An insurance trade organization says the hailstorm that pounded Dallas this week could result in up to $2 billion in insured losses.
Sandra Helin, president of Southwestern Insurance Information Service, said Friday that the estimate is preliminary and based on claims filed over the previous 36 hours. Helin added that “we are hopeful that the damage estimates fall short of what we are predicting.”
Helin said Wednesday’s storm was catastrophic due to a massive number of vehicles caught in the open during rush hour, the tens of thousands of homes that received roof and interior damage and the number of historic homes that were heavily damaged.
Hail storms can cause massive damage to commercial and residential properties. Here are some facts you should know about hail damage.
-I took a look at my roof and called a roofer to inspect, but it does not seem like three are any problems.
Fact: Roofing systems must actually be inspected by someone who has training, knowledge and experience to establish if there is actual hail damage. An insurance company sends their adjusters through rigorous special training so they can properly identify damage from hail. Unfortunately, roofers and home inspectors do not go through the same training.
-I do not see any missing shingles, so I don’t think I have damage.
Fact: Missing shingles are generally related to wind damage. They can happen during a hail storm only if the winds become high enough. Hail damage is unsafe in nature and may not physically cause leakage for years after a hail storm.
-I think I only have a year to file a claim.
Fact: There are several insurance companies that do have a one year time limit. However, due to the nature of hail damage, insurance companies may pay claims past the deadline if a hail storm is widespread geographically.
– I have a brand new roof on my home so shouldn’t it be covered by the manufacturers warrants, homebuilder, or contractor?
Fact: Generally, manufacturers, home builders, and roofing contractors will specifically name hail as an exclusion to their product warranty. If you have a newer roof, it can actually be more vulnerable to hail damage opposed to older roofs. This is because it takes a new roof time to cure from exposure to the elements.
-My roofer told me that my roof has very little damage and therefor I would not need to file a claim.
Fact: Even with minimal damage, it is very important to file a claim with your insurance company. Because your roof might not leak for years, as long as you notify your insurance company that the damage occurred, your claim can always be reopened later. This is why it is imperative to have a qualified expert inspect your roof.
– Won’t my insurance company throw me off my insurance if I file a claim?
Fact: In most states, insurance companies are prohibited from canceling policies for filing claims that occur from severe weather related events. You might want to check with your state and policy language.
– If I file a claim, the insurance company will raise my rates.
Fact: After any natural disaster, whether it is hurricane, hail, tornado, or flood, an insurance company can raise everyone’s rates. Even if you decide not to file a claim, your insurance rate might still go up. By not filing your claim, your rate increase can pay for everyone’s damage except yours.
The bottom line is that if you suffer from hail damage, you need an expert to verify your damage and you should file your claim immediately. The long term effects of hail damage are terrifying. You should protect your home at all costs. Isn’t that why you have insurance?
If you are located in the following areas, you may have sustained hail damage – Dallas, TX
Public Adjusters can also assist you with you vehicle claims as well. If you are unsure if the insurance company has paid enough for your vehicle or you have been paid and you do not feel that it was enough to cover your vehicles expense. Contact us today. You can receive more money for diminished value for your car claim. 800.501.1230
