Filing a Hail Damage Claim Can be a Challenge
According to national news reporting, the average cost per hail claim is approximately $17,000, but for many policyholders, it’s tough to get what they are owed from insurers for repair and replacement.
Thanks to the subjective nature of loss estimation and claim adjustments, it’s not uncommon for insurance carriers to dispute hail damage. Texas homeowners and renters are frequently dismayed to find their claim underpaid or flat out rejected.
Many policyholders are offered only partial roof repairs rather than a necessary replacement. Insurance companies will also dispute damages that were caused by hail, writing them off as previous wear and tear, despite the severe toll of hail damage on home exteriors such as windows, siding, and roofs. Hail damage can even potentially extend to the inside of your home if, say, it breaks through a skylight.
An FYI on RCV & ACV
It is important to understand the difference between actual cash value (ACV) policies and replacement cost value (RCV): an ACV policy will cost you less but also offer you less, because it uses the age and condition of your home to shave more off the payout. RCV will cover the current replacement cost without subtracting value for your property’s depreciation. While RCVs may cost more in monthly premiums for the policyholder, the payouts also typically cover more costs than ACVs.
How can a Texas Public Adjuster Help?
Public Adjusters are responsible for negotiating the settlement of insurance claims on behalf of homeowners and renters. This extends to investigating, settling, adjusting, advising, and assisting an insured policyholder with a claim.
Their responsibilities also include:
- Having insightful technical knowledge about insurance policy and processes.
- Making sure property owners are properly indemnified for the loss.
- Assist in finalizing an honest settlement to cover roof damage, along with other siding and property damage.
- Increasing hail damage settlements for policyholders by an average of 747%.