

[Texas Proud]

Quote:

Originally Posted by MRG Last year my agent specifically pointed out a hard to find clause in our updated policy. Roof damage was your deductible + 5% of your homes value. I thanked her and asked about other providers. 🐑

Since there is a line specifically for hail/wind damage I do not expect to get this surprise... but did notice that my tornado is 5% of value instead of 2% like the hail...

Now I see why they like to have the 'value' of your home so much higher than it really is... more premium to them and higher deductible!!!

[MRG]

Quote:

Originally Posted by Texas Proud Since there is a line specifically for hail/wind damage I do not expect to get this surprise... but did notice that my tornado is 5% of value instead of 2% like the hail... Now I see why they like to have the 'value' of your home so much higher than it really is... more premium to them and higher deductible!!!

I don't think you'll have an issue. I just hate for folks to get surprised you did, and I would have on my policy, like that. I'm all in favor of businesses making profits, just do in a fair way.

[meierlde]

For my policy the deductable is 1% of value for anything. It used to be 1% for wind and hail, and less for other perils, but they raised it to 1% for everything. The higher roof deductables argue even more strongly for class 4 hail resistant roofs. If you are willing to endure cosmetic damage it means it really takes a lot to do damage. (plus at least standing seam metal roofs are more wind resistant, since its one sheet from peak to eaves) It appears that a metal roof also reduces heat load in the summer.

[Texas Proud]

Quote:

Originally Posted by meierlde For my policy the deductable is 1% of value for anything. It used to be 1% for wind and hail, and less for other perils, but they raised it to 1% for everything. The higher roof deductables argue even more strongly for class 4 hail resistant roofs. If you are willing to endure cosmetic damage it means it really takes a lot to do damage. (plus at least standing seam metal roofs are more wind resistant, since its one sheet from peak to eaves) It appears that a metal roof also reduces heat load in the summer.

Yea, I was not paying attention.... have $1K deductable for most items... but saw that hail/wind is 2% and hurricane is 5%.... and my premium went up almost 88% from last year with no claims... I would hate to see what it would be if I had the low deductable I used to have....